Estate Planning – Page 99 – All About Estates

Principal Residence Exemption and Trusts

Katie Ionson • November 25, 2016

In October, fellow blog-poster Corina Weigl wrote regarding the impact on individuals of recent changes to the rules surrounding the principal residence exemption. In addition to the changes impacting individuals, significant changes are proposed that will restrict the ability of trusts to claim the principal residence exemption residence for tax years after 2016. Currently, a personal trust is able to designate a property held in trust as a principal residence….

Principal Residence Exemption and Trusts Continue Reading »

Estate Planning

Turkey, Tradition and Dementia

Audrey Miller • November 24, 2016

Family dinners can be stressful at the best of times. Enjoying the holidays with a family member with dementia takes a little planning, tolerance and respect…..

Turkey, Tradition and Dementia Continue Reading »

Estate Planning

Stock options held at death

Derek de Gannes • November 22, 2016

The Department of Finance released a Notice of Ways and Means which included amendments to the tax rules of interest to executors. On such amendment dealt with the security option benefit of the deceased.
….

Stock options held at death Continue Reading »

Canada Revenue Agency, Estate Administration, Estate Planning, Executors, Tax Issues

TFSA’s – a refresher on the Rules

Steven Frye • November 15, 2016

Borrowing heavily from some recent literature on this subject, I though it may be useful at this time of the year to quickly revisit some of the rules surrounding tax free savings accounts (“TFSA”) Contribution room for an individual’s TFSA is the total of the TFSA dollar amount for the year, unused room from prior years and withdrawals from the TFSA in the prior year. Note a withdrawal is a….

TFSA’s – a refresher on the Rules Continue Reading »

Canada Revenue Agency, Estate Administration, Estate Planning, Interest, Investments, Property, Tax Issues, Trustee

Estate Donations & Non-Qualifying Securities

Malcolm Burrows • November 14, 2016

Since the announcement of the “estate donation” rules in the 2014 Federal Budget, there have been a number of amendments that have addressed sector concerns and drafting errors. One unintended consequence in the original estate donation provisions relates to gifts of private company shares. At the June 2015 STEP conference in Toronto, Canada Revenue Agency confirmed that all estate donations of private company shares to any registered charity would be….

Estate Donations & Non-Qualifying Securities Continue Reading »

Estate Planning, Philanthropy/Charitable Giving

Tax Deferral Opportunity for CCPC Business Sales is Closing Soon

Corina Weigl • November 11, 2016

The March 22, 2016 federal budget included a measure to merge the eligible capital property (“ECP”) tax regime under the Income Tax Act (“ITA”) with the ITA’s depreciable property rules. Eligible capital property includes goodwill and certain other intangibles that were not previously included as depreciable property. For the most part these changes are benign, including that the overall tax amortization/depreciation rate is similar, and these changes represent a degree of tax simplification. The budget measure applies after 2016…..

Tax Deferral Opportunity for CCPC Business Sales is Closing Soon Continue Reading »

Estate Planning