QSBC Shares and the Lifetime Capital Gains Exemption

Ian Worland

  http://www.legacylawyers.com/wp-content/uploads/QSBC-Shares-and-the-Lifetime-Capital-Gains-Exemption.pdf

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The First Appointment

Kate Marples

The First Appointment Receiving instructions from clients and providing advice to them in response to those instructions is at the heart of a Wills and Estate Planning practice.  Developing standard practices for an initial client interview, file opening…

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The Principal Residence Exemption

Laura M. Peach


PREPARING FOR PROPOSED CHANGES Many taxpayers are aware that an exemption from tax on capital gains may be available when those gains arise from the disposition of their principal residence. However, proposed changes to the Income Tax Act could limit the…

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Taxation of Personal Trusts

Kate Marples

Introduction The use of trusts in estate planning gives rise to a variety of tax issues. In some circumstances the use of a trust as part of an estate plan can minimize or defer income tax liabilities, but if drafted incorrectly, or without the proper…

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Transfers to the Corporation: Section 85 Rollovers

Nicholas P. Smith

I.     INTRODUCTION S.85(1) of the Income Tax Act (Canada) (the “ITA”)[1] allows a person to transfer property to a taxable Canadian corporation on a tax-deferred basis.  This rollover allows a person to defer the recognition of income, capital gains…

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International and Interprovincial Tax Planning Issues for Individuals and Trusts

Nicholas P. Smith

I.     INTRODUCTION Planning for clients with assets and beneficiaries in multiple jurisdictions requires knowledge of residency and the deeming rules that could alter its common law meaning. The interprovincial source rules for the taxation of…

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When You Can’t Trust the Trust: The Scope for Reversing or Rectifying Trust Transactions

Kate Marples

I.     INTRODUCTION There are many circumstances in which a trustee may encounter a difficult situation: perhaps the express provisions of the Trust Deed or Will under which he or she is acting as a trustee are patently incorrect or poorly drafted;…

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