Darren Lund

In my last blog I noted that at the recent STEP conference, representatives of the Canada Revenue Agency confirmed that the introduction of the new qualified disability trust (“QDT”) rules had not restricted the ability to use the preferred beneficiary election, provided the requirements for the preferred beneficiary election are otherwise met. In this blog I will outline in more detail the elements of the preferred beneficiary election. The definition….

As fellow bloggers have noted, the Society of Trust and Estate Practitioners held its annual national conference in Toronto on June 9th and 10th. Each year, one of the most anticipated sessions is the Canada Revenue Agency (“CRA”) Roundtable. Question No. 4 at this year’s Roundtable concerned the interplay between the preferred beneficiary election (“PBE”) and the qualified disability trust (“QDT”). I have in a previous blog outlined the requirements….

I have previously blogged about the new “qualified disability trust” (“QDT”), which is one of two exceptions to the new rule, effective January 1, 2016, that income accumulated in a testamentary trust is taxed at the highest marginal rate. In this blog I will focus on the requirement that a QDT have at least one “electing beneficiary” who is named in the trust (and qualifies for the disability tax credit….

Section 9 of the Ontario Estates Administration Act (“EAA”) is often referred to as the “automatic vesting” provision, since it provides for the automatic vesting of real property in certain circumstances. Specifically, subsection 9(1) provides that real property that is not “disposed of, conveyed to, divided or distributed” among the persons beneficially entitled to such real property within 3 years of the date of death automatically vests in the beneficiaries….

My colleague, Katie Ionson, previously blogged about the new RDSP Income Tax Information Circular IC99-1R1, which the CRA released on February 10, 2016. The Circular contains useful guidance on a number of issues, including the requirements for an RDSP to be registered under the Income Tax Act (“ITA”). While some RDSP features are mandatory, other features are optional and are only available if the issuer has chosen to include them….

I previously blogged about the new qualified disability trust (“QDT”), which became law on January 1, 2016. In my previous blog, I left a discussion of the “recovery tax” for another day. Looking outside as I write this, it appears the proverbial rainy day has arrived!….