Guest Posts

The following blog by Gerald Prenick, CA, CPCA, provides interesting and insightful articles on Retirement:

Retirement Review

Barry S. Corbin writes on changes to Estate Administration Tax in the OBA Deadbeat Newsletter, May 2011, Vol. 29, No. 4.

Brief excerpt:

It has been 19 years since Ontario’s probate fees — the forerunner of estate administration tax (EAT) – were effectively tripled. Since that time, a generation of Ontarians has had ample opportunity to implement a variety of planning techniques intended to minimize EAT exposure on death — with a significant adverse impact on EAT revenues.

However, the proposals contained in Ontario’s 2011 Budget suggest that the provincial government believes the disappointing EAT revenues are attributable to the propensity of applicants for a certificate of appointment of estate trustee (a “certificate”) to engage in EAT evasion – by lying under oath when declaring the value of the estate. How else to explain the lengths to which the government has declared its intention to go to boost the EAT revenue figures?

Click to download the full article on the OBA Website