Practice Management

Total 23 Posts

Look Out: The New Trust Reporting Rules Are Almost Here

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As we head in to the Fall of 2020, we are quickly approaching the new trust reporting requirements. The new trust reporting rules come into effect with taxation years ending after Dec. 30, 2021.As a reminder to administrators, if a trust continues to be in place past Dec. 31, 2020, the trust will need to comply with the new reporting rules and the trust administrators must provide the following additional….

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Canada Revenue Agency, Estate Administration, Executors, In the News, Practice Management, Tax Issues, Trustee, Trusts, Uncategorized

Thoughts on Litigating in a Pandemic

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We are now several weeks into self-isolation, physical distancing, and working from home. Litigating is certainly not top of mind for most people. Moreover, the courts are operating under a limited schedule and will continue restricting the number of matters moving forward well into the summer (jury trials, for example, won’t begin until September 2020 and certain matters will be given priority over others). Many private mediations have been postponed….

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Estate Litigation, In the News, Practice Management

The New Simplified Procedure Rule (Rule 76)

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Since it was enacted in 1996, Rule 76 of the Ontario Rules of Civil Procedure has provided for a simplified procedure to streamline claims of relatively modest monetary value. The goal remains to reduce legal costs and speed up the administration of justice. The Government of Ontario made significant changes to the simplified procedure rule effective January 1, 2020 in an effort to increase claims proceeding under Rule 76. These….

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Estate Litigation, In the News, Practice Management

When is a Dividend Not a Dividend?

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In Trower v. the Queen, 2019 TCC 77, the Company was privately held by the taxpayer and her spouse (49% and 51% respectively) until the taxpayer ceased to be shareholder in the Fall of 2016, pursuant to a separation agreement between the spouses. The company prepared and filed a T5 tax slip to document that dividends were paid in 2016 to the taxpayer prior to her ceasing to be a….

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Canada Revenue Agency, Contracts, Estate Administration, Practice Management, Separation, Small Business, Spouse, Tax Issues, Uncategorized

The STEP Annual Conference

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This blog was written by Teresa Acs – Director, Professional Development & Process Excellence I had the pleasure of participating at last week’s Society of Estate and Trust Practitioners (STEP) Canada Conference. Each year, the conference attendance surpasses the year before, speaking to both the quality and importance of this event. The STEP conference attracts those practicing in the estate and trust field; lawyers, accountants, service providers and Trust Companies. ….

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Estate Administration, Interest, Practice Management, Succession Planning, Uncategorized
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