Total 686 Posts
This blog was written by Teresa Acs – Director, Professional Development & Process Excellence With Thanksgiving right around the corner, which nicely slides into the season of gift giving, I thought I would selfishly use this Blog to thank my colleagues. I got this idea at my local Starbucks (thank you awesome Scotia Plaza Starbucks team), where they invite patrons to jot down what they are thankful for. They even….
In Yellow Point Lodge Ltd. v, The Queen DTC 1130, the Company owned certain lands on Vancouver Island, mostly undeveloped and in its natural state. In June 2008, the Company granted a covenant and other specified legal interests with respect to a parcel of ecologically-sensitive land, to two organizations, with estimated fair market value in excess of $5 million. Initially, the Company did not claim a deduction in respect of….
Today’s blog was written by Demetre Vasilounis, Associate at Fasken LLP. One of the most important things that estate lawyers aim for when drafting a will for their client is to avoid an outcome that is contrary to their client’s testamentary intent. There are many instances where a will is not clear about what will happen when a specific event or sequence of events occurs, and in such instances a….
Anti-Lapse Provisions May Also Be Anti-Intent Continue Reading »
UncategorizedThis blog was written by Isabelle Cadotte – Estate and Trust Consultant with Scotia Wealth Management Beneficiary designations on registered accounts and pension plans (RRSPs, RRIFs, TFSAs, etc.) and life insurance policies are a double-edged sword when it comes to estate planning. They are simple to implement – a designation can be made by Will or with a form supplied by the financial institution or insurance company. They also offer….
Avoiding Common Pitfalls with Beneficiary Designations Continue Reading »
Estate Planning, Uncategorized
Today is the first day of the Jewish New Year, another fresh start for those who celebrate. For many who may not attend synagogue, it may still be recognized and celebrated with family sitting down together for a festive dinner. Traditions continue and are past down from generation to generation. For some it is a favorite recipe that has been shared. For those with dementia, familiar food, song and stories….
Another New Year. Another New Start Continue Reading »
UncategorizedIn Neszt v. The Queen 2019 DTC 1105, the taxpayer held two life insurance policies with a life insurance company. He subsequently took personal loans against his life insurance policies. The amount of each such loan was greater than the adjusted cost base of each policy, (being the sum of premiums paid by the insured minus dividends declared and cost of insurance.) The life insurance company issued two T5 slips….
Inclusion of Life Insurance loan in Income Continue Reading »
Canada Revenue Agency, Insurance, Loans, Tax Issues, Uncategorized