Estate Planning or Succession Planning
This is done to ensures proper distribution of your assets to the beneficiaries and saving huge amount of potential taxes. This planning is a complex matter. We at H&T Accounting Service can help you to:
- Prepare Trust Income Tax (TIT) returns
- Prepare Final Returns of deceased persons
- Determine how much taxes could be saved by getting the trust designated Gradual Rated Estate (GRE)
- Ensure the Trust is structured to minimize damage from the new powerful Tax On Split Income (TOSI)
- Do all necessary accounting of the trust and prepare reports for the satisfaction of beneficiaries
- Procure from CRA a Tax Account Number (TAN) for your trust
- Procure from CRA the necessary Clearance Certificates
- Plan tax related terms for a trust you want to setup
- Plan transactions to eliminate triggering of Double Taxation.
