Letter of Wishes: How to assist trustees in the distribution of trust
Stacey Bothwell looks into what can be done by Parents and business owners to establish a letter of wishes, designating Trustees and beneficiaries upon unexpected death.I recently had the opportunity to draft a letter of wishes in the context of the reorganization of a corporate group and establishment of a family trust and wills. In...
Continue reading the post titled Letter of Wishes: How to assist trustees in the distribution of trustProposed legislation will end preferential tax treatment for Testamentary trusts by 1 January 2016
In October 2014, the Federal Government tabled a Notice of Ways and Means Motion to implement changes to the Income Tax Act (‘ITA’) proposed in the 2014 Federal Budget. The government first disclosed its concern about perceived abuses of the tax treatment of testamentary trusts in the 2013 Federal Budget. The proposed changes affect testamentary...
Continue reading the post titled Proposed legislation will end preferential tax treatment for Testamentary trusts by 1 January 2016Bizarre rules on Record of Site Condition
Here’s another bizarre rule about Records of Site Condition for contaminated sites where land-uses change:
Continue reading the post titled Bizarre rules on Record of Site ConditionOstrander Point, wind and birds: is it different?
There definitely are places where renewable energy projects should not go. The Prince Edward County Field Naturalists wants me, and you, to know why they think Ostrander Point is one of them, and why wind turbines should not be built there, of all places. This is not about the nocebo effect, it’s about birds. As...
Continue reading the post titled Ostrander Point, wind and birds: is it different?Waste Excellence, $25,000 fine, forbidden partners at waste site
Yesterday, we reported the $20,000 fine imposed on Keele North Recycling Inc., relating to breaches of its Environmental Compliance Approval for its waste transfer and processing site at 10525 Keele Street. This troubled site was previously operated by Robert Sansone, 310 Waste and related companies and individuals, who were convicted of responsibility for a massive garbage fire...
Continue reading the post titled Waste Excellence, $25,000 fine, forbidden partners at waste siteContaminated sites: which cleanup standards?
More stringent cleanup standards for contaminated sites will come into effect July 1, 2011, under 2009 amendments to Regulation 153/04. Some property owners with ongoing cleanups may prefer to use the old numbers, i.e. the “March 9, 2004 Soil, Ground Water and Sediment Standards” (“2004 standards”) to obtain a record of site condition after July...
Continue reading the post titled Contaminated sites: which cleanup standards?Lifetime Benefit Trusts
On death, RRSPs and RRIFs belonging to the deceased are deemed to have been included in the deceased income immediately before death and are taxed on their full market value as of the date of death. Created by s. 60.011 of the Income Tax Act, a Lifetime Benefit Trust (“LBT”) allows the rollover of an...
Continue reading the post titled Lifetime Benefit TrustsHow Canadian is our food?
Unless you buy direct from a farmer, how do you know which food is Canadian? Is it enough to see Canada or a maple leaf on the label?
Continue reading the post titled How Canadian is our food?Lenders beware: post-discharge obligations for a borrower’s HST/GST debt
Lenders, like any businesses, prefer certainty. In many ways the real property lending industry is built around trying to be as certain as possible before a loan is advanced. Does a borrower own their property? How much is that property worth? How much does a borrower make in a year? Can the borrower pay the...
Continue reading the post titled Lenders beware: post-discharge obligations for a borrower’s HST/GST debtWill Environmental Tribunal enforce public trust in water?
Ecojustice has intervened in an appeal before Ontario’s Environmental Review Tribunal, hoping that they will enforce a public trust in water resources. Nestle Canada Inc. (“Nestle”) runs Ontario’s largest water bottling operation. They pump groundwater from two different sets of wells in the Guelph area. Each well requires a Permit to Take Water (“PTTW”) from the...
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