Archive for the ‘Estate Planning’ Category

What are the Tax Consequences of Disclaiming or Releasing an Interest in a Trust? Part 1

Monday, October 20th, 2014

The CRA recently began an initiative to consolidate the information provided in its income tax interpretation bulletins and income tax technical newsletters. The new publications are called “folios”. As each folio is released, it is subject to a three-month comment period. In late September, the CRA released “S6-F2-C1-Disposition of an ...

A Business Succession Success Story

Wednesday, October 15th, 2014

Last week I stopped by Walter Beauchamp Tailors to purchase a new tie (I was attracted by the “clearance sale” sign in the window). As fortune would have it the owner, Terry Beauchamp, was the person who helped me out. I asked Terry if the store was closing. Terry, who ...

SEPARATED COMMON LAW SPOUSES DON’T BENEFIT FROM ROLLOVERS – THE SEQUEL

Thursday, October 9th, 2014

In my last blog, Who Knew There is a Benefit to Having Two Spouses, I spoke of the ability to benefit from a rollover for income tax purposes in respect of property that passes to two different individuals, each of whom qualifies as the spouse or common-law partner of the ...