Estate Planning or Succession Planning

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.