Loans

Total 17 Posts

Keeping it Equal – Navigating Loans and Gifts to Children

• • 3 Comments

Today’s blog was written by Courtney Lanthier, Law Clerk at Fasken LLP With prices of basically everything going up these days, it is becoming more difficult for the younger generations (myself included) to be able to afford most things, including those big ticket items like cars and homes. The sad reality is, while our parents may have been able to afford a home at 25, today that is not always….

Keeping it Equal – Navigating Loans and Gifts to Children Continue Reading »

Estate Planning, Loans, Wills

Shareholder Loan on Death

• • 0 Comments

There are several ways to extract funds from a business; salary, dividend, bonus or a shareholder loan. When a shareholder withdraws corporate funds by way of a shareholder loan, it will be recorded in the business financial statements and comes with tax implications to the shareholder.  This is because, a shareholder loan that is outstanding for more than one (1) tax year from the end of the tax year in….

Shareholder Loan on Death Continue Reading »

Estate Administration, Estate Planning, Executors, Loans, Tax Issues

Trust Lending to a Beneficiary

• • 0 Comments

There may be instances where a beneficiary has an immediate need to access funds held in trust yet, the terms of the trust prevent the trustees from proceeding with an income or capital distribution to such beneficiary. In such a situation, if the deed of trust grants the right to the trustees to make a loan, it may be appropriate for the trustees to consider lending an amount to the….

Trust Lending to a Beneficiary Continue Reading »

Loans, Trustee, Trusts

OAS Planning

• • 0 Comments

The Old Age Security (“OAS”) pension is a monthly payment you can get if you are 65 years of age or older. In many cases, Service Canada will automatically enroll you in the year prior to your 65th birthday. To the occasional surprise of some folks, the receipt of OAS is subject to a claw back if “adjusted” income exceeds a certain threshold ( approximately $78,800 for 2021 income year)….

OAS Planning Continue Reading »

Canada Revenue Agency, Estate Planning, Investments, Loans, Tax Issues, Trusts, Uncategorized

Low- Interest Environment: Time To Take Advantage Again.

• • 0 Comments

In past blogs, we discussed income splitting arrangements available to individuals who wish to loan funds to his/her lower income spouse or adult child, or in the case of minor children, a discretionary family trust. Such loans would be used to invest in income producing properties such as marketable securities, mutual funds, real estate income trusts (to name a few). The income from these properties less the interest paid on….

Low- Interest Environment: Time To Take Advantage Again. Continue Reading »

Business Succession Planning, Canada Revenue Agency, Estate Planning, Interest, Investments, Loans, Property, Real Estate, Small Business, Spouse, Tax Issues, Trusts, Uncategorized

Transferring Wealth During Your Lifetime

• • 0 Comments

I was reading recently that approximately $30-trillion in assets will be shifting from one generation to the next across North America in the next few decades, according to consulting firm Accenture. A couple of years ago, I wrote about gifting cash or assets during one’s lifetime as an alternative method of distributing your wealth and possibly avoid taxes at time of death. Though there is no inheritance tax in Canada….

Transferring Wealth During Your Lifetime Continue Reading »

Business Succession Planning, Estate Planning, Investments, Loans, Philanthropy/Charitable Giving, Probate Tax, Real Estate, Succession Planning, Tax Issues, Trusts, Uncategorized
Scroll to Top