Qualified Disability Trusts: The last of the Trusts with Graduated Tax Rates

Thursday, June 4th, 2015

My fellow bloggers have written about the elimination of the graduated tax rate system for testamentary trusts effective January 1, 2016, which means all trusts except the “Qualified Disability Trust” (“QDT”) and the “Graduated Rate Estate” (“GRE”) will be subject to the top rate of tax on income retained in ...

TRUSTEE AND BENEFICIARY – AN ARRANGED MARRIAGE?

Wednesday, June 3rd, 2015

In my last blog I spoke about the importance of parents engaging the next generation in the process of family legacy planning. Fundamental to the success of multi-generational legacy planning, is the ability to embrace transparency and mutual engagement as the guiding principles. Transparency and engagement in the process equally ...

Withholdings on Retiring Allowances

Thursday, May 7th, 2015

With the recently concluded round of personal tax filings I have seen a number of tax returns where the taxpayer has reported income from a retiring allowance. More often than not the employer has withheld tax on the withdrawal however the withheld tax isn't always enough to cover the ...