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 ...

Income allocated by a US trust

Tuesday, July 19th, 2016

The Canada Revenue Agency (CRA) was asked whether income allocated by a US trust to a resident of Canada retains its nature as a dividend. The taxpayer was a beneficiary of a US trust established by her aunt on the aunt's passing. In the aunt's will the income, primarily from ...