Canada: New estate and trust tax regime

Canada: New estate and trust tax regime

Canada’s Department of Finance released draft legislation that would provide relief for trusts and estates affected by the "graduated rate estate" rules.

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The draft legislation, released 15 January 2016, includes greater flexibility for a deceased’s estate to claim charitable donations and restores the tax treatment of deemed capital gains for a life interest trust back to the tax rules that existed before 1 January 2016. The deadline to provide comments on the draft legislation is 15 February 2016.

 

Read a January 2016 report [PDF 51 KB] prepared by the KPMG member firm in Canada: New Estate and Trust Tax Regime — Welcome Relief Announced

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