TAX FREE ROLLOVERS: DIVORCE AND DEATH – NOT A GOOD MIX

Tuesday, December 6th, 2016

Recently, the Canada Revenue Agency (“CRA”) was asked to comment on a scenario involving the transfer of a RRSP and a capital asset between ex-spouses, and one the spouses dies before the rollover can be effected: Do the tax free rollover provisions found in the Income Tax Act (“ITA”) still ...

Trust distribution of Property

Tuesday, November 8th, 2016

The Canada Revenue Agency (CRA) was asked if a distribution of certain property to beneficiaries is a taxable event, when an attribution rule (triggered by a beneficiary who contributed the property to the trust) ceases to exist? A personal trust resident in Canada was settled with a gold coin. The ...