SPOUSAL TRUST INCOME DESIGNATIONS: A “BEWARE”

Tuesday, January 7th, 2014

A spousal trust, by definition is a trust that must pay or make payable all of its income to the spouse beneficiary on an annual basis. Nevertheless, there may be a good reason to have the income taxed in the spousal trust. The spouse beneficiary may have in a given year, ...

VALUATION OF AN INTEREST IN A DISCRETIONARY TRUST – PART 2

Thursday, October 24th, 2013

In my last blog I wrote that if a beneficiary of a discretionary trust (typically a family trust) passes away, his or her interest in the discretionary trust may have value for estate administration purposes. In technical interpretations, supported by court cases, the Canada Revenue Agency ("CRA") looks to the ...

Filing deadlines

Thursday, January 10th, 2013

Just about everything tax-related comes with a deadline. Miss the deadline and more often than not there will be a penalty and perhaps some interest. The remainder of the blog will address the filing deadline of a trust which is wound up and its remaining assets distributed to ...