November 23, 2021
In its role as a financial advisor, Baker Tilly Canada Capital Corporation (BTCC) helps small- to mid-size companies execute sell-side, buy-side and valuation engagements.
March 10, 2021
by
John F. Oakey
On July 27, 2018, the Department of Finance proposed changes to the Income Tax Act to require trusts to file T3 Trust Income Tax and Information Returns to provide prescribed information, applying to non-excepted trusts having taxation years ending after December 30, 2021.
August 30, 2018
by
Bill Crowther
Discretionary family trusts are used extensively for tax, family and succession planning, as they afford enormous flexibility. In most cases, when such trusts are created, beneficiaries do not pay for their interest, and this assumption is made herein. Once a trust is settled, it will exist until all the assets are distributed to the beneficiaries and the trust is wound up.
July 30, 2018
by
Bob Boser
On July 18, 2017 the Federal Finance Minister announced proposals to change the tax rules related to income splitting using private corporations. The original proposals were subsequently withdrawn in October, re-released in December and after further changes the proposed legislation was included in Bill C-74 in March 2018. Bill C-74 received Royal Assent on June 21, 2018 and the new tax on split income (TOSI) rules are now in effect as of the beginning of 2018.
December 22, 2015
This discussion is a continuation of our earlier Tax Alert and will focus on selected traps that taxpayers should be aware of when undertaking tax planning involving trusts. Although there are many different types of trusts, the focus of this discussion will be on discretionary family business trusts with Canadian resident trustee(s) and beneficiaries.
December 14, 2015
by
Bryan A. Tannenbaum, Daniel Weisz
The settlement of an estate can be a magnet for litigation. That’s particularly likely in families where the estate is complex, possibly involving ongoing businesses and investment property. Divorce among family members, including children of the deceased, can add to the complexity, causing will-challenge litigation that goes on for months or years.
