Yisroel Sandel | Delsan Group

Can you trust your family trust?

Many business and property owners, rely on family trusts to achieve a variety of financial and tax goals. In fact, as Canadians accumulate business assets and personal wealth, these trusts have become so popular that the Canada Revenue Agency (CRA) is increasingly scrutinizing them. Unfortunately, trusts that aren’t properly established and maintained could be penalized […]

Planning for minimizing taxes on your estate

You pay taxes all your life. Unfortunately you’ll even have to pay taxes when you die. But there are ways to minimize those taxes, so why not take advantage of them? After all, who would you rather your money go to – the government or your loved ones? How to avoid making government an heir. […]

Why Estate Planning is crucial

Two men were lifelong friends and similar in many ways. Both were affluent, mid-fifties, healthy, with several children and grandchildren. Life was good. Then tragedy struck. Returning home from a golf weekend together, their car was involved in a serious auto accident. Neither of them survived. Both families were devastated. But one was far more […]

Why should I make a will?

A Will forms an essential part of your estate plan. It is a written document, “in Quebec, preferably done by a notary” that expresses your wishes for the distribution of your assets at your death. It will also deal with any debts of your estate ensuring that they are paid including any taxes owing. A […]

The power of compound interest

Albert Einstein once said that compound interest coupled with time was the most powerful force of all time. He was a pretty smart guy! Compound interest is really a math concept that shows the power of making interest not just on your principal but also on the interest. If you have $1000 and you make […]

A conversation every family Should have!

Although I am usually writing here myself, this time I came across an article from Bruce Sellery on MoneySense that I feel is worthy sharing with you. Here is almost the full article on MoneySense written by By Bruce Sellery. There are some questions we don’t want to ask our parents, but it’s important to […]

CRA New Rules Proposal – Private company tax planning – Passive investment proposal details

Here is an article from Manulife Financial on the discussion paper released by CRA on July 18th. It addresses the taxation of passive investment income in a CCPC. As Manulife puts it, this may be the most philosophically contentious part of the discussion paper. I will let you read and decide for yourself to see […]

Life Insurance Shares

An LI Share is typically a non-voting preferred share. LI Shares are a great tool for reducing Capital Gains Tax that arises on the death of a common stock shareholder. They are also commonly used for estate equalization purposes. Most of the demand for LI Shares is being driven by specialized accountants and lawyers who […]

U.S. Estate Tax For Canadians

U.S. citizens, are subject to U.S. estate tax on the fair market value of their worldwide assets on death. For 2016, the U.S. estate tax applies on the value of taxable estates in excess of U.S. $5,900,000 at a rate of 40%. It is also known that Canadians with U.S. vacation properties, commercial real estate […]

Succession planning tips for small-business owners

Thinking about handing over the reins to your business? These considerations will help you create an effective and tax-efficient succession plan. There are many benefits to being your own boss, both while you’re running your business and when you’re ready to step back from it. Because you’re in charge, you may have greater flexibility around […]