All About Estates

Category: Canadian and US Tax Treaty

Total 17 Posts

More on Graduated Rate Estates

At a recent conference of the Society of Trust and Estate Practitioners, the Canada Revenue Agency (“CRA”) was asked to respond to certain questions regarding Graduated Rate Estates (GRE’s), in particular around the actual definition of a GRE and its application to a situation where the deceased has more than…

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OWNERSHIP OF FOREIGN PROPERTY

The Huffington Post reports that over a third of foreign buyers of real estate in Florida are Canadians. Another article reports that Canadians are the leading buyers of US real estate. In earlier blogs I’ve talked about the specter of US estate taxes that arises when a Canadian dies owning US situs property, like real estate. Besides this complexity, the ownership of foreign property raises the potential for challenges in the administration of an estate. As a result, when developing an estate plan that includes foreign real estate it is important to consider a number of issues, some of which are…

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Tax Reporting Obligations for Trustee and Executor Fees

In general, the payment of amounts for services rendered triggers some form of tax reporting and often, an obligation on the payer to withhold and remit amounts on account of tax. Payments made to trustees and executors are no different.

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