DEEMED DISPOSITION OF A TRUST INTEREST

Friday, April 10th, 2015

The Canada Revenue Agency (“CRA") recently released a technical interpretation on the cost of assets transferred from a trust, which the deceased taxpayer was beneficiary of, to the taxpayer’s estate. In many cases, when a beneficiary of a trust dies, his or her interest in the trust ends. In the ...

End of Life Planning and Where Canada Ranks.

Wednesday, April 8th, 2015

More data from the Canadian Institute for Health Information (CIHI) is an independent not for profit organization that was created in 1994. In addition to the caregiving information I shared on my last blog, their data also examined planning for end of life. April 16, 2015 is Advance Care Planning ...

DECEASED RRSP TRANSFER TO SPOUSE: ESTATE TAX NOT AVOIDED ON A TECHNICALITY

Tuesday, March 24th, 2015

A couple of years ago, a fellow blogger wrote about the tax reporting and liability technicalities surrounding the transfer of RRSP’s on death to a spouse. As he wrote, the general rule is that upon death, the annuitant is deemed to have received the fair market value of the assets in ...