Administrative Policy
15 June 2021 Internal T.I. 2020-0867081I7 - Pension Benefit Received by Estate
After the Office of the Public Trustee for the Province (the “Trustee”) finalized the Estate of the deceased, received a CRA clearance...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(24) | up to the trustee to determine whether an amount received on the last day of the year was payable to the beneficiary on that date | 224 |
| Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(27) | s. 104(27) unavailable after estate ceased to be a GRE | 96 |
15 June 2021 STEP Roundtable Q. 14, 2021-0883041C6 - Extending the GRE 36-month period
An estate may be a graduated rate estate (“GRE”) a maximum of 36 months following the deceased’s death. Suppose that a lump sum from the...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(24) | pension benefit not distributed to beneficiary might nonetheless be payable in the year | 113 |
| Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(27) | s. 104(27) designation could not be made for a pension amount received after a trust ceased to be a GRE | 170 |
26 November 2020 STEP Roundtable Q. 13, 2020-0847201C6 - GRE & section 216 election
On the death of a non-resident individual, who had been filing T1 returns pursuant to the s. 216 rules regarding a Canadian rental property, that...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 216 - Subsection 216(1) | a non-resident estate (using GRE graduated rates), then its residuary beneficiaries, could file under s. 216 respecting a Canadian rental property | 292 |
| Tax Topics - Income Tax Act - 101-110 - Section 107 - Subsection 107(2) | s. 107(2) applicable to distribution by NR estate of Canadian rental property NR residuary beneficiaries | 197 |
8 February 2017 External T.I. 2017-0684481E5 - Status as a graduated rate estate
CRA considers that s. 118.1(5.1), which references a gift made by a GRE, can apply to a gift made by an estate before it has filed its first...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 118.1 - Subsection 118.1(5.1) | estate can make a gift qua GRE before it has filed its first return | 252 |
10 June 2016 STEP Roundtable Q. 3, 2016-0634891C6 - Estate beneficiary of IV Trust
An estate is a beneficiary of an inter vivos trust (which, for instance, is in turn the beneficiary of a life insurance policy). Would a payment...
10 June 2016 STEP Roundtable Q. 2, 2016-0634881C6 - GRE and multiple wills
If the deceased had a second will pertaining to foreign assets, and the domestic executors either do not know about this second will, or cannot...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - 101-110 - Section 108 - Subsection 108(1) - Testamentary Trust - Paragraph (b) | estate encompasses world property even if 2nd undisclosed will | 54 |
10 June 2016 STEP Roundtable Q. 1, 2016-0634871C6 - GREs and Testamentary Trusts
A deceased taxpayer’s will provides that the assets’ division into a spousal and children’s trust.
a) If assets held in the general estate...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 118.1 - Subsection 118.1(5.1) | estate must continue to satisfy the other GRE requirements following 36 mos. | 135 |
| Tax Topics - Income Tax Act - 101-110 - Section 108 - Subsection 108(1) - Testamentary Trust - Paragraph (b) | trusts on estate residue arise on death | 90 |
25 June 2015 External T.I. 2014-0553181E5 F - Graduated rate estate
Where the will of the deceased creates a spousal testamentary trust which receives a part or all of the deceased's property, can the spousal trust...
18 June 2015 STEP Roundtable Q. 2, 2015-0572091C6 - 2015 STEP Q2 Meaning of Graduated Rate Estates
(see also summary of initial response at 19 June 2015 STEP Roundtable, oral Q.2(a))
If an estate for a deceased who passed away after 2015 is...
Paragraph (a)
See Also
Wenikajtys (Estate) v. The Queen, 2021 CCI 93 (Informal Procedure)
The taxpayer was an estate of an individual who died at age 56 in January 2014. The estate was entitled to receive a lump sum from a pension plan...
Articles
Elie Roth, Tim Youdan, Chris Anderson, Kim Brown, "Classification of Trusts for Income Tax Purposes", Chapter 2 of Canadian Taxation of Trusts (Canadian Tax Foundation), 2016.
GRE may terminate before 36 mos. (p. 62)
It appears that the 36-month period is an upper limit; therefore, an estate ceases to be a graduated rate...
Paragraph (c)
Administrative Policy
7 June 2019 STEP Roundtable Q. 10, 2019-0809651C6 - Non-resident Estate as GRE
The U.S.-resident estate of a U.S.-resident individual who died holding real estate in Canada and did not have a social insurance number...
Paragraph (d)
Administrative Policy
7 June 2019 STEP Roundtable Q. 9, 2019-0798631C6 - Estate immigrating to Canada
An estate initially was not resident in Canada but 18 months later, on January 1, 2018, it became resident in Canada as the result of the...
May 2016 Alberta CPA Roundtable, Q.18
Respecting the requirement for an estate to designate itself, in its first T3 return of income for the first taxation year after 2015, as the...