Not everyone understands what it is that lawyers do or the technicalities that can sometimes impose themselves on donations to charities. Unfortunately, sometimes it takes the case of a donation gone wrong to illustrate some of the complexities that can accompany large donations. Once such instance recently arose in the Tax Court in the case […]
NQS, GRE and the ITA – Three Letters, Two Concepts, and One Complicated Issue
By Adam Aptowitzer Over a year ago then Finance Minister Jim Flaherty announced that there would be major changes in the way Canadians would be taxed at death. The new system created what was called a Graduated Rate Estate (a “GRE”) which, amongst other things, entitles the estate of a taxpayer to the graduated rates […]