Update on Recent Changes Impacting the Taxation of Trusts

Testamentary and inter vivos trusts have long been a useful tool in tax and estate planning. Over the past few years there have been a number of changes that have altered the way we plan using trusts, and this is an area that continues to be impacted.

Testamentary and inter vivos trusts have long been a useful tool in tax and estate planning.  Over the past few years there have been a number of changes that have altered the way we plan using trusts, and this is an area that continues to be impacted. Accordingly it is important to stay up to date on the most recent events influencing trust planning.

 

Join Caroline Rhéaume for an insightful analysis of the most recent events impacting tax and estate planning strategies using trusts.  This webinar will explore recent legislative changes (such as TOSI), technical interpretations and jurisprudence.  Caroline will also provide guidance on how these changes affect estate planning and the use of testamentary trusts.

More specifically, the webinar will review the following:

1. Recent tax changes

a. Tax on split income (TOSI)

i. Meaning of excluded business

ii. Excluded shares and trusts

iii. Excluded shares and holding companies

iv. How to apply the “reasonable return” exception when money borrowed to fund a start-up business is paid back

v. Continuity rules following the death of a taxpayer who was not subject to TOSI

b. New reporting rules

i. New schedule to report beneficial ownership

ii. New T-5 requirement

2. Recent technical interpretations dealing with trusts (other than TOSI)

a. Life insurance and spousal testamentary trusts

b. Transferring assets from a trust to a Canadian company with non-resident shareholders to avoid the 21-year deemed disposition

c. Transfer of a capital interest in a trust from a non-resident beneficiary to a Canadian corporation to avoid immediate tax

d. The corporate attribution rule and its application to trusts

3. Court cases dealing with trusts

a. Laplante v. The Queen – Enhanced capital gains exemption

b. Moules Industries inc. v. the Queen – associated corporations and trusts

Target Audience

This webinar will be of most interest to tax practitioners, lawyers and accountants (practicing independently or in small to medium sized firms), but may also be useful to financial planners working in financial institutions or wealth management firms, and other service professionals.

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 Includes:

  • 30 days to review the webinar recording
  • Print version of the presentation slides

 

 

BIOGRAPHY

This webinar is being presented by Caroline Rhéaume LL.L., M.fisc.,. TEP:

 Caroline Rhéaume has her own firm and is specialized in Canadian and American tax and estate tax planning, the use of trusts, asset protection, and how to structure a family office. She provides tax consulting services to high-net-worth individuals and families, and athletes, and oversees the coordination and administration of these services across Canada and the United States. Caroline gained her international expertise working with multinational clients of all sizes.

Caroline Rhéaume is the author of the bestsellers Utilisation des fiducies en planification fiscale et financière,  Stratégies the planification utilisant des fiducies, Stratégies de transmission du patrimoine and Strategic use of trusts in tax and estate planning, four books published by CCH Wolters Kluwer. In addition to implementing strategies proposed in her books, Ms Rhéaume frequently presents at conferences for various associations, groups of professionals, and business people, and regularly writes tax articles for CCH Wolters Kluwer.