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CommonWealth and Ernst & Young Discuss Tax Matters

Nov 17, 2015

CommonWealth Fund Services Ltd. continued in Lunch & Learn series, collaborating with Ernst & Young LLP ("EY") to hold a session titled “Tax Matters: What Every Hedge Fund Manager Needs to Know”. Gathering in CommonWealth’s Toronto office, investment fund professionals enjoyed a presentation by EY’s Canadian Wealth & Asset Management Tax Leader Joseph Micallef and Tax Manager Cindy Wu as well as CommonWealth’s in-house tax expert Adil Mawani regarding tax issues surrounding the investment fund industry.

Topics covered included legislative updates affecting the industry, an update on FATCA and the Common Reporting Standards, a discussion on various book-to-tax adjustments and corporate actions, and a walkthrough of the tax treatment of sample transactions for the year.

“CommonWealth creates a positive year-end tax process experience for our clients by leveraging cooperative relationships with the major accounting firms, possessing a strong technological platform, and ensuring foresight in planning and executing our innovative approach,” said CommonWealth’s Adil Mawani.

The Lunch & Learn series hosted by CommonWealth on a quarterly basis invites their investment fund manager clients to engage in roundtable discussions with peers and industry experts on the issues impacting their operations the most.


About CommonWealth Fund Services Ltd.

Founded in 2007, CommonWealth Fund Services Ltd. is a Canadian fund administrator servicing 100 domestic and offshore investment funds totalling more than $7.5 billion in assets. CommonWealth calculates fund net asset values on a daily, weekly, monthly, or quarterly basis, acts as transfer agent, and supports its clients with financial statement and tax return preparation. The firm has its Section 3416 qualification. CommonWealth’s parent company, Caledon Trust Company, is federally chartered and regulated by the Office of the Superintendent of Financial Institutions. Caledon acts as trustee for many funds which CommonWealth administers. Further information on CommonWealth is available on the company’s web site at www.commonwealthfundservices.com.