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MGM102 Guest Speaker: Matt Peters- Law, Business, and Effective Management.docx

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Dave Swanston

February 28 , 2014 Guest Speaker- Matt Peters: Law, Business, and Effective Management • Canada’s natural resources makes Canada an attractive investment for the rest of the world • Tax underlines a lot of business decisions being made; touches everything; good indicator of risk/risk taking activities; who does what and why they are doing it; growing complexity and uncertainty in business and legal environment • Role of legal advisors  Information sources- “input” to decision making process  Legal advice, not business advice o Lawyers= notoriously bad business people o Provide data to the decision makers o Recommendations/observations/opinions re: legal risk o Liability re: analysis of law/assessment of risk o Who is giving the advice? Who is on the hook? o Privilege issues o Who is the client/what are expectations?  What does the client expect from legal advisor?  Ability of lawyer to provide the advice  Cadillac (good advice) vs. Pinto (bad advice)  More for less o What is the issue? o Detective work o Clarity/organization/thoroughness o Cost effectiveness (the business of law) • Role of tax advisors  Overlap between tax lawyers and accountant  Evolving nature o Hero- goat cycle (Tax shelters, loophole exploitation, international tax avoidance) o Increasingly under the microscope internationally (Apple, Google, etc) o Massive, never ending flow of new information, legislation and technology- Future Shock  Solicitors/barristers  Confusion/overlap with accounting advisory firms  Need to clarify roles on case by case basis  Tax opinions  Nature/purpose of opinions  Bases for financial reporting  Bases for marketing  Bases for liability  Role of assumptions • Hot topics/trends  International tax o Basics  Effective tax rate (ETR)  Jurisdiction to tax February 28 , 2014  Tax treaties  Arbitrage o Why
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