Archive for the ‘Trusts’ Category

RESP’s – A couple more wrinkles on EAP’s and AIP’s

Tuesday, April 26th, 2016

In a recent blog, I wrote that the Canada Revenue Agency (“CRA”) was asked whether the six month extension for making educational assistance payments ("EAPs") out of a registered education savings plan ("RESP") under the appropriate subsection of the Income Tax Act (the "Act") can apply when the beneficiary under ...

TRANSFER OF PROPERTY FROM PERSONAL TRUST TO BENEFICIARY

Tuesday, March 22nd, 2016

Recently, the Canada Revenue Agency (“CRA”) was asked to comment on a scenario involving a transfer of real estate from a Personal Trust to a beneficiary where the beneficiary also assumed a mortgage on a property. In past interpretations, the CRA noted that the transfer of assets from the Trust at ...