CAN AN EDUCATIONAL ASSISTANCE PAYMENT BE MADE TO A DECEASED PERSON USING THE SIX MONTH Extension PROVISION CONTAINED IN THE INCOME TAX ACT

Monday, December 21st, 2015

Recently, The Canada Revenue Agency ("CRA") was whether the six month extension for making educational assistance payments ("EAPs") out of a registered education savings plan ("RESP") under the appropriate subsection of the Income Tax Act (the "Act") can apply when the beneficiary under the plan is deceased. The Act stipulates ...

INCOME DISTRIBUTIONS AND CHARITABLE GIVING AND THE NEW PERSONAL TAX RATES

Friday, December 11th, 2015

If you are like most individuals at this time of the year, you probably don’t give too much thought to your taxes and perhaps putting it off until the filing deadline for tax returns approaches being in the spring of each year for most. For those who are beneficiaries of ...