Canada Revenue Agency

Qualified Disability Trusts: Some Positive Commentary from the Canada Revenue Agency

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This blog has been written by Darren G. Lund, Partner at Fasken LLP Each year in June, the Canadian branch of the Society of Estates and Trusts Practitioners holds its annual conference. One of the most eagerly anticipated sessions each year is the “CRA Roundtable”. At the Roundtable, representatives from the Canada Revenue Agency respond to questions submitted in advance by STEP on a range of tax issues of concern….

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Canada Revenue Agency, Disability, Estate Administration, Estate Planning, Tax Issues, Trusts, Wills

New Form T1141 and T1142 Filing Requirements

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Today’s Blog was written by Rahul Sharma, Partner, Fasken LLP, Toronto About three years ago, at this time of year, I wrote about T1141s and T1142s: Don’t Forget the T1141s and T1142s! – All About Estates.  These forms have been updated for the 2025 and future taxation years.  Details of the new forms and requirements are provided on the government of Canada’s website: About Form T1141 – Canada.ca and About Form T1142….

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Canada Revenue Agency, Tax Issues, Trustee, Trusts

Part II: Taxation of Trusts in Canada – The Flow-Through Nature of Trusts

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This blog has been written by Pritika Deepak, Associate at Fasken LLP. As we leave another year behind, it’s a fitting time to reflect on what tax and trust practitioners may often perceive as a period that often raises questions about the distribution of income from trusts to beneficiaries. To better understand this, it’s helpful to review the role trusts play as conduits or flow-through entities. Part I of this….

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Trusts

Can the CRA seize the proceeds of life insurance?

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An existing tax debt at the time of death can wreak havoc on the administration of an estate and can jeopardize the estate and insurance planning. This is because the Canada Revenue Agency (“CRA”) is not your typical creditor and has statutory powers to seize assets of the estate beyond what other creditors may seize. Personal Insurance If the insurance proceeds are payable to the designated beneficiary(ies) under the insurance….

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Estate Planning, Insurance, Tax Issues, US Taxes

Executors: Holiday Elf or Grinch?

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                                             Photo Credit: Universal Pictures This blog has been written by Sandra Arsenault, Law Clerk at Fasken LLP If you are the lucky (or more often unlucky) person appointed to administer an Estate, you may have more stress than usual this holiday season. I wrote this blog in hopes….

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Canada Revenue Agency, Estate Administration, Estate Administration and Probate Applications, Executors, Family Conflict, Wills
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