Category Archives: Tax and Accounting

Estate Planning Using a Trust

Many Canadian couples will die with a net worth of more than $1-million, and it is important to properly plan for the distribution of this wealth. (more…)

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Enlist Professionals for Your Estate Planning Team!

Wealth management: a contact sport?

Figuring out who to have on your team when planning your estate can be a challenging task. This article outlines some tips to make sure you have all the right professionals on your team, in order to ensure that your estate plan provides you with peace of mind.

Full Story at The Blunt Bean Counter.

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ERAssure®, Canada’s only provider of executor liability insurance provides FREE Inheritance Planning Guides and Executor Guides to help in the process of both estate planning and estate administration.

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Recent Decision Allows for Greater Relief on Tax Interest

Corina Weigl from All About Estates Blog reviews the recent victory for taxpayers in Bozzer v Minister of National Revenue. (more…)

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Ontario Estates Tax Act

Recent revisions to the Estate Administration Tax Act (Ontario) entail new reporting, enforcement and penalty provisions, explains Susannah B. Roth of O’Sullivan Estate Lawyers in this article.

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ERAssure®, Canada’s only provider of executor liability insurance provides FREE Inheritance Planning Guides and Executor Guides to help in the process of both estate planning and estate administration.

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High Net Worth Canadians with U.S. Property and Assets May be Subject to U.S. Estate Taxes

Canadians with a net worth greater than 5.25m and assets held in U.S.  corporations or real estate may be subject to U.S. estate taxes.

Executors have always had a great deal of responsibility, but the job has arguably become more risky as information becomes more readily available.  For more information on the roles and responsibilities of the executor, download our FREE step by step Executor Guide.

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Tax and Succession Planning

In this brief podcast, estate lawyer Ian Hull of Hull and Hull LLP focuses on what he calls a “summary of considerations” for dealing Canadian tax issues. (more…)

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Tax Season for Executors

As tax season is upon us, it is important to highlight the duties that executors have in ensuring that the taxes owed by an estate are dealt with properly. (more…)

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Tax Filing Deadlines

Written by: Derek de Gannes, CW Partners

Just about everything tax-related comes with a deadline. Miss the deadline and more often than not there will be a penalty and perhaps some interest. The remainder of the blog will address the filing deadline of a trust which is wound up and its remaining assets distributed to the beneficiary.

Generally speaking, a return of income for a trust or estate must be filed within 90 days from the end of the tax year. The tax year of an individual, which includes a trust, is defined as being a calendar year. (more…)

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Estate Planning for Cottages and Vacation Homes

When summer hits, many Canadians flock to what this CIBC article refers to as the “4 C’s”: the cottage, chalet, condo or cabin. Many people own vacation homes, but these properties can cause angst between beneficiaries when there is inadequate estate and tax planning in place for these assets. (more…)

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Tax Clearance Certificates and Estate Administration

An executor is responsible for administering the assets of an estate, but can he or she begin to start this task before obtaining a tax clearance certificate? (more…)

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