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Based on a host of recently enacted legislation attacking the use of offshore trusts by Canadians, eliminating immigration trusts, severely restricting testamentary trust tax benefits, generally attempting to eliminate inter-provincial testamentary tax planning opportunities, and so on, it seems safe to say that the federal government views the use of trusts in Canada dimly these days.

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:

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

Planning For Trusts Faced With The 21‐Year Deemed Disposition Rule

Should the reasonable expectations of litigants determine the availability of a proprietary remedy where one party has been unjustly enriched by the other?

The Ontario Superior Court's decision in Laberge Gareau v. Laberge Gareau, 2026 ONSC 4669 is a cautionary tale about family farms, informal succession planning, and the legal consequences of putting property in a child's name without fully understanding the legal effect.

This article is the third instalment in a four-part series. The fourth and final instalment will appear in next month's issue of Tax Notes.

This Advisory provides an overview of the legal concept of a trust, including its role in family wealth preservation and management.

The Supreme Court of Canada's recent decision in Canada v. Canada North Group Inc.[1] provided much needed clarity regarding the order of priority for unremitted source deductions in restructuring proceedings.

Canadian income tax law does not prohibit Canadian residents from using offshore entities or structures. What it does prohibit—explicitly and deliberately—is the deferral of Canadian tax on passive or investment income through foreign intermediaries.

A majority of small business owners plan to exit their business over the next decade. For many business owners there may not be a family successor ready and willing to take on the business.

The second instalment of the Series will begin the arduous task of providing a high-level review of the Section 94 NRT Rules, including providing some context as to just how expansive these rules are.

Loss carryforwards and other tax attributes, such as scientific research and experimental development ("SR & ED") expenditures, investment tax credits ("ITCs"), resource pools, are valuable assets because they can shelter taxes.

A trust is a legal relationship that is created where property is entrusted to a person to hold or manage the property for the benefit of another.

This article is the third instalment in a four-part series. The fourth and final instalment will appear in next month's issue of Tax Notes.

Between January 1, 2024 and December 31, 2026, business owners can access significant tax benefits when selling a qualifying business to an employee ownership trust ("EOT") pursuant to a transaction that constitutes a qualifying business transfer. Among other benefits, eligible vendors are entitled to receive a shared pool of up to $10 million in capital gains deductions (the "EOT Deduction").

When a family member or friend dies, estate beneficiaries place their trust in the executor to properly administer the estate. But what legal recourse exists when that trust is broken through misconduct, delay, or conflict of interest? Ontario courts have established clear principles for when and how an executor can be removed, though the bar remains intentionally high.

New trust disclosure rules originally announced on February 27, 2018, are now in force, and trusts with taxation years ending on or after December 31, 2023...