Tax Issues

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Navigating Tax Dual-Residency: Treaty Tie-Breakers

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A sepia-toned scene photographed from above shows a magnifying glass, some photographs, a camera and lens, and an open notebook with a pencil laid across it. A pair of glasses lie in front of the notebook.

Written by Eric Hendry, Associate, Gowling WLG (Canada) LLP What happens when the domestic tax rules of two different countries look at the same person and both conclude that the individual is a tax resident? Navigating situations of “dual tax residency” is becoming increasingly common for estate planners and their clients. Whether for business, family, or lifestyle reasons, more and more Canadians seem to be putting down roots in more….

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Tax Issues

The “Surprise” Asset – What to Do When You Discover Estate Assets After Probate

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Even with careful record-gathering at the beginning of an estate administration, it is not uncommon for an estate trustee to later discover an additional asset. The estate trustee may think they have prepared a complete list of all the assets owned by the deceased as of the date of death. Then, after the Certificate of Appointment of Estate Trustee (probate grant) (the “Estate Certificate”) is issued, something else turns up…..

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Estate Administration, Estate Administration and Probate Applications, Executors, Probate Tax, Tax Issues, Trustee

New Form T1141 and T1142 Filing Requirements

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Today’s Blog was written by Rahul Sharma, Partner, Fasken LLP, Toronto About three years ago, at this time of year, I wrote about T1141s and T1142s: Don’t Forget the T1141s and T1142s! – All About Estates.  These forms have been updated for the 2025 and future taxation years.  Details of the new forms and requirements are provided on the government of Canada’s website: About Form T1141 – Canada.ca and About Form T1142….

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Canada Revenue Agency, Tax Issues, Trustee, Trusts

Estate Freeze & U.S. Citizens

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Scotiatrust

Before recommending an estate freeze to a client, advisors should first ask them a simple question: Are you a U.S. citizen? By failing to ask this question, advisors may be overlooking significant cross-border tax implications. While an estate freeze can be an effective tool for succession planning, it can come with a number of complex and sometimes punitive U.S. tax consequences when the freezor is a U.S. citizen. This article….

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Business Succession Planning, Estate Planning, Tax Issues, U.S. Citizen, United States, US Taxes

Gifting Farmland, an Estate Strategy?

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Gifting property to the next generation is an estate strategy at its simplest form. For farming families, farm succession planning can often be complex considering the difficulties associated with “equalizing” a farmer’s estate between their children in circumstances where a child is actively involved in the farming business while the other is not. An equalization option that is sometimes considered by the farmer is to sever the farmland with the….

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Farm, Property, Real Estate, Succession Planning, Tax Issues

Dual Citizens, U.S. and Tax

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Dual U.S.-Canadian citizens residing in Canada may want to pay particular attention to the Exclusive Citizenship Act of 2025 (the “Act”); a proposed bill establishing that “citizens of the United States shall owe sole and exclusive allegiance to the United States […]”.[1] Under the proposed bill, dual citizens have one (1) year from the date of the enactment of the Act to submit a written renunciation of their foreign (e.g…..

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Canadian and US Tax Treaty, Tax Issues, U.S. Citizen, United States, US Taxes
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