487 results found

In the June 2020 case of Bergler v. Odenthal, 2020 BCCA 175 [Bergler], the British Columbia Court of Appeal found that deathbed wishes created a "secret trust", ...

Bare trusts are a commonly used legal arrangement wherein the trustee holds legal ownership of assets on behalf of beneficiaries without actively managing or retaining control over those assets.

Budget 2023 proposes the first major changes to the Alternative Minimum Tax (the "AMT") since its introduction in 1986 with the stated goal of "ensuring the wealthiest Canadians pay their fair share."

In CRA Technical Interpretation 2016-0647621E5, June 3, 2016, "Part IV Income Tax - Dividend Paid to a Corporate Trust Beneficiary", the CRA held that Part IV tax would apply on an allocation of dividends...

Effective January 1, 2017, the kinds of trusts that can claim the Principal Residence Exemption (PRE) will be limited.

A Panama-based trust with a Quebec contributor faced federal surtax and denied provincial abatement despite paying Quebec tax, creating a situation where it was taxed as residing nowhere in Canada. The Tax Court dismissed the appeal, calling the outcome unfair but mechanically required by statute, illustrating how some tax disputes are predetermined by clear statutory language regardless of perceived unfairness.

In our previous blog post,[1] we discussed the Canada Revenue Agency's (the "CRA") expanded trust filing and reporting requirements...

Succession planning is not a one-and-done conversation for business owners. Much like the work of building the actual business, it is an ongoing, sometimes shifting, process.

This article provides an introduction to the Foreign Account Tax Compliance Act for Canadians and analyzes Canada’s implementing legislation regarding FATCA.

In the 2018 Federal Budget released by the Canadian Department of Finance of February 27, 2018, new trust reporting requirements are designed to provide the CRA more information...

In our previous blog, "Getting Ready for the New Trust Reporting and Disclosure Rules", we wrote about the new Canadian trust reporting and disclosure rules coming into effect in 2021.

A new T3 Trust Income Tax and Information Return ("T3") was released by the Canada Revenue Agency (CRA) in December 2023. The updated T3 reflects the expanded...

When you hear the phrase "discretionary family trusts," you'll probably first think of trust fund babies, offshore accounts ...

​The rule in "Re Hastings-Bass", [1975] Ch. 25 (CA), has been understood to permit the court to declare void and set aside the exercise of a discretionary power under a trust.

The right for a beneficiary to disclaim their interest under an estate is well-established in Ontario, traceable back to the original English courts of chancery...

Some clients believe they'll earn lower investment returns if they use trusts in their estate planning, because trustees have restricted investment decision-making powers under trust law.

Let's face it, making an estate plan is probably not the activity on the top of your to-do list. Most Canadians do not have a valid will.