Tax News

Tax proposals change how you advise clients Fallback Image Decorative pattern

Industry

Tax proposals change how you advise clients

Earlier this year, one of Canada's largest employers boosted its workforce by thousands of people, without increasing its payroll by a cent. In fact, if you are a Canadian taxpayer or an accountant, lawyer, financial planner, investment advisor, or insurance agent - anyone who receives fees for assisting Canadian taxpayers with a tax plan that provides tax benefits - you have a new employer: the Canada Revenue Agency.

July 8, 2011

8 min read

Do’s and don’ts for advising trusts Fallback Image Decorative pattern

Estate Planning

Do’s and don’ts for advising trusts

Reader Alert: This is a follow-up story to ‘Puppet Trustees’ Get a Second Chance. Two lower court rulings in the Garron Family Trust et al. v. The Queen case established central management and control of trust assets, rather than the residence of trustees, as the key test for determining the residence of a trust. That […]

By Dean DiSpalatro |July 8, 2011

5 min read

“Puppet trustees” get another chance Fallback Image Decorative pattern

Industry

“Puppet trustees” get another chance

The practice of sheltering income from Canada’s tax man by setting up what amount to nominal trustees in a tax haven like Barbados was dealt a severe blow in a recent court case. But the Supreme Court of Canada has decided to hear the case anew, a decision that may breathe new life into a […]

By Dean DiSpalatro |July 6, 2011

3 min read

Retirement income: Back-to-back annuities Fallback Image Decorative pattern

Industry

Retirement income: Back-to-back annuities

Set it up and leave it alone?

By Melissa Shin |July 5, 2011

9 min read