RIP-Estate and Testamentary Trust Returns (VO)
The seminar provides a review of the issues faced when preparing trust filings for deceased taxpayers.
Watch a qualified CPA instructor teaching the course and access a copy of the same course material that is provided to attendees of an in-person session.
After registering for a Video on Demand course, CPA Saskatchewan will send you information on how to access the course within 2 business days.
Click HERE for more information on Video-On-Demand courses.
The focus is return preparation and related planning, including: review of relevant tax issues, engagement management, up-to-date source of relevant tax research, and reviewing and understanding CRA assessing practices. While the seminar will touch on some estate planning issues, these will generally focus on matters which can be addressed while preparing these returns. The seminar is divided between a review of technical tax issues related to such returns, and a series of practice case studies to illustrate the concepts and allow participants to apply their knowledge to practical filing situations commonly encountered in practice.
WHO WILL BENEFIT:
Practitioners who wish to expand their personal tax skills to encompass the preparation of estate and testamentary trust income tax returns. Professionals seeking more information on terminal filing preparation should take the workshop entitled RIP – Terminal Filing.
Participants taking this workshop will learn how to:
- establish a plan for approaching estate and testamentary trust filing assignments,
- identify and address tax compliance and planning matters associated with establishing a testamentary trust, as well as the subsequent distribution of property from it,
- identify the implications of death on the deceased’s estate (including an understanding of the concept of a graduated rate estate),
- identify and address compliance matters related to distributions from the estate and the various forms of post-distribution trusts,
- identify the various types of life-interest trusts and the compliance matters that arise as a result of the death of a settlor or beneficiary thereof,
- engage in estate accounting, and
- identify GST/HST issues that arise in the context of estates and testamentary trusts.
Knowledge of personal tax, and some experience preparing T3 trust tax returns is also recommended.
||Estimated Hours: Total - 7