Taxation of domestic trusts - Advanced
What is the difference between the types of e-learning activities?
- A webinar is a live training activity which you must attend at the date and time indicated. You may access the training platform in your online file 7 days before the date of the webinar. We strongly recommend that you log in to the platform before the date of the webinar and follow the instructions in step 3 of your training path beforehand in order to test your computers’ configuration and prevent any connexion problems during your training activity.
- Web conferences, web interviews, interactive training activities, webcasts and online training activities are recorded training activities. They can be accessed at all times after their availability date.
This training activity will cover tax issues surrounding family trusts, with a focus on complex tax planning opportunities and tax traps. Issues are discussed in both the inter vivos and testamentary context. Participants will benefit from attending if their objective is to move from a compliance-based trusts practice to an advisory-based practice. The course should allow participants who advise clients with trust structures, or who are considering trust structures, as to opportunities that may be available and to identify further issues in the course of preparing returns.
This seminar deals primarily with tax planning for trusts and potential traps and technical challenges that may be encountered in the course of tax planning. This seminar is highly relevant to any practitioner who has a client with a family trust in its structure, as it offers a comprehensive analysis of the amendments to the Income Tax Act regarding tax on split income that came into effect in 2018. Participants will learn how to identify potential issues with any current client structures in place and future client structures being considered and be able to propose solutions.
By the end of this training activity, participants will be able to:
- identify tax and estate planning opportunities for clients with trusts or considering a trust;
- analyze the computation of trust income;
- explain issues and opportunities to clients;
- identify instances where additional planning is required to avoid tax traps.
- Non-tax reasons for a trust
- Tax traps
- Tax planning
- Estate planning
- Determining trust income
- Testamentary spousal trusts
- 21-year rule
- Post-mortem tax planning
- Audit-proofing your client
This course would be a benefit practitioners who have taken the fundamentals course and wish to have a greater understanding of trust planning opportunities.