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L. David Fox

416.733.5264
Canadian Legal Lexpert Directory

"We focus on understanding the real world in which our clients operate so as to provide expert and practical advice with respect to tax, tax dispute resolution, wills and trusts which makes sense for the particular needs, goals and unique circumstances of our clients. I focus on building personal relationships with my clients, so that I can deliver top-notch, timely and client-specific advice."

David wants success for his clients and invests himself in helping them to achieve it. As a tax lawyer, David’s focus is working with clients through the complexities of tax issues, but doing so in a practical fashion. David works to understand the “real” world in which his clients operate, something which is critical in order to provide advice geared to his clients’ specific circumstances, needs and goals. Concentrating, not only on advising his clients on the details of tax law, but also on the big picture of how such advice impacts clients’ businesses and lives, David ‘s clients see him as a trusted advisor who can be counted on to provide expert, timely, practical and cost-effective guidance.

David started out his career as a Certified Public Accountant (U.S.A.), but wanting more client interaction and opportunities to strategize and problem-solve, he turned to law. Because of his background in accounting, he is extremely well-versed in the financial components of business as they relate to and impact structuring and planning transactions, tax disputes and tax, estate and succession planning.

He works with clients on income tax planning and implementation with respect to domestic and international corporate transactions, including purchases and sales of businesses and reorganizations. David also assists non-residents entering the Canadian market, advising such clients on the tax aspects of planning and structuring entry into the Canadian marketplace, cross-border employment and assignments, secondments and transfers of non-resident employees.

Advising a wide range of clients, from individuals to large, multinational corporations, David offers significant expertise and is particularly adept at working with clients throughout tax audits, objections, appeals and voluntary disclosures.

Prior to joining CCSB, David was a Partner in the Taxation Group of Fasken Martineau DuMoulin LLP, an international Canadian law firm. He was attracted to CCSB owing to its expertise in its areas of practice, commitment to providing a superior level of personal service to its clients and the strength of the firm’s reputation within its market and among other tax professionals. He is dedicated to continuing to provide the top-notch, expert, personal service that CCSB clients have come to expect and rely on, while also engaging the next generation of leaders of private and owner-managed companies and entrepreneurs.

Memberships

David is a member of the Planning Committee of the Canadian Tax Foundation’s Ontario Tax Conference.

He is the Past Chair of the Executive of the Taxation Law Section of the Ontario Bar Association and completed a two-year term as the National Reporter for Canada for the Taxes Committee of the International Bar Association. He completed Parts I and II of the In-Depth Tax Courses offered by the Canadian Institute of Chartered Accountants (now CPA Canada), as well as the Canadian Bar Association’s Tax Law for Lawyers course.

A member of the Canadian Bar Association, the Ontario Bar Association and the Canadian Tax Foundation, David is also the Past Chair of the Board of Directors of The Gatehouse Child Abuse Investigation and Support Site, a charity which assists survivors of child abuse.

Education

David earned his Bachelor of Laws degree from Western University in 2002 and was called to the Bar of Ontario in 2003.

Before becoming a lawyer, he worked as an auditor and tax accountant at PricewaterhouseCoopers LLP (Massachusetts and Connecticut) and was licensed as a Certified Public Accountant by the State of Maryland in 2000. He graduated with a Bachelor of Science in Business Administration, majoring in accounting, from Nichols College in Massachusetts in 1997, where he was the Gold Medalist of his graduating class. While at Nichols College, he played four years on the school’s varsity hockey team, captaining the team in his senior season. He was named to the NCAA Academic All-American team for the 1997 season.

Proposed Tax Amendments — Effect on the Life Cycle of the Family Farm

Proposed amendments to Canada's Income Tax Act will create a challenging new tax environment for the owners of family farms.

The Family Cottage - 10 Tips for Tax and Estate Planning

Careful consideration should be given to the family cottage when undertaking tax and estate planning.

Takeovers and Tax Issues

Presented at the 20th Taxation of Corporate Reorganization Conference (Federated Press, January 26-28, 2016)

Practical Issues in Income Tax Disputes

Presented to the PD Consortium for Professional Accountants (December 9, 2015) and the BKR Canadian Tax Practice Group (September 25, 2015)

Best Practices for Implementing an Estate Freeze

Presented at a major Canadian financial institution’s Will and Estate Planner Tax Training Session (October 1, 2015)

Check Your Bequests—Deemed Resident Trust Rules May Apply

V(2) Personal Tax and Estate Planning (Federated Press) 230-43 (2015)

Tax Issues for Employment Lawyers

Tax Issues for Employment Lawyers

Practical Tips for Estate Freezes

Is this the right time to implement a freeze? How old are the beneficiaries? 21 year rule?

Voluntary Disclosures

Voluntary disclosures

Lawyers, Accountants and Privilege

Tax Executives Institute, Inc. (Toronto Chapter) Newsletter, Volume 4, Issue 4 (June 2015)

What is “Income splitting”? Can I split income with a family member?

Generally, Canada’s income tax system requires each individual taxpayer to report and pay income tax on all of the income which they earn.

Special Work Sites/Remote Location Tax Exemption -- An Update

Presented to the Canadian Electricity Association Income and Commodity Tax Committee (September 21, 2015)

Avoid a Border Dispute: Know the Tax Implications of Cross-Border Employment and Assignments

Volume 23 Number 5 Canadian Corporate Counsel 68-71 (March/April 2014)

Employee vs Independent Contractor: Issues, Best Practices

Presented to the Canadian Electricity Association Income and Commodity Tax Committee (May 8, 2013)

Death and Taxes: The Two Certainties

Guest Lecturer for “Wills and Estate Planning (LAW 340HI5)” University of Toronto Faculty of Law (March 27, 2013)

GAAR Interpreted: The General Anti-Avoidance Rule

Former Contributor. (Toronto: Thomson Reuter Canada Limited, 2006)

Acted in connection with the sale of a majority interest in an international consumer electronics business to U.S. venture capitalists for a purchase price of $60,000,000 U.S.

Routinely advise clients on the purchase, sale or financing of a business or investment assets.

Prepared and submitted voluntary disclosures to the Canada Revenue Agency on behalf of clients covering a range of tax errors and omissions including, inter alia, failing to report income earned and assets owned outside of Canada, failing to withhold and remit tax as required, failing to file information reporting forms with the Canada Revenue Agency and failing to report interests in offshore trusts and income or capital derived from them.

Acted for numerous families and businesses to plan and implement a butterfly reorganization to divide real estate holdings or business assets between shareholders or among family members.

Acted for clients to plan and implement transactions for succession planning purposes.

Frequently retained to represent clients in audits by the Canada Revenue Agency of family trusts, operating businesses and investment entities.

Frequently retained by clients to advise and implement estate freezes including the settlement of trusts and the reorganization of family businesses including steps to enable the client and the client’s family to benefit from the capital gains exemption and to defer the “death tax” liability on the value of investment holdings.

We advise clients on all matters relating to estate planning including planning and implementing estate plans, preparing wills, trusts (including alter ego trusts and joint partner trusts) and powers of attorney for personal property and for personal care.

Frequently advise clients on estate planning issues where one or more children reside outside of Canada and where the client or spouse is a citizen of the United States of America.

Frequently retained to advise on tax planning to structure divorce settlements including planning and implementing transactions to divide corporate or real estate assets in a tax-efficient manner.

Regularly represent clients to plan and implement multi-generational estate planning which achieves tax efficiencies and next-generation Family Law Act protection.

Frequently retained in connection with disputes with the Canada Revenue Agency, to advise taxpayers, prepare and file Notices of Objection and/or Notices of Appeal covering a variety of income tax issues including  the deductibility of business expenses, the alleged personal use of corporate owned property, the tax treatment of losses, the allocation of income by family trusts to beneficiaries, employee benefits, the treatment of awards, judgments or settlements, the alleged over-contribution to a  Tax-Free Savings Account (TFSA) the denial of credits for Scientific Research & Experimental Development, the denial of charitable donation credits for donations of artwork and many other tax disputes.

Have acted for taxpayers to challenge Ontario assessments of Employer Health Tax, Ontario Corporations Tax and sales tax.

Honours and Awards

  • 2017 Canadian Legal Lexpert Directory —“Repeatedly Recommended” in Corporate Tax Litigation
  • 2016 Euromoney — “LMG Rising Star” in Taxation

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