Estate Planning

Total 1082 Posts

A Wealth of Information for Trust & Estate Professionals

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Today’s blog was written by Elaine Blades, TEP Last week I had the pleasure of attending/presenting at STEP Canada’s 18th National Conference.  I was joined by over 700 trust and estate professionals from across Canada. STEP members come from a variety of professional backgrounds:  law, accounting, insurance, trust industry and financial planning.  The common denominator is expertise, work and ongoing education in the trusts and estates “profession”. The diversity of….

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Estate Planning

INCOME FROM A U.S. TRUST: CAN IT EVER BE TREATED AS DIVIDEND INCOME?

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Sometime ago, a relative of a Canadian taxpayer died in the US and she left her money in a charitable trust, with some of the income bequeathed to the Canadian taxpayer annually. The trust income is derived mostly from US dividends. With a series of proposed adjustments to her personal tax returns, the taxpayer asked the Canada Revenue agency (“CRA”) why this income could not be treated as dividend income….

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Canada Revenue Agency, Canadian and US Tax Treaty, Estate Administration, Estate Planning, Interest, Investments, Tax Issues, Trusts, United States, US Taxes

QUALIFYING SPOUSAL TRUSTS – A CAUTION REGARDING PAYMENT OF LIFE INSURANCE PREMIUMS

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On death you might say that Canada is a tax haven. Unlike our neighbours south of the 49th parallel, we are not subject to an estate or inheritance tax on death. We are, however, subject to an income tax which while still a tax, is generally less than an estate or inheritance tax…..

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Estate Planning

Principal Residence – Duplex or Intergenerational House

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The Canada Revenue Agency (CRA) was asked if a duplex occupied by a taxpayer and her aging parent could be treated as the daughter’s taxpayer “principal residence” for the purpose of claiming the principal residence exemption from the capital realized on the sale of the duplex at a later date.
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Canada Revenue Agency, Dependant Support, Disability, Elder Care, Estate Planning, Joint Tenancy, Property, Real Estate, Tax Issues
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