Stephen Fyfe is a tax partner in our Toronto office. Mr. Fyfe was admitted
to the Ontario Bar in 1986 and the Alberta Bar in 1984. He graduated from Queen's
University Law School in 1982.
Areas of Practice
- Stephen has extensive experience with respect to the business, structuring
and tax implications of mergers, acquisitions, corporate reorganizations,
financings and other business transactions. He is committed to understanding
a client's business and providing them with effective and practical tax advice
by taking a problem solving approach to resolving their concerns. In recent
years, Stephen has become increasingly involved with clients working in energy
- In the energy markets area, Stephen has been involved with the structuring
of income trusts, both as an exit strategy for independent power producers
and as a financing vehicle. Stephen has also worked on the acquisition and
financing of a number of large electricity generation projects, with a particular
focus on renewable energy. He provided tax and structuring advice to numerous
municipal utilities, assisting them in their transition to the competitive
energy markets area and continues to assist them with corporate tax planning
- In the investment funds area, Stephen has has become increasingly involved
with tax advantaged structured products, making use of various derivative
based structuring alternatives available. He was also involved with the first
securitization structures for the investment fund area, and the development
of the first income trusts used to finance redemption charge securities.
Professional and Community Activities
- Member of the International Fiscal Association, Canadian Tax Foundation.
- Emerging Issues in Financing the Sale of Redemption Charge Securities,
The Canadian Institute in March 1995 Conference on Current Developments in
the Mutual Fund Industry.
- Non-Resident Acquisitions of Canadian Businesses, CBAO Institute
of Continuing Legal Education, annual conference January 1996.
- Financing Mutual Fund Sales Commissions - Recent Innovations,
Federated Press Financial Products Summit, Toronto, March 31, 1998.
- Winning the Game: Tax Effective Financing, Synergy Energy
Conference, Toronto, October 19, 1998.
- The New Electricity Market: Financing Options, Canadian Tax
Foundation, 1998 Annual Tax Conference, October 25-28, 1998.
- Clone Funds: Structuring Your Fund to Ensure Regulatory Compliance,
Institute for International Research, February 1, 2000.
- Current Mutual Fund Developments and Products, Canadian Tax
Foundation, September 24-27, 2000.
- Opportunities for Municipally Owned Corporations in Ontario's Electricity
Market, Stephen J. Fyfe and William McLean, in 2002 Canadian Tax Journal,
Volume 50, N o 3, page 970.
- Tax Advantaged Closed-End Investment Trust, Stephen J. Fyfe
and Jonathan Willson, in 2003 Federated Press Corporate Finance vol. X, number
4, page 988.
- U.S. Investment Funds Tax Strategies for Canadian Real Estate Securities,
Stephen J. Fyfe, presented at American Bar Association Joint Fall CLE Meeting,
Chicago, September 11-13, 2003.
- The Taxation of Renewable Energy Investments in Canada, Stephen
J. Fyfe, presented at Insight's "How to Profit from the Business of Renewable
Energy" Conference, October 20-21, 2003.
- Application of Foreign Investment Entity Rules to Outbound Investments
by Canadian Mutual Funds, Stephen J. Fyfe, in December, 2003 CCH International
" REOP Proposals Create Significant Tax Planning Issues, Stephen J. Fyfe,
Spring, 2004, Borden Ladner Gervais firm publication in Tax Law Update.
- Structured Products - Choosing A Structure for Split Capital Funds,
Stephen J. Fyfe, Fall, 2004, Borden Ladner Gervais firm publication in Tax
Law/Investment Funds Bulletin.
- Closed End Funds and Covered Call Options, Stephen J. Fyfe,
January, 2005, Borden Ladner Gervais firm publication in Tax Law/Investment
- Tax Issues Affecting Distributors in the Electricity Markets,
Stephen J. Fyfe and Francesco Gucciardo, January 27, 2005, presented at the
Electricity Distribution Systems & Technology Conference.
- Canada Extends Source Taxation for Investment Funds, Stephen
J. Fyfe, February, 2005, Borden Ladner Gervais firm publication in Tax Law/Investment
- Canadian Tax Liability for Energy Trading, Stephen J. Fyfe,
May 2006, Borden Ladner Gervais firm publication in Energy Markets Bulletin
for Energy Trades.
- Transfer Tax Update, Stephen J. Fyfe, William McLean and Francesco
Gucciardo, October 2006, Borden Ladner Gervais firm publication in Energy
- Structured Products and the Proposed SIFT Legislation, Stephen
J. Fyfe and Craig Webster, January 10, 2007, Borden Ladner Gervais firm publication
in Tax Law/Investment Funds Bulletin.
- SIFT Relief for Closed-End Investment Funds, Stephen J. Fyfe,
January 23, 2008, Borden Ladner Gervais firm publication in Tax Law/Investment
- Flaherty Foregoes New Shoes to Deliver Budget Message, Stephen
J. Fyfe, Gar Knutsen, Sal Mirandola, Elinore Richardson and Daniel Lang, February
26, 2008, Borden Ladner Gervais firm publication in Tax Law/Investment Funds
- Stephen spoke at the Federated Press Tax-Effective Private Equity &
Investment Funds Seminar on May 16, 2006. His presentation was called "Innovative
Investment Strategies for Closed End Funds".
- Stephen spoke at the Federated Press Taxation of Corporate Reorganizations
Conference on January 10, 2007 on the "Reorganization of Structured
- Stephen spoke at the Canadian Institute's Symposium on Retail Structured
Projects on April 24, 2007 on "Managing Tax Risks for Structured
- Stephen spoke at the Ontario Bar Association 2008 Institute of Continued
Legal Education on January 5, 2008 on "Strategic Issues for Income
Trusts " with Philippe Tardif".