Archive for the ‘Trusts’ Category

NEW ESTATE INFORMATION RETURN: ADDITIONAL NOTES OF CAUTION

Thursday, January 29th, 2015

In a recent blog – just in time for the holidays as the blogger put it – executors and prospective executors were alerted to the requirement in Ontario for a new estate information return to be filed in addition to an application for a Certificate of appointment of Estate Trustee ...

Al-Hossain – A Reminder of the Importance of Documenting Trust Relationships

Wednesday, January 28th, 2015

The Tax Court of Canada recently released its decision in the case of Al-Hossain v. The Queen, 2014 TCC 379. The case centred around two unrelated individuals who jointly purchased a home. The central issue was whether the buyers satisfied the requirements for the new housing GST/HST rebate. However, of ...

Foreign reporting in the year of death

Tuesday, January 20th, 2015

The Canada Revenue Agency (CRA) recently shared its view on how to calculate the cost amount of shares held as capital property in the year of death of an individual. The CRA described a hypothetical situation where an individual died on July 1, 2013, owning property that was specified foreign property ...