Archive for the ‘Investments’ Category

POWERS OF ATTORNEY AND ALTER EGO TRUSTS

Tuesday, September 16th, 2014

My fellow bloggers and I have written in the past about the ins and outs of legitimate probate fee avoidance arrangements available to a testator. These arrangements include an intervivos transfer of assets such as alter-ego trusts. Care and advice must be taken to ensure that the transfer of assets ...

PRICE ADJUSTMENT CLAUSES IN ESTATE PLAN AGREEMENTS

Thursday, August 28th, 2014

Many estate plans include a transfer of property (e.g. shares of a privately held corporation) to a company and freeze the value (or price) of the transferred property to the current owners at the transfer date. To avoid some punitive provisions in the Income Tax Act associated with non-arm’s ...

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 ...