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For several decades, corporations have been subject to the Income Tax Act’s "loss streaming" rules.

In 1996, Mr. Herjavec set up a family trust, and settled $100 into the trust. The next year, he transferred 75% of his shares in his growing company, Brak Enterprises ("Brak"), into the trust.

La 2e édition de l'ouvrage Canadian Taxation of Trusts est une ressource essentielle pour les professionnels du droit et de la fiscalité qui évoluent dans le contexte...

Generally, Canadian resident can only get tax credit for individual or income deduction for corporation on donation to Canadian registered charity

Currently trusts are required to file an annual income tax (T3) return if a trust has tax payable or if it distributes all or part of its income or capital to its beneficiaries

2014 saw a number of significant developments in Canadian securities law, including the adoption of the new disclosure requirements addressing gender diversity on boards and senior management positions, adoption of new capital-raising prospectus exemption, proposed amendments to the take-over bid regime, and proposed amendments to the early warning regime.

The federal measures in question are part of a package of trust reporting changes.

This new reporting and compliance requirement for trusts will pose a heavy burden on trustees, and in the case of non-resident trusts, may lead to non-compliance due to lack of awareness...

As part of seeking to prevent inappropriate tax avoidance using trusts, the Federal Department of Finance recently introduced new trust reporting rules that will apply beginning at the end of 2023.

The Canada Revenue Agency (CRA) has recently provided updated guidance to Canadian charities seeking clarity on maintaining compliance with the Canadian Income Tax Act ("ITA")...

There are new reporting requirements for trusts requiring most trusts to file a T3 return, regardless of income or activity levels (with some exceptions, see below).

The 2014 Federal budget proposes a number of changes to the taxation of testamentary trusts (trusts created upon the death of an individual pursuant to a Will).

The CRA has introduced new trust reporting requirements that apply to all express trusts (with a few exceptions) with taxation years ending after December 30, 2023.

The STEP (Society of Trust and Estate Practitioners) Global Congress held in Vancouver in September

The Ontario Court of Appeal decision in Foley v. McIntyre is an interesting and helpful discussion of the presumption of resulting trust in the context of joint accounts held between parents and their adult children.

While discretionary family trusts have come to be associated only with the very wealthy, they can be a useful estate and tax planning tool for every family.

In our previous article, we have touched on the basics of setting up an estate plan. Apart from making a Will, you can also consider setting up your Trusts as part of your estate plan.