Tax Issues

Total 358 Posts

DYING INTESTATE AND TAX FILINGS

•

If you have been a regular reader of our blogs, then I am hoping you have learnt more than a few things about estates and trusts. At the very least, I expect that you now have a will if you didn’t before with executor(s) appointed and beneficiary (ies) designated and so on. What if someone you know or know of dies intestate i.e. without a will and you are asked….

DYING INTESTATE AND TAX FILINGS Continue Reading »

Canada Revenue Agency, Estate Administration, Estate Administration and Probate Applications, Estate Planning, Executors, Tax Issues, Trustee, Wills

Charitable Donations by Graduated Rate Estates – Substituted Property

•

The new Canadian tax rules concerning charitable donations of graduated rate estates restrict those donations to gifts of properties acquired by an estate as a result of the death of an individual or of properties substituted for those properties.
….

Charitable Donations by Graduated Rate Estates – Substituted Property Continue Reading »

Canada Revenue Agency, Charitable Giving, Estate Planning, Executors, Property, Tax Issues, Wills

CAN AN EDUCATIONAL ASSISTANCE PAYMENT BE MADE TO A DECEASED PERSON USING THE SIX MONTH Extension PROVISION CONTAINED IN THE INCOME TAX ACT

•

Recently, The Canada Revenue Agency (“CRA”) was whether the six month extension for making educational assistance payments (“EAPs”) out of a registered education savings plan (“RESP”) under the appropriate subsection of the Income Tax Act (the “Act”) can apply when the beneficiary under the plan is deceased. The Act stipulates that one of the conditions for the registration of an RESP is that EAPs can only be paid to or….

CAN AN EDUCATIONAL ASSISTANCE PAYMENT BE MADE TO A DECEASED PERSON USING THE SIX MONTH Extension PROVISION CONTAINED IN THE INCOME TAX ACT Continue Reading »

Canada Revenue Agency, Estate Administration, Estate Administration and Probate Applications, Estate Planning, Investments, RESP, Tax Issues, Trusts

INCOME DISTRIBUTIONS AND CHARITABLE GIVING AND THE NEW PERSONAL TAX RATES

•

If you are like most individuals at this time of the year, you probably don’t give too much thought to your taxes and perhaps putting it off until the filing deadline for tax returns approaches being in the spring of each year for most. For those who are beneficiaries of a trust for instance and expect to receive income distributions, or in a separate context, those who are developing a….

INCOME DISTRIBUTIONS AND CHARITABLE GIVING AND THE NEW PERSONAL TAX RATES Continue Reading »

Charitable Giving, Estate Administration, Estate Planning, Executors, Investments, Property, Succession Planning, Tax Issues, Trustee Compensation

More on Graduated Rate Estates

•

At a recent conference of the Society of Trust and Estate Practitioners, the Canada Revenue Agency (“CRA”) was asked to respond to certain questions regarding Graduated Rate Estates (GRE’s), in particular around the actual definition of a GRE and its application to a situation where the deceased has more than one will. Definition of a GRE The CRA was asked that while an estate is under administration during its first….

More on Graduated Rate Estates Continue Reading »

Business Succession Planning, Canada Revenue Agency, Canadian and US Tax Treaty, Estate Administration, Estate Administration and Probate Applications, Estate Planning, Executors, In the News, Probate Tax, Succession Planning, Tax Issues, Trustee, Trusts, Wills
Scroll to Top