Katie Ionson

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Katie Ionson is an Associate at Fasken Wealth Management, Charities and Not-for-Profit Group. As part of her wealth management practice, Katie assists clients with Wills, powers of attorney, trusts, marriage and domestic contracts, and trust and estate administration. She has experience using estate planning to address a variety of client objectives, including income splitting arrangements, asset protection and business succession issues. Katie is engaged in a broad practice in the areas of charities and not-for-profit law, which includes preparing applications for charitable status, assisting clients with transitioning to the new federal or provincial not-for-profit legislation, drafting endowment and gift agreements and advising on administrative and tax-related issues. Email: kionson@fasken.com

Newly Released RDSP Circular

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On February 10, the CRA released a circular on Registered Disability Savings Plans (RDSPs, or RDSP, in the singular). A RDSP is a plan that provides savings for individuals eligible to receive the disability tax credit (DTC). To qualify for the DTC, a physician must certify that the intended recipient has a “severe and prolonged mental or physical impairment”…..

Newly Released RDSP Circular Continue Reading »

Canada Revenue Agency, Estate Administration, Estate Planning

CRA Commentary on 74.4(2) Planning and Dividend Payments

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The CRA recently published a severed letter in which it considered the applicability of subsection 74.4(2) to two scenarios involving the payment of dividends from a small business corporation to a holding company, for the benefit of “designated persons”. Generally, subsection 74.4(2) applies to a transfer or loan of property made, directly or indirectly, by an individual to a corporation that is not a small business corporation, if it is reasonable to consider that one of the main purposes of the transfer is to reduce the individual’s income and benefit, directly or indirectly, someone who qualifies as a “designated person” in respect of the individual (e.g. a minor child or spouse). ….

CRA Commentary on 74.4(2) Planning and Dividend Payments Continue Reading »

Canada Revenue Agency, Estate Planning, Tax Issues

CONFIRMATION OF CAPITAL DIVIDEND ACCOUNT ADDITION WHERE CAPITAL GAINS INCLUSION RATE FOR A CHARITABLE GIFT IS ZERO… AND A LIGHTER NOTE

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The Canada Revenue Agency was recently asked to confirm whether, for a gift of ecologically sensitive land, the full amount of the capital gain realized by the corporation would be added to the corporation’s capital dividend account. ….

CONFIRMATION OF CAPITAL DIVIDEND ACCOUNT ADDITION WHERE CAPITAL GAINS INCLUSION RATE FOR A CHARITABLE GIFT IS ZERO… AND A LIGHTER NOTE Continue Reading »

Canada Revenue Agency, Estate Planning

Is it time to review your Will?

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It’s a new year, and for many, with that comes new resolutions! My fellow blogger, Elaine Blades, recently encouraged those readers who are among the 50% of Canadians without a Will to add “making a Will” to their goals for 2016. If you have a Will, you may also wish to consider adding “reviewing your Will” to your resolution list if: You or your intended beneficiaries have experienced significant family….

Is it time to review your Will? Continue Reading »

Estate Planning, Wills

Tis the Season For Giving – Encouraging CRA Commentary for Charitable Giving by Spouses

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Those of us in Toronto this morning woke up to… snow! The weather is a picturesque reminder that the holiday season is nearly here. For many, December inspires consideration not only of what gifts to make to family and friends, but also of what gifts to make to charity…..

Tis the Season For Giving – Encouraging CRA Commentary for Charitable Giving by Spouses Continue Reading »

Estate Planning
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