Archive for the ‘Joint Tenancy’ Category

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 ...

A Cabin in The Woods: Avoid the Tax Horror?

Monday, May 26th, 2014

Recently a taxpayer asked the Canada Revenue Agency (“CRA”) if an exemption could be applied to eliminate the capital gain on the sale of a cabin “in the woods” purchased in very poor condition and made livable with subsequent investment. I thought the details of CRA’s response were a good ...

Court of Appeal: Promise to Gift House to Son Unenforceable

Tuesday, April 22nd, 2014

The recent Ontario Court of Appeal decision in Kavanagh v. Lajoie serves as a reminder to folks on the receiving end of a promise not to count their chickens before they are hatched. In 2005, Mark Lajoie’s father promised to gift him a house in Ottawa.  The father then transferred title ...