What is the Importance of a Family Trust? Find out More

What is a family trust? The Family Trust. Family Trusts are becoming increasingly popular among people who wish to manage their assets and protect their property, and are mainly used to pass assets from one family member to another or other people who stand to benefit from the assets. The settlor is the owner of…

Foreign Reporting Requirements in Canada

Recently, International Consortium of Investigative Journalists’ (ICIJ) released an investigative report on the use of secret offshore accounts in Panama, for the purpose of tax avoidance by wealthy individuals, limited enterprises, limited partnership, and trust companies, around the globe. With progressive insight on the issue, many taxpayers have started paying attention to the development made…

Learn More About the Family Tax Cut – Q&A

What is the new Family Tax Cut? All about the new family tax cut . Under Canada’s tax system, federal personal income tax rates increase with the level of taxable income of the individual. As a result, a couple in which one individual has a higher taxable income than the other often pays more federal…

The Family Tax Cut

The Family Tax Cut The Government of Canada is proposing a new Family Tax Cut of up to $2,000 for couples with children under the age of 18, effective for the 2014 tax year. The proposed Family Tax Cut will take the form of a federal non-refundable tax credit that will allow the higher-income spouse…