Designed for accountants and other professionals involved with trusts
Tax Planning Using Family Trusts is both a self-study course and a comprehensive reference source. This unique resource presents the concepts behind the taxation of trusts in Canada and demonstrates their uses in tax planning through discussion as well as its methodology, including:
- practical Practice Tips
- self-study questions in Concepts in Practice
- real world situations in Tax Planning Strategies, and
- challenging Case Studies.
The narrative and the methodology are designed to help you learn about the common uses of family trusts, the tax issues that can arise, and some proven methods for dealing with them. The materials could also be readily adapted to form the basis of a course.
The text examines the taxation of trusts from the point of view of how a trust can be used as a tax planning vehicle and discusses the issues from the perspective of the professional advising clients. Real world situations, most of which involve the use of trusts in personal family situations, are provided in the questions and case studies. These both demonstrate and explain some practical planning and implementation considerations.
While this publication does not focus on the detailed annual compliance rules of completing a trust tax return, it does review these compliance rules in general and addresses specific problem areas that can be encountered.
Tax Planning Using Family Trusts includes discussion of:
- The important tax and estate planning implications of alter ego trusts and joint spousal/common-law partner trusts
- The stop loss rules on a disposition of a share by a trust
- Investment powers in provincial legislation
- Recent developments in family law concerning trusts, and
- How constructive trusts are used in family law situations.
The updated narrative and the methodology will help you learn about the common uses of family trusts, the tax issues that can arise, and some proven methods for dealing with them. Featured practical Practice Tips, self-study questions in Concepts in Practice, real world situations in Tax Planning Strategies, and challenging Case Studies and solutions help you confirm your comprehension of the tax planning concepts presented throughout the book.
Self-study course and information resource
Tax Planning Using Family Trusts is designed for accountants and other professionals involved with trusts. A self-study course and comprehensive information resource, the publication could also be readily adapted to form the basis of an in-house course.
Client Booklet – Compliments of Your Firm
The third edition of this popular client booklet Family Trust Guide will help your clients more knowledgeably consider the tax and estate planning benefits of creating a family trust and be better prepared to discuss their plans with you, their tax advisor. With 80 pages of discussion in straightforward language, this valuable marketing tool is available in packages of 5, 10 or 25 booklets. Attach your business card or personalized label on the distinctive “Compliments of” space on the back cover as a reminder of your value-added services.
Publication Date: 2011