Extended tax payment deadlines and interest relief on tax debt

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Further tax payment deadline extensions and interest relief on tax debt are on offer by the Canada Revenue Agency (CRA) during the COVID-19 pandemic. As announced on July 27, 2020, trusts now have until September 30, 2020, to pay income tax balances and instalments that would have otherwise been due on or after March 18, 2020 and before September 30, 2020. The CRA also says that all penalties and interest….

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Canada Revenue Agency, Executors, Liability, Tax Issues

Mementos and good memories

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We will all experience loss of a loved one and while my loss may be more recent than some, it can make these occurrences feel more vivid. Over the weekend I received the many boxes that I had packed up from my mother’s apartment.  While I started to sort them through I was overcome by the scent of her favorite perfume. It was reassuring and familiar and yet quite emotional…..

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Elder Care

To DIY Or Not To DIY

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Today’s blog is being brought to you by guest blogger, Jennifer Campbell, a law clerk in the Private Client Services group of Fasken LLP. I have been following the #MoneyMasterClass hosted by Gail Vaz-Oxlade, the former TV host of “Til Debt Do Us Part”, on Twitter since January 1, 2020.  Gail has provided some great tips about budgeting and cutting down on unnecessary expenses that I’ve found quite helpful.  This….

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Estate Planning, Wills

Foundation v. Charitable Organization

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[caption id="attachment_13341" align="aligncenter" width="766"] We Charity founders Craig and Marc Kielburger (Photo: Getty)[/caption] The WE Charity scandal has been fascinating to charity watchers.  On July 22, it was revealed that the Canadian Government contracted with the WE Charity Foundation for the Canada Student Service Grant (CSSG) program, not the WE Charity as previously reported. Parallel public foundations often co-exist with operating charities (charitable organizations), but the two-charity structure was confusing,….

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Estate Donations, Philanthropy/Charitable Giving, Uncategorized

Deleon v DeRanney and the Definition of “child” Under the SLRA

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In Deleon v. DeRanney, the Ontario Superior Court of Justice awarded some dependant support to a non-biological child who was part of the deceased’s unconventional family. As blog readers may be aware, the Succession Law Reform Act (SLRA) does not require that a child be the biological offspring of the deceased in order to receive dependant support – under section 57, the definition of “child” includes “a person whom the….

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Courts, Dependant Support, Estate Litigation, Estate Planning, Family Conflict

Someone else’s tax bill – Sometimes there is no getting away from it!

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In Dreger et al v the Queen (2020 TCC25), the beneficiaries of an estate bequest appealed assessments for unpaid taxes by the deceased. In this case, the deceased was an annuitant of a life income fund (“LIF”) and prior to his death, he designated to each of his daughters as his beneficiaries under a beneficiary designation in respect of the LIF. In his will, the deceased named his daughters as….

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Canada Revenue Agency, Courts, Estate Administration, Estate Litigation, Executors, Investments, Liability, Tax Issues, Trustee, Trusts, Uncategorized, Wills
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