Tax Issues

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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

A Pragmatic and Positive Approach Towards International Migration

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Today’s Blog was written by Rahul Sharma, Partner, Fasken LLP, Toronto This is a short blog post written on a cold morning in Toronto.  It is currently -12 degrees in Toronto (with a windchill factor of -21 degrees).  It is presently sunny and 26 degrees in the Cayman Islands.  On days like these, migration weighs heavily on some minds. I would like to thank Meera Raman of the Globe and….

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Tax Issues, US Taxes

Love, Marriage and U.S. Tax…

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Love knows no boundaries and neither do the U.S. tax rules. Marrying a U.S. citizen will result in U.S. tax implications for the couple that should not be ignored. This article will review a few U.S. tax considerations for married couples (that include a U.S. citizen). Proper Tax Filing Contrary to Canada, the U.S. tax filing requires an individual taxpayer to file their tax return as “single” or “married filing….

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Succession Planning, Tax Issues, U.S. Citizen, US Taxes

Transferring the Family Home to the Next Generation

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Scotiatrust

This blog post was written by: Rebecca Tong, Senior Manager, Scotiatrust Tax Services, Vancouver Ever thought about gifting a property to your children? As most parents would think – yes why not and what is the big deal?  I recently had this very discussion with my own aging parents,  and this resulted in some important discussions about our family home, their goals and consideration for the tax outcomes of any….

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Estate Planning, Real Estate, Tax Issues

RRSPs Aren’t the Villain – But Misunderstanding Them Is

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Scotiatrust

This blog post was written by: Melissa Plunkett, Director, Scotiatrust On Friday, September 26, 2025, when CTV news published their story “Daughter hit with $660,000 tax bill when both parents died in the same year”, I was inundated with texts and DMs from friends and family asking me if this could really happen to a middle-class family.   Did the CRA assess too much tax?  Was an RRSP really all taxable at….

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Estate Planning, Tax Issues
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