Trusts

Total 213 Posts

As You’re ‘Checking Your List’, Don’t Forget Your Year End Tax Planning

• • 0 Comments

As the holidays approach, so too does December 31st or the end of a calendar year.  This date can mean different things to different people.  For those in the business of estate and tax planning, the spectre of December 31st often leads to calls from clients who are looking to: complete a project they had on their “to do” list for the calendar year, start a project but have it….

As You’re ‘Checking Your List’, Don’t Forget Your Year End Tax Planning Continue Reading »

Estate Planning, Tax Issues, Trusts

Reversionary trusts – an interesting technicality

• • 0 Comments

Co-author: Rock Lapalme, CPA, CA, TEP (Associate Director of Tax – Baker Tilly Canada) Most practitioners are aware that subsection 75(2) of the Income Tax Act (ITA) may apply to a trust and will attribute all income or loss from a trust’s property back to the person (transferor) from whom the property (or substituted property) was directly or indirectly received if the property may revert to the transferor[i]. In addition….

Reversionary trusts – an interesting technicality Continue Reading »

Tax Issues, Trusts

It’s the Most …… Time of the Year!

• • 0 Comments

Hectic, chaotic, busy, stressful, demanding are all words that can easily be a substitute for “wonderful” when thinking about our practice at this time of the year. With in-person holiday events and functions slowly starting to return to some sort of normalcy after a quiet few years, the added demands for our time have increased this year over last. For those who typically do not deal with the December “crunch”,….

It’s the Most …… Time of the Year! Continue Reading »

Trustee, Trusts

Considerations When Trustees are Involved in Transactions

• • 1 Comment

Approaching year end, you increasingly may be fielding calls from corporate lawyer peers who are closing transactions in which trusts are involved. For example, trusts may be direct vendors or sellers, or, perhaps HoldCos are the sellers, but one or more trusts own the shares of the HoldCos.  This blog will explore some (but not all) considerations that are relevant when trusts are involved in a transaction. High Level Considerations….

Considerations When Trustees are Involved in Transactions Continue Reading »

Estate Planning, Trustee, Trusts

Beneficial ownership reporting for trusts – the uncertainty is almost here!

• • 0 Comments

The beneficial ownership reporting for trusts (BORT) rules, originally announced in the 2018 Federal Budget on February 27, 2018, has made its way into the House of Commons. The original draft legislation released by Department of Finance on July 27, 2018 was updated on February 4th and on August 9th of 2022. This final update of the BORT draft legislation is now included in the 172 pages of Bill C-32[1]….

Beneficial ownership reporting for trusts – the uncertainty is almost here! Continue Reading »

Canada Revenue Agency, Estate Administration, Tax Issues, Trusts

The Incapable Foreign Beneficiary

• • 0 Comments

If you’re a frequent reader of this blog, then by now it you should know that acting as a trustee comes with a minefield of obligations and duties. Sorry folks, but I’m adding one more to the pile. The Case In Galea v. Tybel et al., a trustee of a trust located in Ontario sought to wind up the trust and distribute the funds, held for the benefit of a….

The Incapable Foreign Beneficiary Continue Reading »

Guardianship, Trustee, Trusts, Uncategorized
Scroll to Top