Taxation of Domestic Trusts - Advanced (VO)
This seminar covers tax issues surrounding family trusts, with a focus on complex tax planning opportunities and tax traps. Issues are discussed in both the inter vivos and testamentary context. The seminar will support participants to move from a compliance-based trusts practice to an advisory-based practice. The course highlights opportunities that may be available for trust structures as well as helps to identify issues with preparing returns.
COURSE DESCRIPTION:
This seminar covers tax planning for trusts and potential traps and technical challenges that may be encountered in the course of tax planning. This seminar offers a comprehensive analysis of the amendments to the Income Tax Act regarding tax on split income that came into effect in 2018, which is highly relevant to any practitioner who has a client with a family trust in its structure. Participants will learn how to identify potential
issues with current client structures and future client structures being considered and be able to propose solutions.
LEARNING OBJECTIVES:
By the end of this course, participants should be able to:
- Identify tax and estate planning opportunities for clients with trusts or considering a trust
- Describe the computation of trust income
- Describe issues and opportunities to clients
- Identify instances where additional planning is required to avoid tax traps
CONTENT
Topics include:
- Non-tax reasons for a trust
- Tax traps
- Tax planning
- Estate planning
- Determining trust income
- Testamentary spousal trusts
- 21-year rule
- Post-mortem tax planning
- Audit-proofing your client
PREREQUISITES:
Taxation of Domestic Trusts – Fundamentals or equivalent knowledge.
APPLICABLE FOR:
Practitioners who have taken the fundamentals course and wish to have a greater understanding of trust planning opportunities.
WHAT TO EXPECT:
- Two emails will be sent from CPA Saskatchewan following your registration: one to confirm your order and one including information on how to access the course through PD Connect.
- Once sent, these emails can also be found in the Communication tab of your CPA Saskatchewan Member Portal.
- Watch a qualified CPA instructor and receive a copy of the same course material that is provided to attendees of the in-person session.
- This course is designed for participants to view while following along with the course material provided.
- This self-study course allows you to save your progress and continue later.
- A certificate of completion will be provided upon successful completion of the course and quiz.
- Registration for this course is open until March 31, 2025, and access will be available for 180 days after registration, up to April 30, 2025.