NEW ESTATE INFORMATION RETURN: ADDITIONAL NOTES OF CAUTION

Thursday, January 29th, 2015

In a recent blog – just in time for the holidays as the blogger put it – executors and prospective executors were alerted to the requirement in Ontario for a new estate information return to be filed in addition to an application for a Certificate of appointment of Estate Trustee ...

Foreign reporting in the year of death

Tuesday, January 20th, 2015

The Canada Revenue Agency (CRA) recently shared its view on how to calculate the cost amount of shares held as capital property in the year of death of an individual. The CRA described a hypothetical situation where an individual died on July 1, 2013, owning property that was specified foreign property ...

Whose asset is it – the question of “title”?

Wednesday, December 10th, 2014

The Canada Revenue Agency (CRA) was recently asked for their comments with respect to a change in legal ownership of property for income tax purposes in a situation where a person held legal title to property and their former spouse had beneficial ownership as a result of the settlement rights ...