Graduated Rate Estate

Principal residence – deceased vs. estate (Part 2): Time is of the essence

• • 0 Comments

In my previous blog, Principal residence – deceased vs. estate, I discussed the opportunity for an estate to claim a capital loss on a property that was previously the principal residence of the deceased and carry it back to the deceased’s final tax return under subsection 164(6) of the Income Tax Act (ITA). A number of readers reached out to me regarding the difficulties of realizing the loss and filing….

Principal residence – deceased vs. estate (Part 2): Time is of the essence Continue Reading »

Estate Administration, Real Estate, Tax Issues

Estate Donations = Faster Distributions

• • 1 Comment

[caption id="attachment_4590" align="alignright" width="761"] Faster Distributions of Estate Donations[/caption] Matt Johnston, my tax colleague at Scotiatrust, says the 12-month tax filing deadline is upon us. The initial round of major distributions to charities will occur in January 2017 under the “estate donation” rules introduced in 2016. As mentioned in my previous blog, executors and their advisors are discovering that new rules create new procedures. And the new procedures may lead….

Estate Donations = Faster Distributions Continue Reading »

Estate Administration, Estate Donations, Philanthropy/Charitable Giving
Scroll to Top