Stephen Fyfe

Senior Counsel


Stephen’s practice focuses on the business and tax implications of mergers, acquisitions, corporate reorganizations and project financing. His recent focus is on energy and infrastructure markets.

Stephen works with his clients to implement efficient financing and exit strategies for developers and equity investors. He has particular expertise working with tax-exempt entities and navigating complex provincial tax regimes.

His practice also includes:

  • developing and implementing tax-efficient financing structures
  • advising municipal corporations on the unique aspects of their tax regime
  • providing corporate tax advice on operations and investment activities


  • Advisory tax and structuring work on sales of various telecom, water heater and street lighting assets by several municipal electricity utilities.
  • Advised on tax and corporate finance aspects of multiple renewable power projects from development, to construction, to operation to divestiture.
  • Advised on various acquisitions and mergers involving renewable energy companies, and income trusts.
  • Principal tax and structuring advisor on largest merger of municipal electricity utilities in Ontario.
  • Advisory work related to acquisition and financing of various water infrastructure assets.

Beyond Our Walls

Professional Involvement

  • Member, International Fiscal Association
  • Member, Canadian Tax Foundation
  • Member, American Bar Association

Awards & Recognitions

  • Recognized in the 2021 and 2020 edition of The Canadian Legal Lexpert® Directory (Investment Funds & Asset Management and Corporate Tax) and 2018 edition (Corporate Tax)
  • Recognized in the 2021 edition (and since 2015) of The Best Lawyers in Canada® (Structured Finance Law)
  • Recognized in the 2019 and previous editions of Chambers Global — The World's Leading Lawyers for Business (Tax)
  • Recognized in the 2019 edition (and since 2016) of Chambers Canada — Canada's Leading Lawyers for Business (Tax)
  • Recognized in the 2019 edition (and since 2013) of The Canadian Legal Lexpert® Directory (Investment Funds & Asset Management)
  • Recognized as a 2019 Acritas Star

Bar Admission & Education

  • Ontario, 1986
  • Alberta, 1984
  • LLB, Queen's University, 1982