All About Estates

Sebastien Desmarais

Total 2 Posts
Sébastien Desmarais is a Tax and Estate Planner at TD Wealth, Wealth Advisory Services.

Non-Resident Beneficiary and Part XIII Withholding Tax – Trustee Beware

When trustees distribute income of a trust to a non-resident beneficiary, they must be mindful of potential Canadian tax implications. Part XIII tax is a tax withheld at source when income is paid to a non-resident. For Canadian trust and estate purposes, Part XIII requires a non-resident beneficiary to pay…

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Non-Resident Beneficiary and Part XII.2 Tax

It’s not uncommon for a trust or an estate to have a non-resident beneficiary. When such a situation arises, trustees should consider whether Part XII.2 tax applies. Essentially, Part XII.2 imposes a 40% tax on the non-resident beneficiary if the trust or estate earns designated income that would, if earned…

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