Archive for the ‘Loans’ Category
Monday, April 8th, 2013
The Canada Revenue Agency (CRA) was recently asked to comment on whether it considers an amount was “payable” and evidenced by a promissory note thus deductible in the calculation of the income of a trust and added to the income of a minor child.
The CRA had the following comments:
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Posted in Estate Administration, Estate Planning, Loans, Trusts | No Comments »
Wednesday, December 19th, 2012
These days its not unusual to to see debts referred to in a Will. In some cases, the debt may be forgiven altogether thus leading to a question of whether or not there could be tax relief to the estate.
In a recent technical interpretation, the Canada Revenue Agency took ...
Posted in Estate Litigation, Estate Planning, Executors, Loans, Trusts, Wills | No Comments »
Tuesday, July 17th, 2012
In many cases one of the key objectives in a tax plan is to either split income or allocate capital gains for purposes of accessing the capital gains exemption amongst related persons. Of the many attribution rules in the Income Tax Act, one such rule may upset the planning ...
Posted in Business Succession Planning, Estate Planning, Executors, Loans, Succession Planning, Trusts | No Comments »
