This blog has been written by Rahul Sharma, Partner, Fasken Martineau DuMoulin LLP, Toronto The world is ever-changing. The UK non-domiciliary regime is ending, although with what appear to be potentially helpful tax measures available to new residents for a four-year period. Certain favourable golden visa programmes in European countries are…
Category: International
Total 41 Posts
The Canadian concept of taxing the deceased by deeming a disposition at death is contrary to many countries where the inheritance tax is paid by the heirs upon receiving money or properties from a deceased person. In other words, while Canada taxes the deceased on death, most countries – notably…
What are the tax implications if you are a beneficiary of a U.S. estate? Rarely do we consider the implications of a Canadian resident inheriting from a U.S. estate. From a Canadian Tax Perspective The general rule is the Canadian beneficiary shall receive their inheritance tax-free since the U.S. estate…
Are you a U.K. citizen? A simple question that may trigger many additional questions from the estate advisor if the answer is, yes. Why? Canada and the U.K. impose income tax obligations on the basis of a taxpayer’s residency. However, the current U.K. Inheritance Tax (IHT) applies to the much…
The joy of working with clients with multi-jurisdictional assets and families can be dampened by the frustrations triggered by working with authorities in those jurisdictions for the timely administration of estates. Having proper authentication of key estate administration documents – birth and death certificates, divorce judgments, probate certificates come to…
When a trust makes a capital distribution to a non-resident beneficiary, the beneficiary is deemed to have disposed of a part or the whole of their capital interest in the trust.[2] Where the capital interest in the trust is “taxable Canadian property” (“TCP”),[3] the vendor of the TCP (i.e. the beneficiary who is deemed to be “disposing” of their interest in the trust) must apply for a clearance certificate from the Canada Revenue Agency (the “CRA”) under section 116, either in advance of the disposition or within 10 days of the disposition.
Today’s blog is written by Jessica J. Butler, Law Clerk at Fasken LLP. Italian cinema legend Gina Lollobrigida passed away at the age of 95 in January 2023. Known by fans as ‘La Lollo’, she starred in over 60 films which included the likes of Frank Sinatra and Sean Connery….
Today’s Blog was written by Rahul Sharma, Partner, Fasken LLP, Toronto My last blog post was very early in the year. In that post, I outlined — and generally responded to — certain common questions posed by newcomers to Canada. As the year progresses, Canada continues to draw in large…
Today’s blog is written by Jessica J. Butler, Law Clerk at Fasken LLP. As today’s world continues to grow increasingly interconnected, more estate professionals find themselves dealing with a web of cross-border assets and jurisdictional issues. This post considers certain issues that you might face when administering a Canadian estate…
This Blog was written by: Alicia Mossington (Godin), Estate and Trust Consultant, Scotia Wealth Management The British royal family has been in the news frequently over the past 18 months: from the deaths of Prince Philip and Queen Elizabeth II to the crowning of King Charles and the release of Prince…