Total 360 Posts
The Department of Finance released a Notice of Ways and Means which included amendments to the tax rules of interest to executors. On such amendment dealt with the security option benefit of the deceased.
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Stock options held at death Continue Reading »
Canada Revenue Agency, Estate Administration, Estate Planning, Executors, Tax IssuesBorrowing heavily from some recent literature on this subject, I though it may be useful at this time of the year to quickly revisit some of the rules surrounding tax free savings accounts (“TFSA”) Contribution room for an individual’s TFSA is the total of the TFSA dollar amount for the year, unused room from prior years and withdrawals from the TFSA in the prior year. Note a withdrawal is a….
TFSA’s – a refresher on the Rules Continue Reading »
Canada Revenue Agency, Estate Administration, Estate Planning, Interest, Investments, Property, Tax Issues, TrusteeThe Canada Revenue Agency (CRA) was asked if a distribution of certain property to beneficiaries is a taxable event, when an attribution rule (triggered by a beneficiary who contributed the property to the trust) ceases to exist?….
Trust distribution of Property Continue Reading »
Canada Revenue Agency, Estate Planning, Executors, Tax IssuesNo matter who wins the election, any changes to the U.S. Estate tax system won’t likely happen right away but one thing is certain, this election has being very taxing on everyone.
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Tomorrow is Election Day in the U.S. Continue Reading »
Estate Planning, In the News, Tax Issues, United States, US TaxesThe CRA was asked whether, in the case of the death of a spouse, the other spouse would have the right to split the eligible pension income that he or she receives in a taxation year with the deceased…..
Splitting Pension Income in Case of Death Continue Reading »
Canada Revenue Agency, Estate Planning, Executors, Spouse, Tax IssuesIn my last blog I began a discussion of multiple wills. I will continue that discussion in my next blog. For today’s blog, I will focus on two recently-announced tax measures that relate to planning for persons with disabilities. The measures were included in the legislative proposals relating to the Income Tax Act (“ITA”) released on September 16, 2016…..
NEW TAX MEASURES RELATED TO DISABILITY PLANNING Continue Reading »
Tax Issues