The Rush to Avoid the 21 Year Deemed Disposition Rule: a Word or Two of Advice

Thursday, December 18th, 2014

As a professional advisor over the years, I have learned to accept good advice as well if not more than giving it. Recently, Colleen Ma of Dunphy LLP wrote about how the rush to avoid the 21 year rule for discretionary family trusts can lead to real problems if not executed ...

Redeemable Preference Shares: Accounting Proposal might complicate estate tax plans

Tuesday, December 2nd, 2014

Estate and succession planning arrangements often involve the creation of redeemable and retractable preference shares to “freeze” the value of a business to permit the transfer of the business’ future growth to designated successors. This is commonly found in estate planning arrangements for family owned businesses but it is also ...

Inter-vivos trust instalments

Monday, November 24th, 2014

The Canada Revenue Agency (CRA) was recently asked to comment on their administrative practice to waive the requirement to make tax instalments where the taxpayer is an inter-vivos trust. Under current administrative practices, the CRA does not assess penalties or interest where an inter vivos trust fails to make sufficient instalment ...