The CRA recommends trust administrators start filing online because it’s a much simpler and faster process
The proposals concern investment funds, charitable donations and spousal trusts
New tax rules may cause spousal trust assets to be taxed in the hands of someone who does not receive the assets
This type of trust can be especially useful for clients with blended families
For clients 65 and older, these living trusts can provide a number of important advantages
A review of the key types of trusts and how they are used in financial planning
A wealthy family looks for advice about how to reduce taxes on future capital gains, including transferring the anticipated increase in the appreciation in the husband's shares in the firm in which he works to his wife and the three children
Make sure your clients know about the services you provide
Following a series of recent, significant judgments, it has become crucial to know where your clients' trusts are actually managed. Failure to stay on top of the new rules could result in higher than expected taxes on assets held inside these trusts
Genuine sales to a trust by its beneficiaries are not subject to the attribution rules