The Tax Time Bomb Lurking in Your Family Trust Imagine this: In 2004, a successful entrepreneur creates a family trust to hold shares of their private corporation. Over the years, those shares appreciate substantially in value. Everything seems to be…
The recent turmoil surrounding the Canada Revenue Agency's (CRA) bare trust reporting requirement has highlighted significant issues in tax administration and policy implementation. While the CRA's last-minute decision to pause the reporting requirement just days before the deadline has drawn…
A trust allows you to separate control and management of assets from its owners. This separation allows for distinct advantages that will result from the details contained within the trust deed. There are several types of trusts and legal scholars…
By Nizam Shajani, CPA, CA, MBA October 29, 2020 The management of another person’s personal affairs is a sacred trust that is backed by legal obligations to the guardian or trustee. The Trustee has an obligation to keep trust property…