Archive for the ‘Estate Administration’ Category

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 ...

Living in a Cloud? It doesn’t mean what it used to!

Friday, July 4th, 2014

Last week I had the pleasure of presenting as part of a panel at an Estate Planning Workshop organized by Mr. Christian Steinbock from Dominion Securities. I was joined by Ms. Indra Bharat, Financial Planning Consultant with RBC and Mr. Ismail Barmania, Estates and Trust lawyer at Barmania-Lawyers. ...