Dealing with Non-Resident Trusts and Canadian Trusts with Non-Resident Beneficiaries- PRE-ORDER

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Non-resident trusts continue to be an available and valid planning device for high net worth Canadians. 

Non-resident trusts continue to be an available and valid planning device for high net worth Canadians. All the while, in today's highly globalized world, an increasing number of domestic trusts and estates count non-residents of Canada among their beneficiaries. The practical Canadian tax implications of non-resident trusts with ties to Canada, and Canadian trusts with non-resident beneficiaries, are quite often missed or simply misunderstood.

Join Rahul Sharma, a partner with Miller Thomson, for some useful guidance on the use of non-resident trusts, and how to plan with resident trusts when a beneficiary is non-resident. This includes an overview of the interpretation of residency in Canada, reporting obligations and planning tips.

More specifically, topics covered will include:

  • A general review of section 94 of the Income Tax Act (Canada) and how it may apply to trusts not resident in Canada
  • Deemed Canadian residency vs. factual Canadian residency - the distinction and its practical implications
  • Tax reporting obligations for deemed resident trusts
  • Tax and reporting obligations for Canadian-resident beneficiaries of non-resident trusts, including deemed resident trusts
  • Canadian tax planning for non-resident trusts - tips and how to avoid common traps
  • Canadian trusts and estates with non-resident beneficiaries - common tax concerns and how to deal with them
  • The migration of trusts and beneficiaries - how to deal with global families

Target Audience

This webinar will be of most interest to tax practitioners, including tax accountants as lawyers (small and medium-sized firms) as well as financial planners and insurance advisors.

Webinar Length: 2 hours

Professional Development Credits

CCH Canadian professional development programs are designed to meet the continuing education requirements of a variety of professional associations. These requirements do vary by association and region. Please consult your provincial association to ensure this webinar meets the continuing professional development standards for your specific situation.

    This webinar is being presented by Rahul Sharma of Miller Thomson LLP:

    Rahul Sharma is a partner in Miller Thomson LLP's Toronto private client services group. He advises Canadian and international clients on a variety of tax, trust, and estate planning matters. Rahul is experienced with cross-border and international trust, tax and estate matters and matters involving offshore or non-resident trusts with ties to Canada. Rahul also regularly counsels clients in the areas of corporate income tax and business succession planning.

    Rahul is the co-author of chapters on tax and estate planning-related topics. He is a co-editor of Thomson Reuters? Taxes and Wealth Management publication and the assistant editor of Miller Thomson on Estate Planning, a comprehensive guide to tax and estate planning in Canada. Rahul is also the author of several papers and articles on tax, trust, and Canadian estate matters and a regular presenter on Canadian and cross-border tax and estate planning topics, including as a lecturer for the advanced estate planning course at York University?s Osgoode Hall Law School.

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    Format Webinar on demand