Questions? Call 416-367-4222

The Canada Revenue Agency (the Canadian income tax department) has announced that effective May 25, 2004 it will no longer accept a single purpose Canadian corporation that would previously been set up to hold United States personal use real property with the objective of avoiding US estate tax on death of the individual. The previous policy will continue to apply to arrangements in place on May 25, 2004.

Disclaimer:

"This article provides information of a general nature only. It is only current at the posting date. It is not updated and it may no longer be current. It does not provide legal advice nor can it or should it be relied upon. All tax situations are specific to their facts and will differ from the situations in the articles. If you have specific legal questions you should consult a lawyer."

Get your CRA tax issue solved


Address: Rotfleisch & Samulovitch P.C.
2822 Danforth Avenue Toronto, Ontario M4C 1M1

Single Purpose Canadian Corporation for US Real Estate
Qualifying Disability Trusts – Canadian Income Tax – Toronto Tax Lawyer Guide
A Canadian Tax Lawyer’s Scary Taxes for Halloween
New Trust Tax Reporting Rules: Toronto Tax Lawyer Analysis
New Trust Tax Reporting Rules: Toronto Tax Lawyer Analysis
Bare Trusts Tax Consequences: Canadian Tax Lawyer Guidance
Bare Trusts Tax Consequences: Canadian Tax Lawyer Guidance
ontario college of dentists
Taxation of Testamentary Trusts – Canadian Tax Lawyer Analysis
Infamous Canadian Money Laundering Schemes
Henson Trusts: Supreme Court Clarifies and Approves
CRA’s Collection Tax Debts From Third-Parties