TRUST INSTALLMENT REQUIREMENTS, INTEREST AND PENALTIES

Tuesday, August 23rd, 2016

One of the many tasks associated with the administration of trusts is making sure all tax payments are made on a timely basis to protect the trust and its beneficiaries from avoid interest and penalties. In this regard, most trusts are required to make installment payments. Prior to 2016 only inter ...

Determining the CAPITAL DIVIDEND ACCOUNT BALANCE: no longer a shot in the dark?

Tuesday, August 9th, 2016

The capital dividend account (“CDA”) is a tax free surplus account within a private corporation which gives shareholders designated capital dividends, tax-free. The CDA typically contains the non-taxable portion of the company’s capital gains net of capital losses, capital gains received by other companies, proceeds of life insurance on death ...