• March 10, 2010: Federal Budget Review

  » STEP Canada 2010 Federal Budget Review

• January 27, 2009: Federal Budget Review

  » STEP Canada 2009 Federal Budget Review

• December 2007/January 2008: Lobbying against the NRT/FIE rules

  STEP Canada is continuing its lobby efforts against the Non-Resident Trust and Foreign Investment Entity legislation, first introduced in the 1999 federal budget. In the eight years since then, there have been six different versions of the Bill. STEP Canada has been active all along in its lobbying efforts to point out the difficulties presented by the legislation for practitioners and their clients.

  On December 12th, STEP Canada appeared before the Senate Committee on Banking, Trade and Commerce to raise its concern about the proposed NRT/FIE rules. We were the only witnesses to appear.

  The following day, it was announced that the legislation would not be handed back to the House of Commons for passage, and put off until the next session of Parliament.

  Prior to testimony by the Department of Finance before the Committee on January 30th, STEP Canada made a supplementary submission. Please see below.

  The Committee meeting on the 30th was short. The Chairman announced that he had secured an agreement with Finance Minister Jim Flaherty for Finance officials to find resolutions to concerns that arose from the witnesses who testified in December. Another meeting -- when Finance will be providing clause-by-clause explanation – will be scheduled in the coming weeks. For more details, please see the transcript below.

  » The transcript of STEP Canada's appearance before the Senate Committee

  » STEP Canada's submission to the Senate Committee on Banking, Trade and Commerce regarding amendments to the new rules for non-resident trusts and foreign investment entities

  » Supplementary Submission from STEP Canada

  » Transcript of January 30th hearing

• August 15, 2007: 2008 Pre-Budget Submission

  In 2007 the House of Commons Standing Committee on Finance sought pre-budget submissions based on three narrowly constructed policy questions. Anything not related to these questions was summarized on one-page at the end of the Committee's report to the Finance Minister. A letter answering the Committee’s queries was drafted and submitted with a view to making a more technical submission when hearings are held in the fall. However, the government did not hold its annual hearings. However, thanks to those of you who responded with your thoughts.

  Robin MacKnight, Chair of Technical Committee: rmacknight@wilsonvukelich.com
  Stewart Lewis, CEO: slewis@step.ca

  STEP Canada's Submission:

  » 2008 Pre-Budget Submission

Stewart Lewis

Chief Executive Officer
STEP Canada

eMail: Stewart Lewis
Tel.: 416-491-4949 x225