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Department of Finance provides receptive response on January 1, 2016 rules for the taxation of spousal and similar trusts

Canada - November 20 2015 On November 16, 2015, the Department of Finance issued a letter (the “Letter”) to representative leadership organizations forming part of the…

Amanda J. Stacey, Rahul Sharma.

Distributing an interest in a life insurance policy on a corporate wind-up

Canada - November 20 2015 In a recent Interpretation (CRA Views No. 2015-0573841C6) (the “Interpretation”), the Canada Revenue Agency (“CRA”) discussed its position on a…

Benjamin Mann, Rahul Sharma.

New non-resident trust and related rules enacted: important considerations

Canada - October 21 2013 After well over a decade of debate, consultation and consideration, on June 26, 2013, Bill C-48 received Royal Assent. Bill C-48 is an Omnibus Tax…

Rahul Sharma.

Budget 2013: consultation on denying graduated rate taxation for testamentary trusts and estates – a regressive approach

Canada - October 21 2013 In general, testamentary trusts arise when an individual dies leaving benefits to be distributed to certain persons over an extended period of time…

Rahul Sharma.

The Trustee Act and asset protection/creditor-proofing opportunities for owners of private corporations

Canada - October 10 2012 The unexpected death of a business owner could mean that his or her estate trustees will come to hold legal title to all, if not a controlling portion of, the issued and outstanding shares in the capital of an operating company.

Rahul Sharma.