Archive for the ‘Investments’ Category

DEEMED DISPOSITION OF A TRUST INTEREST

Friday, April 10th, 2015

The Canada Revenue Agency (“CRA") recently released a technical interpretation on the cost of assets transferred from a trust, which the deceased taxpayer was beneficiary of, to the taxpayer’s estate. In many cases, when a beneficiary of a trust dies, his or her interest in the trust ends. In the ...

DECEASED RRSP TRANSFER TO SPOUSE: ESTATE TAX NOT AVOIDED ON A TECHNICALITY

Tuesday, March 24th, 2015

A couple of years ago, a fellow blogger wrote about the tax reporting and liability technicalities surrounding the transfer of RRSP’s on death to a spouse. As he wrote, the general rule is that upon death, the annuitant is deemed to have received the fair market value of the assets in ...

The Substantial Presence Test

Friday, February 13th, 2015

In the administration of an estate, you may need to determine if the deceased who was a frequent traveller to the U.S. was in fact a U.S. resident, therefore required to make US income tax filings. An individual is considered to be a U.S. resident for any calendar year in which ...