Total 119 Posts
In Tibble v. Edison International , the beneficiaries of a pension plan sued the plan fiduciaries to recover damages for the alleged losses suffered by the plan from alleged breaches of the defendant’s fiduciary duties, namely, duties to invest prudently and loyalty…..
The Feeling Wasn’t Mutual – Tibble v. Edison International Continue Reading »
Estate Planning, Investments, TrusteeRecently, a fellow blogger wrote about the benefit of post-mortem pipeline transactions to avoid double tax on disposition of certain assets. Briefly, a pipeline transaction is a form of transaction whereby the assets of a corporation are distributed to shareholders utilizing the high adjusted cost base resulting from the capital gains realized on death, rather than as a distribution in the form of a dividend. In this sense, the use….
Post Mortem Pipeline Planning – Business Continuity Continue Reading »
Business Succession Planning, Canada Revenue Agency, Estate Administration, Estate Administration and Probate Applications, Estate Planning, Investments, Property, Real Estate, Succession Planning, 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, TrustsThe 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, TrustsIn my last blog, I wrote about the role of “beneficial” ownership in the determination of whether a property qualifies for the principal residence exemption. With an acknowledgment to Keith Masterman of “Advisor.ca”, I thought I would take the opportunity to write about some other “what if’s” and how the exemption may or may not apply. As an executor or trustee, you may encounter these scenarios and it might be….
Principal Residence Exemption and some of the “What if’s” Continue Reading »
Canada Revenue Agency, Cottage, Estate Administration, Estate Planning, Executors, Investments, Joint Tenancy, Property, Real Estate, Tax Issues, Trustee, TrustsThe Canada Revenue Agency (CRA) was asked whether income allocated by a US trust to a resident of Canada retains its nature as a dividend…..
Income allocated by a US trust Continue Reading »
Canada Revenue Agency, Estate Planning, Executors, Investments, Tax Issues