Archive for the ‘Business Succession Planning’ Category

VALUATIONS AND REVERSING TAX REASSESSMENTS: Lessons learnt

Monday, June 22nd, 2015

I have been writing about valuations for estate plan agreements, highlighting that they should be based on fair and reasonable methods, prepared in good faith, properly supported and documented at the time of valuation. This approach to valuations should also apply to other estate planning and charitable giving arrangements. Take donations ...

BITCOINS: does a digital currency create a foreign reporting requirement

Friday, May 15th, 2015

Sometimes you just never know what kind of assets or property you are going to find in an estate. In determining the nature and extent of the assets held by the estate, suppose you found a direct or indirect interest in a digital currency fund such as Bitcoins. The Canada Revenue ...

Redeemable Preference Shares: Accounting Proposal might complicate estate tax plans

Tuesday, December 2nd, 2014

Estate and succession planning arrangements often involve the creation of redeemable and retractable preference shares to “freeze” the value of a business to permit the transfer of the business’ future growth to designated successors. This is commonly found in estate planning arrangements for family owned businesses but it is also ...