Archive for the ‘Trusts’ Category

Provincial residency of a Trust

Tuesday, May 3rd, 2016

The Canada Revenue Agency (CRA) was asked if there was any change to their view regarding the application of the central management and control (CMC) test in establishing the residency of a trust for provincial income tax purposes in light of the decisions in Discovery Trust v. Canada and Boettger ...

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 ...