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Total 679 Posts

Income Splitting Loans and what you should know (and do) prior to April 1, 2018

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Under the Income Tax Act R.S.C., 1985, c. 1 (5th Supp.), there are certain income-splitting arrangements that are available when a loan is made from an individual to his/her lower income spouse/common-law partner and when a loan is made to a discretionary family trust, the beneficiaries of which include minor children. For example, an individual may loan funds to his/her lower income spouse to make an investment.  In order for attribution,….

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Consent to Medical Assistance in Dying vs. Withdrawal of Life-Sustaining Treatment

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The cases before the court of Shalom Ouanounou and Taquisha McKitty[i] focus on the declaration of brain death and the withdrawal of life-sustaining treatment without consent. I will not address the issue of declaration of brain death as that lies outside my scope of practice, but rather will comment on consent issues as they relate to end-of-life decision-making. The law makes clear that consent is a sufficient condition for the….

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Ready to Rumble: Law of Trusts vs. Law of Contracts

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This Blog was written by : Peter Meitanis   In a battle that dates back to the Medieval Ages, two bitter rivals are back at it again. The location of the latest bout is British Columbia’s Court of Appeal. Get your popcorn ready folks. Trust law is out for blood, citing the duty to account and the rule in Saunders v. Vautier. The Law of Contracts has some heavy hitters….

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Contracts, In the News, Uncategorized

The Utility (or lack thereof) of Extrinsic Evidence When Interpreting a Will

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This blog is written by Ronald Neal, student-at-law. Can one rely on extrinsic evidence (i.e. evidence that relates to a will but is not contained in it) to establish the intentions of a testator? This was a question recently considered by the Ontario Superior Court of Justice in Campbell v. Evert [1]. Background Dr. Ewert had two children, Monica and Peter. Dr. Ewert passed away on February 7, 2011. In 1990, Dr…..

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Estate Litigation, Uncategorized

Know Your Client

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This Blog was written by: Liz Bozek Most countries, including Canada, have anti-money laundering (AML) policies, and many require that all financial institutions strictly abide by those policies to support efforts against financial crime. At the heart of these compliance measures is the ever-increasing need that institutions and professionals know exactly who their clients are and where their money comes from. “Know your client”, or KYC as it is commonly….

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Practice Management, Uncategorized

SHAREHOLDER REMUNERATION PLANNING

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Business owners-managers put money in and take money out on a regular basis during the year, and at the same time often use the business bank account for what may appear to be personal expenditures. This often leads to shareholder advance balances at year end and some major bookkeeping challenges to boot. These balances are often part of the consideration to determine shareholder bonuses and dividends at year-end, the characterization….

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Canada Revenue Agency, Canadian and US Tax Treaty, Estate Planning, Investments, IRS, Small Business, Tax Issues, Uncategorized
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