Confiscation Tax (66.67% inclusion of capital gains) With Trudeau’s resignation, the Confiscation Tax may be gone. There were amendments to the capital gains taxes to be implemented effective 24 June …
Accountant’s Comments on Tax Returns
If you sold your home in 2023, you must report the sale on your tax return, even if it was your principal residence for the whole time you owned it. …
Estate Planning: All to the Children
Question: If someone has 3 children and he wants to give equal share to all three of them and he doesn’t believe in drafting his Will . Can you please …
Estate Planning: 30 Year Marriage
Question: The husband and wife have been married for more than 30 years and have 4 adult children. They co-own their primary residence and two condo investments. Can one of …
Inheriting the Parent’s House
Question: If you inherit a house from parents in Canada through a Will, how is it taxed as a primary residence? What are the pros & cons of putting it …
Alzheimer’s disease: Wills and POA’s
Question: I have a client who wants to sell her home. Her husband has a recent Alzheimer’s diagnosis. His new doctor won’t write a letter for the lawyer to give …
Execution of a Power of Attorney
Execution of a Power of Attorney (1 or 2, or Both) Question: If there are 2 persons on power of attorney and the document states that it is “jointly and …
New Capital Gains Tax Inclusion
Let’s consider the implications of the new capital gains tax inclusion. Scenario: Muskoka Cottage An elderly woman owns a cottage in Muskoka. She inherited it from her parents. Her principal …
Family Estate Planning: Brother and Sister at Odds
Question: Daughter has a Power of Attorney (POA) over her mother. She just found out her brother has put himself on title with the mother on her house a few …
Power of Attorney For Personal Care
This is the Form for the Power of Attorney for Personal Care published by the Province: Power of Attorney for Personal Care (Made in accordance with the Substitute Decisions Act, …