Fola Olaniyan
Associate
Practice Focus
Fola acts for high net worth individuals and corporations and their accounting and financial advisors to formulate and implement creative tax planning strategies, by way of tax-deferred and tax-driven transactions including estate planning, estate freezing, income splitting, reorganization and recapitalization of closely-held corporations and trusts.
Year of Bar Call
2010, Law Society of Alberta
1999, Nigeria
Education
Income Tax Practice Course, Canadian Institute of Chartered Accountants, 2010
Masters of Law, Erasmus University Rotterdam, 2005
Barrister at Law, Nigerian Law School, 1999
Bachelor of Laws, Lagos State University, 1997
Professional Associations and Memberships
Member, Law Society of Alberta
Member, Canadian Bar Association
Member, Calgary Bar Association
Member, Nigerian Bar Association
Representative Work
Recent experience in tax litigation and the resolution of tax disputes along with corporate tax includes:
- Co-representing taxpayer to challenge a $45 million loss reassessment in the Tax Court of Canada.
- Preparation of detailed submissions for presentation to the Canada Revenue Agency.
- Successfully resolving controversies before the Canada Revenue Agency.
- Advising taxpayers with respect to various rights and obligations under the Income Tax Act.
- Advised clients including high net worth individuals and private corporations on a variety of tax and estate planning matters including income-splitting with trusts.
- Drafting comprehensive estate planning documents, including simple and complex wills, codicils, life insurance trusts, enduring powers of attorney and personal directives.
- Represented taxpayers in the defence against arbitrary net worth assessments.
- Provided tax advice to trusts and partnerships with regard to wide-ranging issues.
- Advised owner-managers of closely-held and family-owned businesses and individuals with a view to achieving tax optimization.
- Assisted with tax-structured acquisitions and divestitures.
- Advised client concerning $3,000,000 business loss/adventure in the nature of trade.
- Drafted and filed several Notices of Objection and Notices of Appeal.
- Prepared several Requests for Taxpayer Relief (Fairness Applications) pursuant to subsections 220(3.1) and (3.2) of the Income Tax Act.
Personal
Fola enjoys music, spending time with her family and learning new languages. She has travelled around Europe, North America, Australia, Asia and Africa.