January 2016

Welcome Expansion on Charities Investing in Limited Partnerships

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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 charities, namely private foundations, are prohibited from carrying on any business, while others, namely public foundations and charitable organizations, are….

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Canada Revenue Agency, Charitable Giving

Let’s Talk- About Mental Health

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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 illness. This illness crosses all ages and Dementia, which I blog about routinely, is also defined within the mental health….

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Disability, Geriatric Care Management, In the News

Consent for Treatment and Conflicts between Substitute Decision Makers: Options for Resolution

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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 the treatment, and able to appreciate the reasonably foreseeable consequences of a decision or lack of decision. When a person….

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Capacity Law, Elder Care, Elder Law, Estate Litigation, Family Conflict, Geriatric Care Management, Guardianship, Power of Attorney, Powers Of Attorney and Guardianship Disputes

STATUTE-BAR ASSESSMENTS AND RELIANCE ON OTHERS

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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 reassess if it can prove fraud or misrepresentation in the return filed, regardless of whether the return is considered statute….

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Canada Revenue Agency, Estate Administration, Estate Planning, In the News, Investments, Property, Tax Issues, Trusts

60 Months: Estate Donations Revised

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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 direct designation gifts of life insurance and registered funds – were originally aligned with the 36-month graduated rate estate (GRE). ….

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Estate Planning, Philanthropy/Charitable Giving

CONFIRMATION OF CAPITAL DIVIDEND ACCOUNT ADDITION WHERE CAPITAL GAINS INCLUSION RATE FOR A CHARITABLE GIFT IS ZERO… AND A LIGHTER NOTE

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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. ….

CONFIRMATION OF CAPITAL DIVIDEND ACCOUNT ADDITION WHERE CAPITAL GAINS INCLUSION RATE FOR A CHARITABLE GIFT IS ZERO… AND A LIGHTER NOTE Continue Reading »

Canada Revenue Agency, Estate Planning
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