Sebastien Desmarais

Total 53 Posts

Sébastien Desmarais is a Tax and Estate Planner at TD Wealth, Wealth Advisory Services.

The Foreign Corporation on Death – Where Do We Start?

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A hand holds a red puzzle piece over grey pieces on a table.

When an entrepreneur dies owning shares or an interest in a foreign corporation, the executor is faced with a challenging situation.  An estate with ownership or an interest in a foreign corporation raises specific and complex tax rules that leave the executor and family members hoping the deceased has a well-organized tax and estate plan in place. Where to start? The executor needs to be proactive. First, it needs to….

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Estate Administration, Estate Planning, Executors, International, Tax Issues

Shareholder Loan on Death

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There are several ways to extract funds from a business; salary, dividend, bonus or a shareholder loan. When a shareholder withdraws corporate funds by way of a shareholder loan, it will be recorded in the business financial statements and comes with tax implications to the shareholder.  This is because, a shareholder loan that is outstanding for more than one (1) tax year from the end of the tax year in….

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Estate Administration, Estate Planning, Executors, Loans, Tax Issues

Giving Thanks

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This article is written by Nicole Ewing, Principal, Wealth Planning Office, TD Wealth Friends, I’ve got to call it straight, this has been a tough year. Mentally taxing, if you will. Perhaps they all are in their own way, but this one was particularly hard. Life was great, don’t get me wrong. But this tax and estate and wealth planning stuff was a battle. Navigating bare trusts, joint accounts, vacant….

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Estate Planning, Power of Attorney, Practice Management, Tax Issues

The Season of Giving is Upon Us

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This post was written by Jess Merber and Jo-Anne Ryan – TD’s Private Giving Foundation and Philanthropic Advisory Services. With the charitable giving season in full swing, it’s important to understand year-end tax planning and the value it can offer to clients who have charitable ambitions. When talking to clients, we recommend they consider these points: Donate publicly traded securities. It is always better to donate appreciated publicly traded securities….

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Charitable Giving

U.K. Tax & Inheritance Tax – What’s New?

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There have been many changes since my article on the U.K. Inheritance tax (“IHT”) applying to a Canadian resident. Indeed, we’ve seen a Spring U.K. budget introducing an overhaul of the U.K. resident non-domiciled individuals (“non-doms”) regime, a U.K. election bringing a new government and another Autumn budget. It has been an exhausting few months keeping up with the U.K. tax changes. What does it mean to Canadians? IHT Moving….

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Estate Administration, Estate Planning, International, Succession Planning, Tax Issues

Penalties Under the Income Tax Act – Executor Beware

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As a follow-up to my last article on key filing deadlines for estates, this article discusses tax penalties and interest. For executors, missing a tax deadline can come with serious tax implications, notably the application of a penalty and interest. Late Filing Penalty Under the Income Tax Act, there are several sections dealing with the application of penalties.  Deadlines are important and there is a penalty equal to five percent….

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Estate Administration, Executors, Interest, Liability, Tax Issues
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