Registered charities have always been subject to limitations on what activities they can carry on, as well as a fair amount of compliance in terms of reporting obligations. One area where a charity is subject to limitations is with respect to its ability to carry on a business. Certain registered…
Month: January 2016
Total 19 Posts
Yesterday was Bell Canada’s ‘Let’s Talk’ day which is in support of mental health awareness. Bell has opted to talk openly about mental illness with the hope of reducing stigma so that people can get the help they need. One in five Canadians will have or have had a mental…
As per the Health Care Consent Act (HCCA), and equally applicable to the Mental Health Act (MHA), capacity to consent to treatment is defined as: A person is capable with respect to a treatment if the person is able to understand the information that is relevant to making a decision about…
Pursuant to the provisions of the Income Tax Act, the Canada Revenue Agency (“CRA”) has a three-year time frame within to reassess a taxation year, commencing with the date of the original Notice of Assessment. Beyond the three-year limit, returns are referred to as statute-barred. Nevertheless, the CRA can always…
On January 15th, 2016 the Department of Finance announced changes to the trust and estate donation rules that came into effect at the beginning of 2016. Three measures affected charitable donations, including two improvements to the “estate donation” rule. 1. Timing of Transfer Estate donations – gifts by will and…
The Canada Revenue Agency was recently asked to confirm whether, for a gift of ecologically sensitive land, the full amount of the capital gain realized by the corporation would be added to the corporation’s capital dividend account.
As we are living longer, more and more of us will find ourselves alone and without family. And yes, it is possible that a financial institution as POA can be your best support.
The Succession Law Reform Act (“SLRA”) provides that if a married person dies intestate, the first $200,000 (called the “preferential share”) of the deceased’s net estate goes to the married spouse[i]. Any funds remaining after the payment of the preferential share is shared among the spouse and children. In Re Estate of Richard…
The Canada Revenue Agency was recently asked if income or capital from a proposed spousal trust that was to be used to pay life insurance premiums on a spouse’s life would disqualify the trust from ever being a spousal trust eligible for rollover of property upon creation of the trust.
It can be tough to be a Trustee when the investment climate isn’t friendly.