Valuation and the Tax Practice

Valuation and tax shelters
David W. Chodikoff

Valuation and estate freezes
Lori Clements Ralston

The valuation of Intellectual Property (IP) & the valuation of computer software
James L. Horvath
Steven Hacker

Dealing with The Department of Justice on valuation matters
Alexandra Brown

A litigator’s perspective on valuation issues in The Tax Court of Canada
David E. Spiro

Jim Horvath is a Partner at Deloitte (Toronto office), who over the past 31 years has specialized in business and securities valuations and related intellectual property. Jim has completed over 3000 business valuations and has extensive international experience having worked on mergers, acquisitions and valuations in over 50 countries. He has published widely, with his latest publication being "Advocacy & Taxation in Canada" (coeditor/ contributing author with David Chodikoff). Jim is a Fellow of the Canadian Institute of Chartered Business Valuators, a Chartered Accountant, an Accredited Senior Appraiser of the American Society of Appraisers and a Certified Commercial Real Estate Appraiser. Jim has a Bachelor of Mathematics degree and an MBA.

David W. Chodikoff, B.A (Spec. Hons.), M.A., LL.B., is a partner at Goodman & Carr LLP, specializing in Tax Litigation and International Finance/Tax Law. Prior to joining Goodman & Carr, David was counsel and a Crown prosecutor at the Ontario Regional Office of the Department of Justice Canada. For more than 13 years, David practiced exclusively in the area of tax litigation representing government interests in hundreds of tax cases. David is the conceptualizer, co-editor and contributor to Advocacy and Taxation in Canada, the first book of its kind in the country. Currently, David, together with Jim Horvath, is currently working on their next book, Taxation and Valuation of Technology (to be released in 2006). David teaches advocacy, negotiations and tax. He is a frequently requested speaker on the subjects of advocacy and taxation both in the public and private sectors.

Howard E. Johnson, MBA, FCMA, CA, CBV, CPA, CFA, ASA, is a Partner at Campbell Valuation Partners Limited. Howard has been involved in business valuation, acquisition, divestiture and related assignments for companies located throughout North America. He has acted as an expert witness in several matters involving valuation for income tax purposes, and he frequently is engaged by the Department of Justice and the Canada Revenue Agency in this regard. Howard is co-author of The Valuation of Business Interests (Canadian Institute of Chartered Accountants, 2001), co-editor of Canada Valuation Service (Carswell, periodical) and a contributing author to Advocacy and Taxation in Canada (Irwin Law, 2004). He is a frequent speaker to industry and professional groups throughout North America on the subjects of business valuation, acquisitions and divestitures. Howard holds a Bachelor of Commerce Degree from Concordia University, a Graduate Diploma in Public Accountancy from McGill University, and a Masters Degree in Business Administration from McMaster University. He is a Fellow of the Society of Management Accountants of Canada and a member of the Canadian Institute of Chartered Accountants, the Canadian Institute of Chartered Business Valuators, the American Institute of Certified Public Accountants, the Chartered Financial Analysts Institute and the American Society of Appraisers.

David Spiro is a Partner at Blake, Cassels & Graydon LLP in Toronto, where his practice is devoted exclusively to tax litigation and controversy resolution. David was an Associate at Blakes from 1989-1991 before moving to the Ontario Regional Office of the Department of Justice Canada, where he served, until April 2004, as senior counsel. While at the Department of Justice, David was involved in numerous complex tax litigation matters, including many reported tax decisions. He is well known to, and well respected by, the federal tax bar and judiciary across Canada. David chairs the annual Tax Litigation Skills Certificate Program at the Advocates' Society and serves on the Society's Education Committee. He is a regular speaker at meetings of the Taxation Law Section of the Ontario Bar Association and the Toronto Centre CRA & Professionals Consultation Group. David is also a member of the editorial board of Tax Litigation (a Federated Press publication).

Steven has 11-years of business valuations, litigation and transaction advisory experience. He has provided advice, and prepared reports for clients in connection with mergers and acquisitions, income tax litigation, tax and estate planning, matrimonial property valuations, shareholder and partnership disputes, business interruption litigation, and transfer pricing. His intangible asset valuation experience has included valuations of software, brands, asset management agreements, distribution networks, customer contracts, and customer relationships. His primary industry experience includes technology, manufacturing, telecommunications, and financial institutions. Steven is the co-author of two chapters in the book, "Advocacy and Taxation in Canada" (Irwin Law, 2004). Steven earned his MBA in 1984, and was qualified as a Chartered Accountant in 1986 and as a Chartered Business Valuator in 1998.

Lori Clements Ralston is a Senior Manager Tax at Deloitte and practices within the Private Client Advisors group of the Toronto office. Lori advises high net worth individuals, executives, professionals and business owners on tax issues that impact them currently and with a view to the future. Her area of expertise is domestic taxation and estate planning, using trusts and other structures that are customized to each client's individual needs. Lori also advises her clients with respect to various cross border tax and estate planning matters.

Another focus of Lori's practice is on philanthropy. Lori has assisted a number of her clients in the establishment of private foundations, but also advises on alternative methods for making charitable gifts.