Total 280 Posts
The Canada Revenue Agency made several interesting yet not surprising comments on corrective payments received by an estate.
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Clearance certificates Continue Reading »
Canada Revenue Agency, Estate Planning, Executors, Tax IssuesAs I mentioned in a previous blog, the capital dividend account (“CDA”) is often a central feature of tax planning for individuals with private corporations with the opportunity to make tax-free distributions to shareholders on the disposition of certain capital assets. It gains particular focus in estate planning scenarios and eventually in estate and trust administration. As I also mentioned, the management of the CDA is a tricky proposition with….
CAPITAL DIVIDEND ACCOUNT ELECTIONS AND THE DATE GONE WRONG? Continue Reading »
Canada Revenue Agency, Estate Administration, Estate Planning, Investments, Liability, Property, Small Business, Succession Planning, Tax Issues, TrustsIf someone has a second will pertaining to foreign assets, and the domestic executors either do not know about this second will, or cannot deal with the foreign executors on a timely basis, would the status of the estate as a graduated rate estate (GRE) be invalidated if only the domestic executors elected for the estate to be a GRE?
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More on Graduated Rate Estates Continue Reading »
Canada Revenue Agency, Estate Planning, Executors, WillsThe Canada Revenue Agency (CRA) was asked in a technical interpretation if a reversionary trust that holds non-income producing property required to file a T3 Return.
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Filing obligation for 75(2) trust Continue Reading »
Canada Revenue Agency, Estate Planning, Tax Issues, TrusteeThe capital dividend account (“CDA”) is a tax free surplus account within a private corporation which gives shareholders designated capital dividends, tax-free. The CDA typically contains the non-taxable portion of the company’s capital gains net of capital losses, capital gains received by other companies, proceeds of life insurance on death and other capital like distributions. The CDA account is often a central feature of tax planning for individuals with private….
Determining the CAPITAL DIVIDEND ACCOUNT BALANCE: no longer a shot in the dark? Continue Reading »
Business Succession Planning, Canada Revenue Agency, Estate Administration, Estate Administration and Probate Applications, Estate Litigation, Estate Planning, In the News, Investments, Small Business, Succession Planning, Tax Issues, TrustsWhere a will is drafted to create a testamentary spousal trust and the will provides that the final distribution date of the trust is three years after the death of the surviving spouse, would the trust be precluded from being a spousal trust.
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Delay in final distribution from spousal trust Continue Reading »
Canada Revenue Agency, Estate Administration, Estate Planning, Executors, Tax Issues, Wills