Death and taxes
Article Abstract:
Specific tax provisions have to be considered when a taxpayer, who holds a registered retirement savings plan (RRSP), dies. For instance, under Income Tax Act subsection 146(8), the dead person's last income tax return must include the fair market value of property with a matured or unmatured RRSP. However, it may be exempted from such provision if the spouse or a dependent child or grandchild are the deceased's beneficiaries. Further, the amounts may be effectively distributed to beneficiaries if the legal representative can administer the tax payments efficiently.
Publication Name: CA Magazine
Subject: Business
ISSN: 0317-6878
Year: 1998
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Rough waters offshore
Article Abstract:
Issues are presented concerning the revision of the legislation affecting foreign investment by the Department of Finance in 1999. The draft proposals, which will replace the Income Tax Act Section 94, are discussed.
Publication Name: CA Magazine
Subject: Business
ISSN: 0317-6878
Year: 2000
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Penalty shots
Article Abstract:
Issues are presented concerning the disquiet voiced by the Canadian Institute of Chartered Accountants and the Canadian Bar Association over changes to the Income Tax Act relating to third party taxation services.
Publication Name: CA Magazine
Subject: Business
ISSN: 0317-6878
Year: 2001
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