Uncategorized

Total 679 Posts

Cultural Property Donations Update

• • 1 Comment

[caption id="attachment_6826" align="aligncenter" width="650"] Iris bleus, jardin du Petit Gennevilliers, 1892, Gustave Caillebotte, Art Gallery of Ontario[/caption] The charitable tax incentives for donations of certified Cultural Property – art and artifacts – is the richest in Canada.  Cultural Property donations are exempt from capital gains tax and can be claimed against 100% of the donor’s net annual income over up to six years. The incentive is part of a complex….

Cultural Property Donations Update Continue Reading »

Estate Donations, Philanthropy/Charitable Giving, Uncategorized

FAMILY TRUSTS AND DISTRIBUTIONS OF CAPITAL GAINS

• • 0 Comments

Capital gain splitting on the sale of business interests, owned by family trusts with several beneficiaries, continues to be a valuable tool for tax planning purposes, including the opportunity under certain circumstances to access the super capital gains exemption more than once in such a transaction. However, the beneficiaries of a trust who are designated an allocation of proceeds from a share sale and stand to benefit from applying the….

FAMILY TRUSTS AND DISTRIBUTIONS OF CAPITAL GAINS Continue Reading »

Canada Revenue Agency, Small Business, Succession Planning, Tax Issues, Trusts, Uncategorized

Endowment Variations

• • 4 Comments

COVID-19 has hit the charitable sector hard, and arts organizations face particular challenges. A recent article in The Globe and Mail about the Banff Centre described closed facilities, lost fundraising, cancelled programs, layoffs, deficits, resignations, and protests. The article also mentioned a request to endowment donors for “permission” to use annual payout of “their” funds for operations, not the designated purpose. One donor, Myra Davis, refused. The money was for….

Endowment Variations Continue Reading »

Philanthropy/Charitable Giving, Powers Of Attorney and Guardianship Disputes, Uncategorized

Age 40 Trusts – Income-Splitting is Alive and Well!

• • 0 Comments

This Blog was written by Joanna Mazin, Estate and Trust Planning Lead at MD Financial Management Inc. which is part of Scotia Wealth Management In an age when it is becoming increasingly difficult to income-split, here is a planning strategy that could be available to high-income earners who are looking to provide tax-efficient financial support to a low-income child for private school tuition, post-secondary school fees, lessons, camps, or other expenses benefiting the….

Age 40 Trusts – Income-Splitting is Alive and Well! Continue Reading »

Uncategorized

New Year’s Resolutions: “creating yourself” and your estate plan in 2021

• • 2 Comments

This Blog was written by: Anne McFarlane, Estate and Trust Consultant, Scotia Wealth Management  I have always loved celebrating the New Year. On top of the fancy attire, sparkly decorations, and fizzy drinks, it’s a time of reflection and reinvention. To think back to what went well in the year prior and decide how our next rotation around the Sun will look. Given how 2020 treated us (don’t worry –….

New Year’s Resolutions: “creating yourself” and your estate plan in 2021 Continue Reading »

Uncategorized

When Are You Married?

• • 0 Comments

Most know that you don’t have to be legally married to have a “spouse” for income tax purposes, although legal marriage will work. If you have been living with someone in a conjugal relationship for 12 months or more regardless of your sex at birth, you will be considered spouses for tax purposes. You can ignore the 12 month requirement if you are living together and you are both parents….

When Are You Married? Continue Reading »

Contested wills, Courts, Estate Administration, Estate Litigation, Estate Planning, Family Conflict, Spouse, Testamentary Capacity, Uncategorized, Wills
Scroll to Top