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Journalism and Charities

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The interconnectedness of registered charities and journalism is growing.  In this era of digital content explosion and “fake news”, traditional media outlets — especially newspapers — are seeking new ways to serve their communities and survive.  Increasingly, public benefit non-profit journalism is becoming a charitable activity.  There are estate donors who are interested in supporting this space. In the U.S. non-profit, investigative journalism is well established.  In-depth articles funded by….

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Philanthropy/Charitable Giving, Uncategorized

The Application for the Disability Tax Credit to be Reviewed: Hallelujah!

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As most of you know, the Disability Tax Credit is a credit to income tax otherwise payable, available for those with a severe or prolonged impairment. It is meant to provide some relief from the additional costs and expenses incurred associated with the impairment. It is also referred to by many as a gatekeeper credit because it is a cornerstone to such programs such as registered disability plans, the working….

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Canada Revenue Agency, Dependant Support, Disability, Elder Care, Geriatric Care Management, In the News, Tax Issues, Uncategorized

What’s more American than a Norman Rockwell painting – perhaps a Court hearing?

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In my Blog last week I talked about how much I like some of the American traditions like Thanksgiving. What could be more American than a beloved Norman Rockwell painting. Earlier this month the Massachusetts Court of Appeal blocked the auction of 2 Norman Rockwell paintings, which had a combined value of over $25mil. The plaintiffs included Rockwell’s sons as well as the office of the Massachusett’s attorney general. The….

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In the News, Philanthropy/Charitable Giving, Uncategorized, Wills

Some American Thanksgivng Day Advice

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I love the traditions of the American Thanksgiving Day holiday – spending time with family and friends, enjoying a great food and watching football. In the lead-up to Thanksgiving, the American papers are filled with all kinds of tips on how to prepare for and enjoy the big day. Whether folks are battling chaos at the airport trying to get home or struggling to defrost a turkey in record time,….

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Estate Planning, Family Conflict, Uncategorized

Estate and Trusts with Foreign Properties and/or Transactions: Update on Reporting Implications

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Sometime ago, I wrote that the Income Tax Act requires persons and partnerships to file information returns in respect of foreign property ownership (specified foreign property in excess $100,000) and transactions with non-residents . This extends to trusts and estates. Those who file such a return late or do not file one on demand are liable to a penalty or penalties. Generally speaking, a penalty starts at a minimum of….

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Canada Revenue Agency, Estate Administration, Executors, In the News, International, Investments, Property, Real Estate, Tax Issues, Trustee, Trusts, Uncategorized, United States

Another Sibling Rivalry Gone Awry

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In my last few blogs I’ve focused my comments on succession planning topics for business owners. I’d like to continue with that theme by reminding business owners and their advisors about the need to ensure contractual arrangements that are intended to attach to property, are addressed and worked into the business owner’s Will plan.  I recently had the need to consider certain provisions in a shareholders’ agreement that prohibited the….

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