The Canada Revenue Agency (CRA) will only accept one return per tax year. Once you have filed your T1 return, you can’t file a new one. But you…
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ESTATE PLANING TOOLS - III Testamentary and life interests Trusts Previous posts discussed wills and joint tenancy as they are used for estate planning. This post is about trusts. There...
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ESTATE PLANING TOOLS - II Previous post discussed wills, which are the basic tool and should be in place for all estates if for nothing else then to appoint the...
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MANAGING AFFAIRS OF THE ADULTS Power of Attorney The purposes of the Power of Attorney (“POA”) are usually limited to making financial decisions on behalf of the grantor. The POA...
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Reversionary Trusts Trusts are meant to hold property for the benefit of someone (beneficiary) other than the person who put that property in the trust (settlor). So, from the moment...
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Use of family trusts The Income Tax Act (ITA) provides for over 50 different types of trusts. Each type is used for different purposes and for different circumstances. Different rules...
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7 Reasons you should make an estate plan An estate planning is not only for the rich and not only about dying and what you are leaving behind – it’s...
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Timing of Departure from Canada There is a number of Canadian income tax rules that should be considered and their consequences optimized to make emigration from Canada as economically effective...
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Departure tax Deemed dispositions When a person is ceasing to be a resident of Canada, a person is deemed to have disposed of certain types of property at their fair market...
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Ownership of Intellectual Property The issue of intellectual property has recently came up in a few business sale and purchase files, so that I had to look into this and...
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