Steven Frye

Total 170 Posts

 Website

Baker Tilly WM LLP is a leading, independent audit, tax, and business advisory firm based in Vancouver and Toronto, serving clients across Canada. Drawing on well-trained teams across a variety of disciplines, we ensure the alignment of our professional’s skills and experience with client requirements, resulting in exceptional service and business outcomes.

TRUST REPORTING: NEW REQUIREMENTS COMING SOON!

• • 0 Comments

Under the current rules, a trust only needs to file an annual tax return but generally does not need to file the return if it does not earn an income or make any distributions in the year. (Notwithstanding that the Canada Revenue Agency has increased its demand for “nil returns” to be filed under certain circumstances). Further, there is currently no requirement for the trust to report the specific identity….

TRUST REPORTING: NEW REQUIREMENTS COMING SOON! Continue Reading »

Canada Revenue Agency, Estate Administration, Estate Planning, In the News, Tax Issues, Trustee, Trusts, Uncategorized, United States

Executors Remuneration

• • 2 Comments

Occasionally, I (like many of fellow bloggers for sure) get asked – what is appropriate remuneration for an executor or executrix to administer an estate – often in circumstances where remuneration is not specified or even referred in the deceased’s will or otherwise. Bottom line, what are the guidelines and how much is enough? A recent court case in the Supreme Court of British Columbia Le Gallais Estate (re) 2108….

Executors Remuneration Continue Reading »

Estate Administration, Estate Administration and Probate Applications, Estate Litigation, Executors, Passing Of Trustees’ and Executors’ Accounts, Trustee Compensation, Uncategorized, Wills

RRSP’s and Early Withdrawals.

• • 3 Comments

Registered retirement savings plans (RRSP’s), introduced in 1965 by the way, are a great vehicle for retirement savings and a keystone found in most retirement and estate plans. It is one of the few ways to earn an income-tax reduction in your earning years (the amount you contribute is tax deductible). Income tax is paid on RRSP money when it is withdrawn, when you are likely in a lower-tax bracket…..

RRSP’s and Early Withdrawals. Continue Reading »

Canada Revenue Agency, Estate Planning, In the News, Investments

SPOUSAL SUPPORT AND BEYOND?

• • 0 Comments

I was traipsing thru some estate journals and articles recently and I stumbled upon the reporting of a recent matrimonial case which gave me pause, and to many practitioners in estate and matrimonial matters, I am sure. Practitioners have long held the view that entitlement to spousal support under most matrimonial settlements do not survive the death of the spouse receiving the support.  As one Justice noted in a recent….

SPOUSAL SUPPORT AND BEYOND? Continue Reading »

Contracts, Estate Administration, Estate Litigation, Estate Planning, Executors, In the News, Separation, Spouse, Uncategorized

What to do when a loved one dies?

• • 1 Comment

Believe it or not, this is the title of a recent release from the Canada Revenue Agency (“CRA”). Is there really a softer side to the CRA? Let’s face there is a lot to do after a loved one dies, and a lot of it not related to tax. But from experience, it does not take long for the subject to come up, which reminds me of the time I….

What to do when a loved one dies? Continue Reading »

Canada Revenue Agency, Estate Administration, Executors, In the News, Tax Issues

SHAREHOLDER REMUNERATION PLANNING

• • 0 Comments

Business owners-managers put money in and take money out on a regular basis during the year, and at the same time often use the business bank account for what may appear to be personal expenditures. This often leads to shareholder advance balances at year end and some major bookkeeping challenges to boot. These balances are often part of the consideration to determine shareholder bonuses and dividends at year-end, the characterization….

SHAREHOLDER REMUNERATION PLANNING Continue Reading »

Canada Revenue Agency, Canadian and US Tax Treaty, Estate Planning, Investments, IRS, Small Business, Tax Issues, Uncategorized
Scroll to Top