In 2006, Ber Tov Capital Corporation originated the Ber Tov Flow-Through Charity Initiative to assist major Canadian philanthropists and charities. Ber Tov applied for and received the first Canadian income tax ruling approving this structure on ________, [2007.]
In 2011, Ber Tov extended the use of its structured flow-through share transactions to high-income individuals seeking to reduce their income taxes through the Ber Tov Flow-Through Share Initiative
Implementing the Charity Initiative and the Share Initiative, Ber Tov has provided advice to its clients regarding the purchase and sale of more than $500 million of flow-through shares since its formation in 2006.
Ber Tov is an Exempt Market Dealer registered with the Securities Commissions of Ontario, Alberta, British Columbia, Manitoba and Quebec.
Ber Tov’s Team
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Howard Berglas, CA, B Comm, TEP
Howard is a chartered accountant who has exclusively devoted his practice to income tax planning since 1985. He served as the senior tax partner of a mid-sized accounting firm in Montreal during the early 1990’s. In 1995, Howard moved to Toronto and together with Michael Cadesky formed what is today the largest independent accounting firm in Canada restricting its practice to taxation. In 2001, Howard left Cadesky & Associates to start his own practice specializing in developing proprietary tax plans for high net worth individuals.
In January 2006, Howard founded Ber Tov Capital Corporation to implement the Flow-Through Charity Initiative. Since developing the Initiative, Howard has spearheaded Ber Tov’s efforts in advising clients on the purchase and sale of more than $500 million of flow-through shares.
Howard’s duties at Ber Tov include ensuring the tax compliance of the Initiative, which has included the procurement of Tax Rulings from the Canada Revenue Agency. He also acts as a liaison between purchasers of flow-through shares, charities and their respective tax advisors to ensure maximum benefits are achieved as a result of each particular Initiative.
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Avi Wachsman, BA
Avi’s role at Ber Tov centers on the analysis of flow-through share issuers in the mining and oil/gas sectors, as well as interaction with underwriters and investment dealers who implement the transactional aspects of each Initiative. Avi’s past experience in the financial sector includes positions at NASDAQ and Goldman Sachs in New York City, as well as acting as a Portfolio Manager of a hedge fund for 5 years.
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Jake Levinson, CA
Jake spent five years working for a “Big Four” accounting firm where he received his professional designation. His experience includes working with owner-managed companies, charities, and brokerage firms. Jake’s role at Ber Tov is to focus on the management of transactions, documentation, and the analysis of each deal to ensure all transactions meet the client’s goals.
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Steven Balsam, JD, CFA
Steven has a dual background, having practiced law in New York City and investment management here in Toronto. He brings that background to Ber Tov, where he assists in the research process and analyzes subscription agreements to ensure a purchase of shares meets Ber Tov’s criteria. Steven also handles compliance, internal legal research and contract issues. Steven received his bachelor’s degree in 1995 from Yeshiva University and his law degree from Harvard Law School in 1998. Steven received the CFA designation in 2006. He previously served as a Portfolio Manager at Manitou Investment Management and as a Tax Attorney at Katten Muchin Rosenman in New York City.