Information About McLennan Ross Wills & Estates Law Blog
Below is a preview of the five most recent posts from the blog McLennan Ross Wills & Estates Law Blog. To read these posts in their entirely or subscribe to future updates from this blog, please visit their website!
- Proposed Changes to Foreign Affiliate Dumping Rules: Individuals, Trusts and Estates May Now Be Caught
By MaryAnne Loney and Moe Denny The government is proposing changes to the Income Tax Act which could impact many Canadian corporations with foreign affiliates.Of particular concern are situations where controlling interests in such corporations are owned by individuals emigrating from Canada, or tr … Read more »
- What Do The New Tax On Split Income (“TOSI”) Rules Mean For Trusts?
By: MaryAnne LoneyA recent tax change that has gotten a lot of attention is the tax on split income, or “TOSI”. Through design or inadvertently, many trusts will be affected by these rules. Many family trusts were set up at least partially to split income to family members. Even when income splittin … Read more »
- The Value of Digital Assets and Why It Should Not Be Ignored in Estate Planning
Author: Marika Cherkawsky, Student-at-Law Your house, children, jewelry and art, these are all the typical items a person will think about when planning their Estate. However, what is often forgot about is a person’s digital assets. In a report on digital assets, Kimberly Whaley, defines digital as … Read more »
- Changes in the Wind for Cohabitating Couples
Author: Karen Platten, Q.C.For many individuals in Alberta, living in a relationship of interdependence (a common law relationship) without the benefit of marriage is a choice. The choice involves the notion that they do not want the legal obligations of marriage, such as division of property, to ap … Read more »
- New Trust Reporting Requirements – Big Implications?
Authors: MaryAnne Loney and Mike Harris All trustees need to be aware that trust reporting requirements are changing. Currently, a trust only needs to file an income tax return in certain circumstances, including if it earns income, disposes of capital property, or makes distributions to benefici … Read more »