Archive for the ‘Estate Administration’ Category

Beneficial ownership of a principal residence for tax purposes: A question of Law and Fact

Friday, November 14th, 2014

Let’s say, your parents place legal title of their house in your name for health reasons. However, your parents continue to reside in the house and pay all the household expenses. Then your mom passes away. Your dad continues to reside in the house until sometime later at which ...

Voluntary disclosure – a refresher

Thursday, November 6th, 2014

The Canada Revenue Agency (CRA) was recently asked to speak about their rules regarding tax relief and the late-filing of certain foreign reporting forms. Their answer was as expected and should be of interest to trustees and executors. A taxpayer has failed to make certain foreign reporting filings on a ...

Valuations for estate planning arrangements and tax disputes.

Wednesday, October 29th, 2014

I was at a conference for professional valuators and appraisers from around North America. There was a session devoted to the do’s and don’ts when dealing with the tax authorities on disputes with valuations, presented by two gentlemen with considerable experience with tax disputes on both sides of the border. I ...