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There has been considerable press coverage of the Canada Revenue Agency's new trust reporting requirements.

This client update is an attempt to summarize the more significant aspects of the rules.

The Canada Revenue Agency ("CRA") made headlines in March over its infamous handling of new compliance and reporting requirements for trusts. Bill C-32, which came into effect on December 15, 2022...

This discussion is a continuation of our earlier Tax Alert and will focus on selected traps that taxpayers should be aware of when undertaking tax planning involving trusts.

The federal government proposed new tax reporting rules for trusts in the 2018 budget, which have now come into effect for the 2021 and subsequent taxation years

The Ontario Superior Court of Justice recently granted rectification in a case in which the CRA and the taxpayer differed in their interpretation and effect of a particular document.

In the recent case of SEC v. Wyly (SDNY, no. 1:10-cv-05760, 2014 BL 267268), the US Securities and Exchange Commission (SEC) successfully obtained a disgorgement order against Samuel Wyly and the estate of Charles Wyly.

In our previous blog, "New Trust Reporting and Disclosure Rules," we wrote about the new Canadian trust reporting and disclosure rules which were originally to come into effect in 2021.

In Royal Trust Corporation of Canada v. The Welfare Institution of the Jews of Athens, 2022 BCSC 1454 (23 August 2022, Kent J.), the Supreme Court of British Columbia gave directions...

As part of the 2014 federal budget, the Canadian government enacted significant changes to the taxation of estates and trusts, which come into force on January 1, 2016.

Effective January 1, 2027, Manitoba is expanding its land transfer tax regime to apply to beneficial (unregistered) transfers of land, even where legal (registered) title is not being transferred. The amendments bring Manitoba’s regime more closely in line with Ontario’s and Quebec’s current regimes and will affect transactions involving bare trusts, nominees and other ownership structures that separate legal and beneficial ownership of land.

Pursuant to the Income Tax Act, an inter vivos trust is deemed to dispose of its capital property at fair market value on the 21st anniversary of its date of settlement.

The BC Supreme Court held that a gift subject to a condition that the donors could request a refund of their donation was still a gift inter vivos.

As of November 30, 2021, all pre-existing "Reporting Bodies" that hold an interest in land – including a registered lease with a term of over 10 years, and an option to purchase land – with the ...

What should a lawyer do with trust funds when his or her client is subject to a Mareva injunction?

It is finally here: after several years of consultations, punctuated with drafts from various eminent legal specialists and a preliminary draft from the Justice Ministry in February 2015, on 10 February 2016 the government published regulation no. 2016-131 aimed at reforming contract law.

On November 21, 2023, the Canadian Department of Finance ("Finance") released its 2023 Fall Economic Statement