Job Title: Senior Director, Taxation
Reports To: Chief Financial Officer
Department: Corporate Accounting
The successful candidate will be responsible for managing all tax-related matters for the Trust and its subsidiaries, including investment structuring, tax planning, reporting and compliance.
The successful candidate will provide leadership and coordination of the Trust’s income tax planning, particularly as it relates to the SIFT rules, financial planning, and budget management functions primarily related to the Trust’s new development initiatives and businesses. Be very involved and upfront with the exciting new transactions the Trust is considering and serve as the “translator” between the business people and the technical tax people.
The specific duties and responsibilities for this position include but are not limited to working closely with departments leading current and future development activities to accomplish the following:
• Develop and implement tax strategies for the Trust’s strategic initiatives
• Lead tax aspects of new investment fund structures for wholly-owned and JV entities, corporate and JV level debt, equity offerings and internal corporate reorganizations
• Perform quarterly SIFT tax testing and ensure the Trust’s REIT Qualification
• Manage and oversee all tax compliance matters, including preparation and filling of all tax return, and liaise with JV tax planning and reporting
• Prepare transaction fund flow- collaborate with finance, legal and accounting on cash management and fund flow
• Stay abreast of new tax laws and legislation, advise on the potential impact on the Trust’s tax position
• Manage and coordinate the preparation of all SIFT related information and related planning initiatives for internal management and board reporting and with external tax advisors to ensure the REIT complies with all SIFT rules and requirements. Be very involved early on with new deals and new transactions the Trust is considering so that the transactions are structured in a way that allows the Trust to stay on side with all SIFT requirements. Develop and maintain forecast models to ensure all existing and contemplated businesses and transactions are factored into the Trust’s SIFT planning;
• Ensure the REIT’s agreements, structures and business associated with new development initiatives the Trust carries out with Joint Venture Partners or on its own, including: residential condominium developments, high-rise residential rental developments, low-rise residential developments, office developments, self-storage developments, retirement home developments, and other new development/project initiatives are all conducted in such a way as to satisfy all SIFT tests currently and in the future;
• Coordinate the management and preparation of all corporate tax related filings and related compliance requirements including Trust unitholder T3 and related reporting requirements and all corporate partnership compliance requirements (T5013);
• Continually assist in the monitoring and review of accounting processes and procedures, including those that pertain to the maintenance of an efficient tax structure, to ensure that CEO and CFO certifications can be executed regarding internal controls and disclosure controls;
• Assist with the preparation of monthly consolidated financial reporting requirements and all quarterly public disclosure related to new development initiatives;
• Establish and manage an enhanced internal monthly reporting framework for all new projects and developments;
• Participate with other team leaders to develop an enhanced cash flow forecasting and reporting model related to new development initiatives;
• Assist with the establishment and management of an enhanced internal control framework for all new developments/projects;
• Identify opportunities to continuously improve procedures, or develop new ideas, methods, techniques and policies to sustain a competitive edge within the changing market;
• Recommend and implement changes as appropriate to improve internal controls and / or efficiencies;
• Participate in COE (correction of error) meetings and then assist in implementing changes where necessary or desired. The successful candidate will also strive, continuously, to not only improve the accounting and administrative process, but also ensure that appropriate respect and attention is given to other functional areas of the organizations, our unit holders, our partners/co-owners, our auditors, our tenants and outside vendors with which they must coordinate to accomplish their mission; and
• Assist with special projects as required.
• Professional Accounting designation required (CPA, CA, CGA, CMA);
• University degree
• Minimum 10 years’ experience, with 5+ years at director level & above & in-depth real estate experience, candidates will have held responsibility for the strategic & financial, budgeting & forecasting process of a listed, public company;
• Exceptional knowledge of SIFT rules and application in a complex structure and diverse real estate environment;
• REIT experience highly desirable;
• Strong knowledge and experience with IFRS;
• Exceptional knowledge of income tax, finance, accounting, budgeting, and cost control principles including Generally Accepted Accounting Principles.
• Superior working knowledge of accounting practices as applied to consolidated financial and management reporting (including quarterly reporting and preparation of Management’s Discussion and Analysis reports), cash flow forecasting, financial statement analysis and interpretation in a real estate development and property management environment;
• Ability to analyze financial data and prepare financial reports, statements and projections;
• Leadership & advanced communication, stakeholder & relationship management skills required to ensure information is gathered, analyzed & prepared for review by exec team and Board approval.
• Take ownership in making great business decisions;
• A self-starter with strong organizational skills;
• Superior Excel and Word skills;
• Knowledge of automated financial and accounting reporting systems;
• Working knowledge of short and long-term budgeting and forecasting, rolling budgets, and product-line profitability analysis;
• Working knowledge of Yardi software preferred.
The Senior Director Taxation must be client focused, advocate and communicate a positive image of the company, both internally and externally. The Senior Director, Taxation shall take accountability for decisions made and conduct oneself in a respectful and ethical manner in representing the company’s interests. The Senior Director, Taxation demonstrates entrepreneurialism and behaves like an “owner” in carrying out daily tasks and responsibilities; demonstrating creativity and resourcefulness in achieving desired results. The Senior Director, Taxation is expected to be a team player and work effectively with colleagues and associates in terms of input, sharing of ideas and working to achieve financial and other common goals.
We are an equal opportunity employer committed to an inclusive and accessible recruitment and selection process. If you are contacted about an employment opportunity, please advise if you require accommodation.