On February 5, 2021, I wrote a blog on Section 16(b) of the Succession Law Reform Act. Now, almost three months later, Ontario’s Bill 245 has received royal assent. Among many other changes to various pieces of legislation, Bill 245 revokes section 16 of the Succession Law Reform Act (the…
Month: April 2021
Total 18 Posts
I suggest that improved screening for vulnerability to abuse is clearly needed for seniors appointing family members as attorneys for property.
Bill C-208 (Bill), “an Act to amend the Income Tax Act (transfer of small business or family farm or fishing corporation)” is a private member’s bill introduced by Conservative MP, Larry Maguire[1] on February 19, 2020. The purpose of this Bill is to allow share capital restructurings and inter-generational transfers within…
Federal Budget 2021 Highlights summarized by National Institute on Ageing: Today’s blog will highlight important 2021 budget information as it relates to Seniors. I have used the NIA COMMENTARY ON THE 2021 FEDERAL BUDGET[1] as they have said better that I. 1. Delivering an Apology to Canada’s Seniors …
In a historic moment in Canadian history, Canada’s first female Minister of Finance (and Deputy Prime Minister), the Honourable Chrystia Freeland, presented the Government of Canada’s 2021 Federal Budget (“Budget 2021”) on April 19, 2021. Budget 2021 contains significant proposals to amend the Income Tax Act (Canada) (the “ITA”), the…
This Blog was written by: Alicia Mossington (Godin), Estate and Trust Consultant, Scotia Wealth Management Prince Philip, Duke of Edinburgh was born on June 10th, 1921 and passed away on April 9th 2021, at the age of 99. The Duke was born Prince Philip of Greece and Denmark but abandoned these…
The 2021 Federal Budget announced the Government’s intentions to launch a consultation with charities about “potentially increasing the disbursement quota…beginning in 2022.” Any increase of the disbursement quota (DQ) rate above the current 3.5% annual requirement will have significant implications for the charitable sector, foundations and donors. Below is…
I previously blogged about Chief Justice Morawetz’s December 29, 2020 Notice to the Profession that that all non-jury matters shall proceed virtually unless it is absolutely necessary for the matter to be conducted in person. Chief Justice Morawetz now has put forward a new Notice to the Profession dated April…
With the reputation of Long Term Care Homes hitting a new low, it comes as no surprise that seniors want to grow older in their own homes. A few facts: The number of seniors increased by 4.2 million over the past 38 years. Over the next 22 years Canada will…
On April 19th, the federal government will table its first budget in two years. This budget comes in the middle of Canada’s third wave of COVID-19 and is set to address the pandemic’s resulting economic challenges. Practitioners can likely expect, if they are not receiving them already, calls from clients…