Practising tax law

David Nathanson
Davis LLP, Toronto

Pros:
• It’s intellectually challenging and generally lucrative work.

• Tax law cuts across almost all other areas of law.

Cons:
• The continual and voluminous reading required to stay up to date in the field.

• The high burnout rate of lawyers in this practice area.

Heather R. DiGregorio

Burnet Duckworth & Palmer LLP, Calgary

Pros:
• Tax law is a very creative field that involves finding and creating solutions for clients with a wide range of needs. If you enjoy innovative problem solving, then you will never be bored practising in this area. 

• The practice of tax law is very diverse and there are endless different areas in which you can specialize. Tax planners help businesses, individuals, estates, and charities accomplish their goals while attracting a minimum amount of tax. On the other hand, tax litigators help businesses and people resolve their disputes with the Canada Revenue Agency. No matter what type of personality you have, there will be an area of tax that interests and challenges you.

• Tax legislation is unique because it is actively used by governments as a policy tool. Economic and social objectives are achieved through changes to federal and provincial tax legislation. Following the changes and understanding the policies gives you a greater knowledge of the structure of our governing economic and social systems. 

• Tax law affects almost everything that people do, and yet so few people understand it. This makes tax lawyers a hot commodity, with valuable expertise. Not only that, there is always a need for tax lawyers, regardless of the state of the economy.

Cons:
• The learning curve in tax law is very steep, and the continuous learning requirements are extensive. It can take years to build up enough knowledge to advise clients competently. If you don’t have a genuine interest in the subject matter, then you won’t have the stamina to stick with it.

• It can be difficult to keep up with all of the changes to tax legislation, because governments make changes every year through their budget process.