This course provides accountants who prepare trust returns, who advise clients with trust structures or who are considering trust structures with a functional knowledge of the applicable tax rules and the ability to issue-spot potential problems that may require specialist assistance. Participants will develop better knowledge of the rights and duties of settlors, trustees and beneficiaries. The inter vivos and testamentary trust context will both be discussed.

This seminar will provide an overview of trust relationships, how to complete basic returns for trusts and their beneficiaries, and how to identify and communicate basic tax planning benefits and opportunities that involve family trusts. This course reviews the basic tenants of trust law, the provisions of the Income Tax Act, case law and CRA administrative positions that are fundamental to the taxation of trusts. Participants who would benefit from attending are accountants of any experience level who have a working knowledge of personal income tax rules and whose clients include estates, trusts or high net worth individuals.

Topics Include:

• Recognizing the need for a trust structure
• Overview of trust law
• Design of a trust
• Types of trusts
• Taxation of trusts
• Taxation of beneficiaries
• Trusts and estates
• Planning opportunities
• Administration

NOTE: This course description has been revised and reflects updates for 2024. If you have any questions, please contact pdevents@cpaontario.ca.

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