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…
Category: US Taxes
Total 20 Posts
January is kickstarting what seems to be the “Year of the Hats” for me. In addition to my usual winter hat and estate planner hat, this month I’m also fashioning my wedding planner hat, COVID style. As it turns out, planning a February wedding during a COVID lockdown actually means…
The 2020 U.S. election is over and the votes have been tabulated, and in some counties the votes have even been tabulated more than once. Unless there is some Republican wild card waiting to be plucked out of the proverbial magic hat, then Joe Biden will be inaugurated president of…
With TIFF in full swing, celebrity worship is in overdrive. However, celebrities also deal with the mundane and there is often nothing glamorous about their estates. In fact, like the rest of us mere mortals, celebrities do not have a lock on getting things right. So often, there is so…
Today’s blog comes to you from Student-at-Law, Derrick Raphael. As a new resident of Canada there are several issues that an individual must consider such as tax implications while residing in the country as well as one’s previous jurisdiction. Additional areas of interest regard how to manage assets, property and other…
As part of the ‘Donald’s’ post-election “promises” we heard rumours that US gift and estate taxes were going to be repealed. While we did not see a repeal, we did see a significant change to the rules related to US gift and estate tax. The particular change came forward in…
Frequently, I am reminded how careful one has to be with making sure that tax-free inheritances generally maintain their status throughout all steps to liquidate and realize the proceeds. Here is a case in point. In Owen v The Queen (2018 TCC 90), the taxpayer’s father resided in the United…
Tomorrow is Election Day in the U.S.
By Paul Fensom •
November 7, 2016
No matter who wins the election, any changes to the U.S. Estate tax system won’t likely happen right away but one thing is certain, this election has being very taxing on everyone.
Happy Independence Day !
By Paul Fensom •
July 4, 2016
This year’s STEP conference featured over 65 speakers including for the very first time, the IRS spoke on Canadian soil about offshore compliance options including OVDP and streamlined compliance procedures.
INCOME FROM A U.S. TRUST: CAN IT EVER BE TREATED AS DIVIDEND INCOME?
By Steven Frye •
June 14, 2016
Sometime ago, a relative of a Canadian taxpayer died in the US and she left her money in a charitable trust, with some of the income bequeathed to the Canadian taxpayer annually. The trust income is derived mostly from US dividends. With a series of proposed adjustments to her personal…