Archive for the ‘Business Succession Planning’ Category

SHARES ISSUED FOR NOMIMAL CONSIDERATION: BE WARY OF VALUATION

Tuesday, June 28th, 2016

Recently, the Canada Revenue Agency (“CRA”) was asked to comment on the tax consequences that may result from implementing an estate planning or income splitting arrangement which involves the issuance of shares that entitled the holder to discretionary dividends, for nominal consideration. The CRA was presented with a hypothetical small business ...

ESTATE PLANNING REFRESHER: TRANSFER OF LIFE INSURANCE

Tuesday, May 31st, 2016

From time to time, we are asked about the tax consequences of transferring life insurance policies particularly in the context of some common (or not-so common) estate and trust planning scenarios involving transfers. As most people know, when a transfer of ownership of a life insurance policy occurs, the ...