Tax Issues

Total 356 Posts

CAPITAL DIVIDEND ACCOUNT ELECTIONS AND THE DATE GONE WRONG?

•

As I mentioned in a previous blog, the capital dividend account (“CDA”) is often a central feature of tax planning for individuals with private corporations with the opportunity to make tax-free distributions to shareholders on the disposition of certain capital assets. It gains particular focus in estate planning scenarios and eventually in estate and trust administration. As I also mentioned, the management of the CDA is a tricky proposition with….

CAPITAL DIVIDEND ACCOUNT ELECTIONS AND THE DATE GONE WRONG? Continue Reading »

Canada Revenue Agency, Estate Administration, Estate Planning, Investments, Liability, Property, Small Business, Succession Planning, Tax Issues, Trusts

TRUST INSTALLMENT REQUIREMENTS, INTEREST AND PENALTIES

•

One of the many tasks associated with the administration of trusts is making sure all tax payments are made on a timely basis to protect the trust and its beneficiaries from avoid interest and penalties. In this regard, most trusts are required to make installment payments. Prior to 2016 only inter vivos trusts (other than grandfathered inter vivos trusts) were legislatively required to make instalment payments under the relevant sections….

TRUST INSTALLMENT REQUIREMENTS, INTEREST AND PENALTIES Continue Reading »

Estate Administration, Estate Planning, Executors, Interest, Property, Tax Issues, Trustee, Trusts

Determining the CAPITAL DIVIDEND ACCOUNT BALANCE: no longer a shot in the dark?

•

The capital dividend account (“CDA”) is a tax free surplus account within a private corporation which gives shareholders designated capital dividends, tax-free. The CDA typically contains the non-taxable portion of the company’s capital gains net of capital losses, capital gains received by other companies, proceeds of life insurance on death and other capital like distributions. The CDA account is often a central feature of tax planning for individuals with private….

Determining the CAPITAL DIVIDEND ACCOUNT BALANCE: no longer a shot in the dark? Continue Reading »

Business Succession Planning, Canada Revenue Agency, Estate Administration, Estate Administration and Probate Applications, Estate Litigation, Estate Planning, In the News, Investments, Small Business, Succession Planning, Tax Issues, Trusts

Principal Residence Exemption and some of the “What if’s”

•

In my last blog, I wrote about the role of “beneficial” ownership in the determination of whether a property qualifies for the principal residence exemption. With an acknowledgment to Keith Masterman of “Advisor.ca”, I thought I would take the opportunity to write about some other “what if’s” and how the exemption may or may not apply. As an executor or trustee, you may encounter these scenarios and it might be….

Principal Residence Exemption and some of the “What if’s” Continue Reading »

Canada Revenue Agency, Cottage, Estate Administration, Estate Planning, Executors, Investments, Joint Tenancy, Property, Real Estate, Tax Issues, Trustee, Trusts
Scroll to Top