income tax act

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

Part I: Taxation of Trusts in Canada – A Broad Overview

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This blog has been written by Pritika Deepak, Associate at Fasken LLP. Trusts play a significant role in wealth management and tax and estate planning. This blog post is not intended to supplant the important role played by the various and excellent texts written and published on the taxation of trusts.  Rather, this blog post skims the surface of some important points to consider when dealing with trust taxation. Trusts….

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Estate Planning, Trusts

Seeking Trust and Truth in Times of Deepfakes and Deception

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This blog has been written by Sandra Arsenault, Law Clerk at Fasken LLP. It was necessary for me to obtain personal information from a beneficiary of an estate this week. I needed their full legal name, social insurance number, birthdate, country of residence, and full address. While on the call, I learned this 98-year-old had recently been the victim of credit card fraud and had also been robbed while attending….

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Uncategorized

Real Estate in Estate Planning: Tax Consequences

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Today’s blog was written by Jessica Butler, Law Clerk at Fasken LLP. Many Canadians hold a large share of their wealth in personally-owned real estate and consider it to be a critical part of their wealth-building strategy. Donald Sutherland, the well known Canadian actor who passed away in June of this year, is purported to have had a multimillion dollar real estate portfolio at the time of his death. For….

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Estate Planning, Probate Tax, Property, Real Estate, Tax Issues, Uncategorized

Breaking Up is Still Hard to Do?

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This blog has been written by Rahul Sharma, Partner, Fasken Martineau DuMoulin LLP, Toronto Nearly a year ago, I made a post on this blog entitled “Breaking Up is Hard to Do – Ceasing to be a Canadian Tax Resident may be Easier Said than Done” (Breaking Up is Hard to Do – Ceasing to be a Canadian Tax Resident may be Easier Said than Done – All About Estates). ….

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Canada Revenue Agency, Estate Planning, In the News, Investments, Succession Planning, Tax Issues

Breaking Up is Hard to Do – Ceasing to be a Canadian Tax Resident may be Easier Said than Done

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This blog has been written by Rahul Sharma, Partner, Fasken Martineau DuMoulin LLP, Toronto My blog posts so far this year have focused on the significant volume of new residents to Canada and the associated tax and legal considerations, particularly where new residents are entering the Canadian tax system with assets and investments in their countries of origin or other global jurisdictions.  In this blog post, I flip the discussion….

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Canada Revenue Agency, Canadian and US Tax Treaty, Estate Planning, Tax Issues, Uncategorized
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