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Classification of Trusts 1. Testamentary Trusts The Income Tax Act in Canada defines a testamentary trust as a trust or estate that is formed consequent to the death of a tax-paying …
Trusts and Estates: Different Types of Trusts in Canada Read More
Rates of Tax Under s. 117, Income Tax Act in Canada (the “ITA”), a testamentary trust is subject to tax, at the same graduated rates as an individual, while the …
The Taxation of Trusts: Understanding Rates of Tax Read More
Taxation of Trusts The taxation of trusts and their beneficiaries are dealt with under Sections 104 to 108, inclusive, of the ITA. The fundamental principle with respect to taxation of …
TAXATION AT DEATH AND PERSONAL TAX PLANNING Extension of Time for Filing Returns Along with the extended deadline for the filing of the basic terminal return, there is a special …
Filing Tax Returns for a Deceased Person in Canada Read More
Administration and probate In Canada, when the estate of a member of the First Nation falls within the jurisdiction of the Indian Act, the procedures for administration and probate are …
