Archive for the ‘Estate Administration’ Category

Having The Last Word

Wednesday, July 30th, 2014

The Globe and Mail’s 'Public Editor’, Ms. Sylvia Stead, wrote a piece in the July 26, 2014 Saturday paper called ‘When capturing a life in a few hundred words, try to avoid mistakes’. Good advice. I have been reading obits for the last few decades and I would say they ...

Trust Income and Working Income Tax Benefit Eligibility

Thursday, July 24th, 2014

Recently the Canada Revenue Agency (“CRA”) was asked whether income allocated by a communal organization and reported as self employment earnings for CPP eligibility on a trust income tax slip (T3 slip) is considered “working” income for the recipient to claim the Working Income Tax Benefit (“WITB”). CRA responded that the ...

Shedding the Tax Light on a Blind Trust

Wednesday, July 16th, 2014

A blind trust is a trust in which a settlor (who would also be the contingent beneficiary) reserves the right to terminate the trust but agrees to relinquish all other control over the trust i.e. administered and managed by others without updates, advice, instruction, or account to the settlor. Whether ...