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Over the last decade, Canadian tax and private client practitioners have faced an ever-increasing amount of international and cross-border inquiries.

Earlier this year, new enhanced reporting obligations for many express trusts (that is, defined to include intentionally created trusts, as well as bare trust arrangements) for taxation years ending on or after Dec. 31.

The Canada Revenue Agency continues to bolster reporting requirements for foreign assets or offshore income and the penalties associated with failure to file tax returns or information returns can be onerous.

In this Advisory, we present an overview of the principles of trustee investment under Ontario's governing legislation, the Trustee Act.

We have previously written about the new trust reporting requirements with a focus on how they may affect charities in the Social Impact newsletter...

On July 27, 2018, the Department of Finance released draft legislation for new trust reporting requirements commencing in 2021, and following an announcement in the 2018 Federal Budget.

Owners of units in a REIT or income trust, if they think about it all, think of themselves as being like shareholders of a public corporation.

This article describes more specialized tax-attribution rules in the Canadian tax system—specifically, those applying to diverted payments, income-splitting with minors, holding corporations, and revocable trusts.

Canadian insolvency law currently offers little protection to perishable fruits and vegetable suppliers (Produce Supplier) in the event of an insolvency or bankruptcy of a purchaser...

On May 16, 2019, the Land Owner Transparency Act (LOTA), one of the B.C. government's signature pieces of legislation to address hidden ownership of real estate in B.C., became law.

In Budget 2017, the federal Government announced its intention to modernize the rules relating to the taxation of segregated funds by permitting such funds to (i) apply non-capital losses to reduce income earned in other years, and (ii) effect mergers on a tax-deferred basis.

Canada's latest federal budget was released on March 28, 2023 (the "Budget"). The McLennan Ross tax team is publishing a 3-part series to highlight conditions of the budget most likely to impact our clients.

The Québec Government has published a new webpage (available in French only) with further details on the implementation of Bill 78, An Act mainly to improve the transparency of enterprises,...

Part 1 of this Series reviewed what the 21-year deemed disposition rules are and introduced three approaches to planning that appear to be most commonly used to manage the effects of the 21-year deemed disposition rules...

This Advisory presents an overview of uses of alter ego trusts and joint partner trusts as substitutes for wills and powers of attorney in estate planning for those age 65 or older.

Federal budget released in February 27, 2018

As we summarized in a recent Financial Services & Insolvency Communiqué, Saskatchewan has introduced Bill 151 (the Bill) which amends The Personal Property Security Act, 1993 ...

The 2024 alternative minimum tax reforms have transformed AMT from a niche concern into a critical planning consideration for wealth management strategies. With expanded tax bases, higher rates, and limited deductions for investment expenses, transactions involving capital gains, leveraged investments, and family trusts now warrant careful AMT analysis to avoid unexpected permanent tax costs.