The Resource Estate planning: US-resident beneficiaries of a Canadian estate - part 1
Estate planning: US-resident beneficiaries of a Canadian estate - part 1
Resource Information
The item Estate planning: US-resident beneficiaries of a Canadian estate - part 1 represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in International Bureau of Fiscal Documentation.This item is available to borrow from 1 library branch.
Resource Information
The item Estate planning: US-resident beneficiaries of a Canadian estate - part 1 represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in International Bureau of Fiscal Documentation.
This item is available to borrow from 1 library branch.
- Summary
- Estate planning offers taxpayers a means of distributing their assets, subsequent to death, in a way that minimizes tax liabilities for both the deceased and their beneficiaries. Serious obstacles can arise if the estate has non-resident beneficiaries and a significant portion of its value is derived from shares of a Canadian investment corporation. The authors of this two-part article examine Canadian and US tax implications for a Canadian resident who wishes to bequeath shares of a Canadian investment corporation to beneficiaries that include both Canadian and US residents. In part 1, the authors review how the residence of an estate is determined pursuant to Canadian rules and US tax rules, the application of US anti-deferral rules, and the resulting unexpected tax liabilities for US-resident beneficiaries. In part 2, they will discuss the use of unlimited liability corporations and other planning strategies that may be used to mitigate the overall tax burden on the deceased and their beneficiaries
- Language
- eng
- Label
- Estate planning: US-resident beneficiaries of a Canadian estate - part 1
- Title
- Estate planning: US-resident beneficiaries of a Canadian estate - part 1
- Language
- eng
- Summary
- Estate planning offers taxpayers a means of distributing their assets, subsequent to death, in a way that minimizes tax liabilities for both the deceased and their beneficiaries. Serious obstacles can arise if the estate has non-resident beneficiaries and a significant portion of its value is derived from shares of a Canadian investment corporation. The authors of this two-part article examine Canadian and US tax implications for a Canadian resident who wishes to bequeath shares of a Canadian investment corporation to beneficiaries that include both Canadian and US residents. In part 1, the authors review how the residence of an estate is determined pursuant to Canadian rules and US tax rules, the application of US anti-deferral rules, and the resulting unexpected tax liabilities for US-resident beneficiaries. In part 2, they will discuss the use of unlimited liability corporations and other planning strategies that may be used to mitigate the overall tax burden on the deceased and their beneficiaries
- Citation source
- In: Canadian tax journal = Revue fiscale canadienne. - Toronto. - Vol. 62 (2014),
- http://library.link/vocab/creatorName
-
- Ouellette, M
- Warner, J
- Geographic coverage
- North America
- Language note
- English
- http://library.link/vocab/subjectName
-
- estate planning
- CFC
- PFIC
- residence
- non-resident
- Subpart F income
- foreign tax credit
- anti-avoidance
- Label
- Estate planning: US-resident beneficiaries of a Canadian estate - part 1
- Label
- Estate planning: US-resident beneficiaries of a Canadian estate - part 1
Embed
Settings
Select options that apply then copy and paste the RDF/HTML data fragment to include in your application
Embed this data in a secure (HTTPS) page:
Layout options:
Include data citation:
<div class="citation" vocab="http://schema.org/"><i class="fa fa-external-link-square fa-fw"></i> Data from <span resource="http://link.library.ibfd.org/portal/Estate-planning-US-resident-beneficiaries-of-a/BAWrUi_Fb44/" typeof="Book http://bibfra.me/vocab/lite/Item"><span property="name http://bibfra.me/vocab/lite/label"><a href="http://link.library.ibfd.org/portal/Estate-planning-US-resident-beneficiaries-of-a/BAWrUi_Fb44/">Estate planning: US-resident beneficiaries of a Canadian estate - part 1</a></span> - <span property="potentialAction" typeOf="OrganizeAction"><span property="agent" typeof="LibrarySystem http://library.link/vocab/LibrarySystem" resource="http://link.library.ibfd.org/"><span property="name http://bibfra.me/vocab/lite/label"><a property="url" href="http://link.library.ibfd.org/">International Bureau of Fiscal Documentation</a></span></span></span></span></div>
Note: Adjust the width and height settings defined in the RDF/HTML code fragment to best match your requirements
Preview
Cite Data - Experimental
Data Citation of the Item Estate planning: US-resident beneficiaries of a Canadian estate - part 1
Copy and paste the following RDF/HTML data fragment to cite this resource
<div class="citation" vocab="http://schema.org/"><i class="fa fa-external-link-square fa-fw"></i> Data from <span resource="http://link.library.ibfd.org/portal/Estate-planning-US-resident-beneficiaries-of-a/BAWrUi_Fb44/" typeof="Book http://bibfra.me/vocab/lite/Item"><span property="name http://bibfra.me/vocab/lite/label"><a href="http://link.library.ibfd.org/portal/Estate-planning-US-resident-beneficiaries-of-a/BAWrUi_Fb44/">Estate planning: US-resident beneficiaries of a Canadian estate - part 1</a></span> - <span property="potentialAction" typeOf="OrganizeAction"><span property="agent" typeof="LibrarySystem http://library.link/vocab/LibrarySystem" resource="http://link.library.ibfd.org/"><span property="name http://bibfra.me/vocab/lite/label"><a property="url" href="http://link.library.ibfd.org/">International Bureau of Fiscal Documentation</a></span></span></span></span></div>
