Need A Source? - Tax Changes to Play Prominent Role in Upcoming Federal Budget



    TORONTO, March 19 /CNW/ - On Monday afternoon, Finance Minister Jim
Flaherty will table the latest federal budget. Recent reports suggest that the
federal government may enjoy a surplus of more than $8 billion this year and
the Finance Minister has indicated that further tax relief is likely to be
introduced as part of the budget. The Finance Minister's past comments raise a
host of questions, including:

    
    -   Will the government introduce broad tax cuts for individuals and will
        such relief target certain segments of the population?
    -   Will the government introduce tax breaks to encourage energy
        conservation and environmentally friendly practices?
    -   Will the government introduce a capital gains tax rollover, as
        promised in the government's election platform?
    -   Will the government introduce new rules to allow income splitting
        between spouses?
    -   Will the government alter its existing proposals relating to the
        taxation of income trusts?
    

    Todd Miller, David Wentzell and Michael Friedman are tax lawyers with
McMillan Binch Mendelsohn LLP and are available to discuss the 2007 federal
budget and the government's future tax plans.
    Todd is a partner in the firm's Tax Group and has extensive experience
counseling clients on domestic and cross-border financing transactions,
securities offerings, mergers and acquisitions, and business divestitures.
Todd has also developed expertise in the areas of estate planning, employee
compensation, and the taxation of charities and other non-profit
organizations.
    David is a partner in the firm's Tax Group. David's areas of expertise
include the taxation of public and private investment funds and structured
products, business acquisitions, securities offerings, and pension and
retirement income plans.
    Michael is a partner in the firm's Tax Group and advises clients on a
broad range of domestic and international taxation matters. Michael has
extensive experience guiding the tax-efficient execution of domestic and cross
border corporate transactions and regularly assists clients in resolving
disputes with both the Canada Revenue Agency and the provincial revenue
authorities.





For further information:

For further information: or to arrange an interview please contact:
Laura Gatsos, Media Profile, (416) 342-1825, laura@mediaprofile.com

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McMillan LLP

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FEDERAL BUDGET REACTION 2007

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