TRUSTS – A REBIRTH?

Wednesday, December 17th, 2014

The construct of a “trust” has its beginnings in equitable principles developed many centuries ago. Since the creation of this construct, the separation of legal and beneficial enjoyment of property has provided a means to plan one’s property and financial affairs, in a manner that also provided tax benefits. Similarly, ...

Proposed Changes to Charitable Tax Credits Less Flexible than First Appeared

Friday, November 21st, 2014

When the government released the 2014 Federal Budget last February, one buzzed-about change was the increased flexibility the Budget proposed for testamentary charitable donations. Under the current rules, gifts by Will to charities are deemed to have been made by the deceased immediately before his or her death and may only ...

Relief From Uncle Sam

Thursday, November 13th, 2014

Uncle Sam has given US taxpayers living in Canada some relief when it comes to holding interests in RRSPs or RRIFs. Prior to the October 7, 2014 IRS announcement, US income tax would be payable by a US citizen or resident alien on income accruing in an RRSP or RRIF, even ...