Real Estate Sale - Income or Capital Gain

By Colin Younker, FCPA
MRSB Chartered Accountants Inc.

Real estate transactions probably produce the majority of disputes as to whether a gain or loss on a sale is capital in nature or should be treated as ordinary income or loss. There is no provision in the Income Tax Act which describes the circumstances in which gains or losses from the sale of real estate are determined to be either income or capital. ...

Should You Create Trusts in your Will?
(An accountant's perspective)

By Dana Rittenhouse, TEP, CEA
Estates and Trusts Manager, KRP LLP

The short answer is: IT DEPENDS.

Do you have concerns about your beneficiary's(ies') ability to manage money? About their spouse? About their potential creditors? About them re-marrying? If yes, then consider using a testamentary trust created by your Will. The benefits of using a trust include the ability to craft instructions while you are able to do so, which will ensure your assets...

Flow Through Shares

By Jeffrey Miller, FCPA, FCA, LPA, CFE, TEP
Partner GGFL

Flow-through shares are stocks that can only be purchased directly from Canadian oil and mineral exploration companies, usually at a slight premium. This article will only address the acquisition of these shares by an individual and not by a corporation. In addition, this article assumes that the company issuing the flow-through shares will use the invested money to fund the exploration for resources and receive a tax deduction for these expenditures classified as Canadian Exploration Expenses (CEE). ...