Dates and location
Pricing
Hours
Dates and location
Pricing
Hours
Description
This seminar covers tax issues surrounding family trusts, with a focus on complex tax planning opportunities and tax traps. Issues are discussed in both the inter vivos and testamentary context. The seminar will support participants to move from a compliance-based trusts practice to an advisory-based practice. The course highlights opportunities that may be available for trust structures as well as helps to identify issues with preparing returns.
This seminar covers tax planning for trusts and potential traps and technical challenges that may be encountered in the course of tax planning. This seminar offers a comprehensive analysis of the amendments to the Income Tax Act regarding tax on split income that came into effect in 2018, which is highly relevant to any practitioner who has a client with a family trust in its structure. Participants will learn how to identify potential issues with current client structures and future client structures being considered and be able to propose solutions.
Topics Include:
- Non-tax reasons for a trust
- Tax traps
- Tax planning
- Estate planning
- Determining trust income
- Testamentary spousal trusts
- 21-year rule
- AMT issues
- Post-mortem tax planning
- Audit-proofing your client
NOTE: This course description has been revised and reflects updates for 2025. If you have any questions, please contact pdevents@cpaontario.ca.
Key Takeaways
By the end of this course, participants should be able to:
- Identify tax and estate planning opportunities for clients with trusts or considering a trust.
- Analyze the computation of trust income.
- Explain issues and opportunities to clients.
- Identify instances where additional planning is required to avoid tax traps.
Who Will Benefit
Practitioners who have taken the fundamentals course and wish to have a greater understanding of trust planning opportunities.
Prerequisite(s)
Taxation of Domestic Trusts: Fundamentals or equivalent knowledge.
How to Access the Course
This course is a live webinar. You must attend the live course to receive verifiable CPD hours. We recommend you join five minutes prior to the scheduled starting time. To get the full experience of this interactive course, use a computer that has video and microphone capabilities.
Electronic material can be accessed one week prior to the course and should be downloaded in advance.
Registration, cancellation, withdrawal and all other CPA Ontario PD policies can be found here.
Speaker(s)
Babar Khan has over 13 years of experience working with the Big 4 and mid-size accounting firms in cross-border (US & Canadian) tax compliance & advisory area. He also teaches BBA and MBA courses at Canada’s Schulich School of Business. In addition, Babar has been involved in teaching with Chartered Professional Accountants of Ontario. He also sits on the board of a UK based EdTech company. He holds an MSc (Tax) from University of Oxford (UK), an MBA from Schulich School of Business and a BBA from University of Toronto. He is also a dual US and Canadian CPA.