Torys LLP, Tax | Chambers Global Profile

About

Provided by Torys LLP

We are a full-service tax team with a long history managing complex, large-scale and cross-border transactions and structuring challenges, as well as all phases of tax controversy.

Whether on a transaction, discrete tax matter or dispute, we bring sophisticated thinking and tax advice that progresses clients’ business objectives. We know how to help clients avoid the problems that can stall a deal or impede its success. When a transaction is complicated by multijurisdictional cash, operations, financing opportunities or targets, we collaborate with clients to find creative solutions for the situation at hand.

We advise on the likelihood of success on audit and how to present transactions to tax authorities to reduce the risk of reassessment. When a tax dispute arises, we handle all phases of tax controversy. With full-service tax capabilities in our Canadian and New York offices, we have regular exposure to evolving tax structures in both jurisdictions. Our clients are financial institutions, multinationals, and domestic companies, and we are also longstanding counsel to Canada’s largest pension funds and asset managers.

Chambers Review

Provided by Chambers

Tax - Canada

Band 2

What the Team is Known For

Torys possesses a solid tax team with strong capabilities in the financial services sector. Its Toronto, Montréal and Calgary-based tax lawyers regularly advise on the tax aspects of prominent transactions handled by the firm's standout corporate practice. The firm is also known for its large tax advisory group, including its robust cross-border tax planning expertise bolstered by its New York office. It is additionally well regarded for its strength in tax controversy and litigation.

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Work Highlights

Provided by Torys LLP

The team at Torys advised Brookfield on the tax aspects of the spin-off of a 25% interest in its asset management business.

Strengths

Provided by Chambers

"I rate the depth and breadth of the Torys tax team and its commercial awareness very highly."

Tax respondent
Global

"The lawyers are very technical and client-focused."

Tax respondent
Global

"I really enjoy working with Torys. I find the lawyers' advice to be very concise, digestible and strong in understanding complexities and deviations."

Tax respondent
Global

"Torys' lawyers work very well as an integrated team, and they are very commercial."

Tax respondent
Global

"This is a very experienced, thorough and thoughtful team."

Tax respondent
Global

"I rate the depth and breadth of the Torys tax team and its commercial awareness very highly."

Tax respondent
Global

"The lawyers are very technical and client-focused."

Tax respondent
Global

"I really enjoy working with Torys. I find the lawyers' advice to be very concise, digestible and strong in understanding complexities and deviations."

Tax respondent
Global

"Torys' lawyers work very well as an integrated team, and they are very commercial."

Tax respondent
Global

"This is a very experienced, thorough and thoughtful team."

Tax respondent
Global

Notable Practitioners

Provided by Chambers

Jerald M Wortsman

Band 1

Jerald Wortsman enjoys an outstanding reputation in the Canadian tax market. He is particularly noted for his strong relationships across the financial services sector, from high-street banks to a host of private investors, including REITs and pension funds. Based in Toronto, he is the head of the firm's tax practice.

"Jerald Wortsman is the best - he is a genius, a pleasure to deal with and a flexible thinker; he will truly think about an issue from all directions."

"He has a very profound technical knowledge coupled with great understanding of the business."

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Corrado Cardarelli

Band 2

Corrado Cardarelli provides counsel on tax structures and reorganisations, as well as commercial transactions. He is based in Toronto.

"Despite his experience, Corrado Cardarelli is humble and thoughtful, which makes him a pleasure to work with."

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Martha MacDonald

Band 2

Martha MacDonald handles a range of tax disputes, including those relating to transfer pricing, for clients including financial institutions. She leads the firm's tax controversy practice from Toronto.

"Martha MacDonald is very bright and extraordinarily knowledgeable in the tax controversy space."

"Martha takes a very practical approach to litigation, and is strong in walking through and explaining complex tax issues."

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Gwen Watson

Band 4

Gwen Watson impresses for her role as lead tax adviser on a number of transformative agreements, including acquisitions and corporate reorganisations. She is based in Toronto.

"Gwen Watson is very technical yet very easy to deal with."

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John J Tobin

Band 4

Toronto-based John Tobin advises on acquisitions, reorganisations and securities transactions, as well as contentious mandates concerning the interpretation of tax regulations.

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Andrew Wong

Band 5

Andrew Wong regularly leads on tax aspects of complex transactions. He is experienced in handling deals such as M&A.

"Andrew has been a great legal tax adviser to work with."

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Craig Maurice

Band 5

Calgary-based Craig Maurice acts as a tax adviser across a range of different transactions, including acquisitions, investments and project finance, as well as corporate restructuring.

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