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Death of a Taxpayer (IV)
Death of a Taxpayer, Part Four
Brian Quinlan / Canadian MoneySaver
This is the final article in a series of four presenting the income tax implications of the death of a taxpayer.
Part 1: The tax implications of death
Part 2: Specific rules that can impact the filing of final personal tax returns
Part 3: Mandatory and optional tax returns for a deceased taxpayer
Part 4: Strategies to adopt while alive to minimize the income tax due on death
Early inheritances
The less wealth an individual has at death, the fewer taxes they have to tax at death. If the plan is to pass assets to children, why not do it now? The kids may prefer the money now rather than later — especially if they have a mortgage. Where cash is given to an adult child, there are generally no tax implications, regardless how the money is used. (Canada does not have a gift tax.) If securities are sold to fund the gift, capital gains can result that are subject to tax in the year of sale. However, this tax may be less than the tax that would be due on the individual's death.
If parents worry about how the adult child will use the money — or perhaps have family law concerns — they can make an interest-free loan to an adult child rather than an outright gift. This offers the parent the ability to "call" the loan if need be. The loan can be forgiven in the parent's will with no tax implications to the parent or adult child.
An individual can negotiate with their employer to pay a $10,000 death benefit on passing (whether or not still employed). The surviving spouse (which, for tax purposes, includes a common-law spouse) can receive this tax-free. If the death benefit is paid to others, the $10,000 exempt portion is prorated among the recipients.
Pass assets to a surviving spouse — or a spousal testamentary trust
Where non-RRSP/RRIF-held assets are passed on death to a surviving spouse — or to a spousal testamentary trust — the accrued gain (and/or recapture) is not triggered as a result of the deemed disposition rule.
The use of a testamentary spousal trust can be advantageous because the trustees of the trust can assist the surviving spouse in managing the inherited assets.
Testamentary trusts — and the new tax rules effective for 2016 — are discussed at the end of this article.
RRSPs and RRIFs
When RRSPs and RRIFs are passed to a surviving spouse, no tax is payable on the death of the first spouse. The financial institutions holding the RRSPs and RRIFs require written documentation that the spouse is the beneficiary of these plans.
If, on death, the deceased has unused RRSP contribution room — and a spouse that is under 72 — the estate can make a post-death spousal RRSP contribution and claim a tax deduction on the final personal tax return. The contribution must be made no later than the 60th day of the year that follows the year of death.
If the estate is concerned about having a large tax liability on death, it can withdraw "extra" from the RRSP or RRIF to increase the annual taxable income and tax liability. This works only if the deceased is not currently subject to tax in the top bracket (taxable income over $138,586 for 2015 federal income tax). The extra tax paid may be less than the tax paid on death where a significant sum may be subject to tax in the top tax bracket.
Where a spouse is the successor holder of a TFSA, he or she will not be subject to tax on the income earned in the plan after the death of the first spouse.
Capital gains exemption
Individuals owning shares in a qualifying small business or farm or fishing property can take advantage of the exemption now by locking in — or crystallizing — the accrued capital gain. As noted in Part 2 of this series, the maximum capital gain exemption is now $813,600 (2015) for shares of a qualifying small business and $1,000,000 for qualified farm or fishing property.
Once this is undertaken the individual no longer needs to worry about maintaining the investment so that it continues to qualify for the exemption or the tax rules being changed.
If an individual does not make use of the capital gains exemption before or on death, it is lost. It cannot be passed to a beneficiary.
Locking in death tax liability
As an asset grows in value, so too does the accruing tax liability associated with the asset. If an individual exchanges a growth asset (an investment or real estate portfolio, shares of a family business, etc.) for a non-growth asset (such as a preferred share of a holding corporation), the tax faced by that individual on that asset will stop increasing.
The individual needs to transfer their growth asset to a corporation in exchange for fixed-value preferred shares. With a tax election, no tax on the accrued gain is triggered on the exchange, and the payment of the tax can be deferred until the death of the individual. This is referred to anestate freeze as the tax liability is frozen at the time of the exchange.
The growth of the asset, after the exchange — or freeze — will accrue to the common shares of the holding corporation, which will be owned by the individual's heirs (e.g., children) and not the individual.
As the individual does not own the common shares, those shares are not part of the assets exposed to the deemed disposition rule on death. Therefore, the individual faces no tax liability on death on the post-freeze growth of the asset.
It is usually preferable to donate publicly traded securities to a charity rather than selling the securities and donating the cash. This applies to whether the donor is alive or deceased. Donating the securities ensures that the accrued capital gain is not subject to tax. The donor receives an official charitable receipt for the value of the securities donated.
Donations made post-death by virtue of a will can qualify for a tax credit on the deceased's final personal tax return. Refer to Part 2 of this series for more details on this. Part 2 also included comments on the tax changes coming in 2016 to provide executors of estates with greater flexibility in terms of tax saving when charitable donations are made after the death of a taxpayer.
When publicly traded securities of the deceased are donated to a charity after death, the securities are not subject to the deemed disposition rule at death. Where an individual wishes to donate to a charity after death, the will needs to be drafted to allow the executor flexibility in donating securities rather than cash or other assets.
The death benefit of a life insurance policy is received tax-free. Life insurance does not decrease tax due at death but provides a way to fund the tax payment. This strategy is particularly attractive in cases where a family cottage would need to be sold to obtain cash to pay the income tax on the cottage's accrued capital gain.
You might want to consider having the beneficiaries pay the premiums, as they are the ones that ultimately benefit.
Post-death losses
An estate will incur a loss on an asset it sells where there is a decrease in value since the deceased's death. Where the loss is incurred in the first taxation year of an estate, a tax election can be made to claim the loss on the final personal tax return of the deceased.
This election can be made on losses resulting from both assets that are capital property (e.g., shares of public and private corporations, mutual funds) and assets that are depreciable property used for rental or business purposes (e.g., rental building). To maximize the availability of this election, it is best that the first taxation year-end of the estate be a full 365 days after the death.
When there is a post-death decrease in value of an RRSP or RRIF before the plan is wound-up and distributed to the estate, the loss can be deducted on the final personal tax return of the deceased. To make use of this tax rule, the RRSP or RRIF must be wound up by December 31 of the year following the death.
Taxing income in the estate — changes coming in 2016!
Currently, a deceased taxpayer's estate exists from the time of death to the time the deceased's assets are distributed in one of two ways:
to the beneficiaries
to testamentary trusts created for the beneficiaries
A testamentary trust is a trust created as a result of an individual's death. An estate can earn income while it is holding assets. This income is subject to tax.
An estate is taxed in the same manner as a testamentary trust. The benefit of being taxed as a testamentary trust is that the trust is considered a separate taxpayer and its income tax is calculated using graduated income tax rates. This is particularly attractive where the ultimate beneficiaries of the estate are subject to the highest personal income tax rate.
Beginning in 2016, an estate will be able to make use of the graduated tax rates only for the first 36 months after the death of the taxpayer. If an estate still exists after 36 months — perhaps because of litigation — all of its income will be subject to tax at the highest tax rate.
Use of testamentary trusts in estate planning — changes also coming in 2016!
Common estate planning often includes drafting a will such that the estate isnot passed directly to the desired individual beneficiaries but to testamentary trusts created for the beneficiaries. There are two reasons for this:
to permit control/management of the inherited assets by someone other than the ultimate beneficiary (see comments above in respect of a spousal testamentary trust)
to allow for a potential income tax savings on the investment income earned on the inherited property. Put another way, this allows for a greater after-tax return than if a testamentary trust had not been used.
As noted above, testamentary trusts can make use of graduated tax rates, which can result in income tax savings where the desired individual beneficiaries are subject to tax at a higher tax rate. The tax saving could be multiplied when a will provides for multiple testamentary trusts to be created on death. An example would be a spousal testamentary trust and a testamentary trust for each adult child beneficiary of the deceased.
Beginning in 2016, the potential tax savings available by making use of these testamentary trusts will cease. All the income from these trusts will be subject to tax at the highest tax rate. These trusts will no longer be able to make use of the graduated tax rates in calculating their income tax liability.
Supplementary Death Benefit (Public Service and Canadian Armed Forces only)
Planning for Pets
Handing down the family cottage to the next generation
Estate planning for survivors and dependents
Planning a Secure Future for Disabled Dependents
RESP Contributions for Children and Grandchildren
Financial Impact of Inheritances
Death of a Taxpayer (I)
Death of a Taxpayer (II)
Death of a Taxpayer (III)


One of the very best HTC Thunderbolt accessories is a display include. Now for those unfamiliar with screen addresses, these accessories are extremely-thin items of movie which assist shield your telephone from scratches and this kind of. The screen protector could also shield it from any possible other mishaps, like unintentionally dropping it and such. Keeping the telephone with each other, the display include will prevent your Thunderbolt from shattering into a bunch of items. Simply because of this, a it is nearly as essential an accessory for your device as a charger.
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A route march would be undertaken as component of the coaching with all the aforementioned equipment. They had been expected to journey 20 Roman miles, which is roughly eighteen.5 of our miles. This length was expected to be achieved in 5 hrs.


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Alexander Fisher
Academic Non-Clinical, School of Arts, English and Languages
Academic Non-Clinical, Film
Phone+44 (0)28 9097 3450
Emaila.c.fisher@qub.ac.uk
Room 02.012 - 21 University Square
Accepting PhD Students
I am particularly interested in PhD applications in the following areas: –Music in film –African cinemas –Cinema and diaspora -Film and migration -Cross-cultural approaches to film
My primary research activities explore the political dimensions of sound and music in international film, with a particular focus on sub-Saharan African cinemas. I am also interested in the aesthetic, cultural and political aspects of 'world cinema', and I am currently researching recent transformations in international film distribution and culture. My broader interests include postcolonialism and film, Third Cinema, diasporic cinemas, the national/trans-national, and authorship. Additionally, I am always interested in projects that investigate how cross-cultural and/or cross-disciplinary readings of cinema inform established debates in film studies.
I carried out my doctoral research on African cinema at the University of Ulster under Professor Paul Willemen, having completed an MA in Film and Television Studies and a BA in Film and Literature at the University of Warwick.
AHRC Research Network Grant - two-year project 'World Cinema On Demand' (2012-1014)
External Examiner, English and Media Writing, Southampton Solent University (2007-2011)
Formerly Subject Lead for Film (3 years, 2011-2014)
Sound and music in world film (esp. their political dimensions); sub-Saharan African cinemas; cinema in postcolonial contexts; national cinemas (esp. outside Europe and North America); Third Cinema; online distribution of world cinemas.
World Cinema On Demand: Global Film Cultures in the Era of Online Distribution (co-edited with Stefano Baschiera), in press, anticipated 2020.
'Reclaiming Josephine Baker in the Filmic Ethnomusicology of Djibril Diop Mambéty', Music and the Moving Image, 12:2, July 2019, pp. 3-19.
'African Cinema On Demand? The Politics of Online Distribution and the Case of the African Film Library', The Journal of African Media Studies, 10(3), Sept. 2018, pp. 239-250.
'Vocal Spaces and Oral Traces: Voice-Over, Orality and Ousmane Sembene's Early Postcolonial Critique' in Tom Whittaker and Sarah Wright (eds.), Locating the Voice in Film (London: Oxford University Press), 2016, pp. 209-225.
'Ousmane Sembene: An Aesthetic Appreciation in the Light of HD', Viewfinder 104, 2016.
'Modes of Griot Inscription in African Cinema', The Journal of African Media Studies, 8:1, Sept. 2016, pp. 5-16.
'Scoring African Cinema' in Blandine Stefanson and Sheila Petty (eds.), The Directory of World Cinema: Africa (Bristol: Intellect), 2015) pp. 41-46.
'Aristotle's Plot: A Refusal to "Find" African Cinema?' in David Murphy and Lizelle Bisschoff (eds.) Africa's Lost Classics: New Histories of African Cinema (Oxford: Legenda), 2014, pp. 139-145.
'Between "the Housewife" and the "Philosophy Professor": Music, Narration, and Address in Ousmane Sembene's Xala', Visual Anthropology, 24:4, July-Sept. 2011, pp. 306-317.
'Funding, Ideology, and the Aesthetics of the "Development Film" in Postcolonial Zimbabwe', The Journal of African Cinemas, 2:2, Winter 2010, pp. 111-120.
'Med Hondo's Sarraounia: The Musical Articulation of Cultural Transformation', Music, Sound, and the Moving Image, 3:2, Autumn 2009, pp. 195-213.
FLM3024 Film and Music
FLM3007 Film Authorship
FLM2013 World Cinemas
FLM1005 Visual Studies: Theory and Practice
Fingerprint Dive into the research topics where Alexander Fisher is active. These topic labels come from the works of this person. Together they form a unique fingerprint.
cinema Social Sciences
music Social Sciences
housewife Social Sciences
aesthetics Social Sciences
narration Social Sciences
Zimbabwe Social Sciences
university teacher Social Sciences
ideology Social Sciences
R1410CRA: World Cinema On-Demand. Film Distribution and Education in the Streaming Media Era
Baschiera, S. & Fisher, A.
Vocal Spaces and Oral Traces: Voice-Over, Orality, and Ousmane Sembene's Early Post-Colonial Critique
Fisher, A., 26 Jan 2017, Locating the Voice in Film. Whittaker, T. & Wright, S. (eds.). London: Oxford University Press, p. 209-225 15 p.
Modes of Griot Inscription in African Cinema
Fisher, A., Mar 2016, In : Journal of African Media Studies. 8, 1, p. 5-16 12 p.
Aristotle's Plot: A refusal to 'find' African Cinema
Fisher, A., Nov 2014, Africa's Lost Classics: New Histories of African Cinema. Bisschoff, L. & Murphy, D. (eds.). Oxford: Legenda: Oxford, (Moving Image; vol. 5).
Scoring African Cinema
Fisher, A., Jun 2015, Directory of World Cinema: Africa. Stefanson, B. & Petty, S. (eds.). Intellect Books, p. 41-46
Music, Magic, and the Mythic: The Dynamics of Visual and Aural Discourse in Souleymane Cissé's Yeelen
Fisher, A., 2012, In : CINEJ Cinema Journal. 2, 1, p. 4-18 15 p.
Contact Alexander Fisher

redpajama_set_name: RedPajamaCommonCrawl


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Asia Swing Safe, Say Tennis Chiefs
by Naharnet Newsdesk 19 October 2011, 15:59
Tennis chiefs have played down fears that the Asian swing will become the perennial victim of player pull-outs at the end of the grueling season after high-profile absentees at the Shanghai Masters.
The question of burnout was bubbling away again in Shanghai, missing a clutch of top 20 players including marquee names Novak Djokovic and Roger Federer, taking some of the shine off the high-profile tournament which finished Sunday.
America's Andy Roddick said the no-shows from world number one Djokovic and 16-time Grand Slam champion Federer were stark evidence of the toll put on players by heavy playing commitments.
The Asian swing consists of five events, taking players to Bangkok, Kuala Lumpur, Beijing, Tokyo, and Shanghai
Andy Murray, the winner in Shanghai, made clear last month that players' patience was wearing thin, even floating the possibility of a strike, although he sought to play down the issue last week.
Despite the weakened field in China Brad Drewett, chief executive of the ATP's (Association of Tennis Professionals) International Group, remains unperturbed and is convinced that players are still keen to come to Asia even towards the end of a long, arduous season.
"Events in Asia are some of the most prestigious of the year and the players very much enjoy playing here. Typically the fields for the Asian swing events have been very, very strong," he told AFP.
"Top players consistently say how much they enjoy playing here and they mean it. Players are very well treated here and that's part of what makes playing these events so attractive," he added.
Drewett said withdrawals were not unique to Asia and it was important not to draw sweeping conclusions from just one tournament.
"Just last year, eight of the top 10 players played in Beijing and Tokyo (held simultaneously), and Shanghai had 19 of the top 20 competing. You can't look at playing patterns based on one year alone," he said.
The vast majority of the top players remain based in the United States and Europe but while Drewett concedes local stars would help drive the tennis boom in Asia, he said the game was nevertheless making major strides.
"The ATP World Tour has made huge advancements in this region in the last decade and has a bona fide Asian swing with five strong events over three weeks with prize money nearing $8 million, and a strong roster of corporate sponsors supporting them.
"This region definitely remains a focus for us. Of course, local stars always help to drive interest and I believe it's really just a matter of when, not if, China will have a top player on the circuit.
"You look at (Kei) Nishikori's achievements... and it's just fantastic. He's already a huge star in Japan and rapidly increasing his profile globally." Nishikori reached the semi-finals in Shanghai.
Drewett plays down the chances of Asia ever having its own Grand Slam but nevertheless sees the region as a crucial growth area for the game.
"These events in Asia can be extremely significant events on the ATP World Tour by having fantastic facilities, strong support from their governments and commercially from their sponsors and television," he said.
"The opportunities are endless in this region."
The 2011 schedule started with the Brisbane International on January 2 and finishes with the Davis Cup final starting on November 28.
But despite mutterings of discussions over the heavy schedule among players in Shanghai, it was more a matter of talks about talks with no sign of definitive action.
Murray made it clear that none of the players he knew wanted to strike and he had only said it was a possibility, adding that they would try to meet before the end of the year.
He said it was not a matter of root and branch reform, adding: "It's basically just a matter of like two or three weeks in the year that really I think need to change."
World number two Rafael Nadal said the players were generally of one mind.
"There is something there but it is not the right moment to talk about it," he said.
But despite the persistent rumblings Drewett is adamant that the players' views have been taken on board.
"The calendar has long been a topic of conversation and just last year we announced that we would be lengthening our off-season by two weeks beginning in 2012, meaning players will have seven weeks in between ATP World Tour seasons," he said.
He said players' health and wellbeing was paramount and the ATP had implemented changes such as reducing draw sizes, giving byes to the top eight seeds, and eliminating five-set finals.


I have inherited a site with a Zone Director 1200 and 10 access points. The previous "IT guy" documented absolutely nothing and registered almost everything in his own name. He has gone out of business surprisingly and does not return calls.
These folks are using a simple ISP gateway device to a HP procurve (unmanaged) and a Dlink DES-1228P for the APs' POE. I'm not seeing evidence of any pre-existing VLANs. Pretty simple setup. The ISP gateway device had failed and was replaced by the ISP. Now there is no connectivity to the internet for any of the APs. Nether the subnet nor the gateway IP was changed on the replacement device. Is there a simple reason why the Access Points have no internet after the change? Does the Zone Director register the MAC address of the gateway for some reason? Seems unlikely.
I have only remoted into a local PC for initial forensics :) It looks like the ISP enabled the native wireless AP on the replacement gateway device and this is what office staff are currently using. He may have used the Ruckus AP SSID names provided by the staff because the main one is called corporate something..same scheme no? Could it be this that is causing the issue?
I will be onsite tomorrow.
In the long run, I feel like I'm going to have to hard reset the ZD anyway. No one has a clue what the password might be. I tried admin/admin and super/sp-admin with no luckI think from reading here that I will also have to hard reset all of the APs as well because they will all be protected with the same password? Is there a recommended order of operations to ensure the reset process goes smoothly?
Sorry, complete newblet to all things Ruckus.
Hi there.. Definitely contact TAC (1-855-RUCKUS-1) and hopefully your ZD is under a valid contract?? they may be able to help you get in to the controller without having to factory default, but I don't know for sure.
There really should be no issue with connectivity outbound if nothing changed. i suspect that a different internal subnet is probably set up on the inside. ie. the default of 192.168.0.0 but the previous guy was using a 10.0.0.0 range. in this case, the ZD can't get out.
I suggest trying to connect a device directly to the switch (like a laptop) and seeing what IP address details you get. have an IP Ping scanner ready and search for the ZD management IP (unless you already know what that is) and ensure they are reachable and on the same subnet. It would be a lot easier if you could just log in to the controller.
Assuming the above is all the way it is supposed to be, there really should be no issues going outbound to the internet.
Thanks for the unbelievably fast reply!
I am unsure of the contract status so will be avoiding firmware updates etc until that can be determined.
I had an employee hook a laptop directly to the ZD and it's IP is known and part of the existing subnet. This is how we tried the passwords to login and failed of course. The IP is 192.168.2.240 and did not show up in the DHCP clients list on the gateway device so I assumed it was statically set previously. The access points do all show up in the DHCP clients list on the gateway as unknown devices, all receiving addresses from the pool on the gateway. Is this unusual?
From the laptop, can you reach the Gateway IP, and the Internet? an easy test is to ping 8.8.8.8 which is google's DNS server. if you can ping it you have internet access, if not there is a network issue with the ISP device, probably the interface that connects through to the ZD.
I can reach the ZD and the internet while plugged into the switch from a laptop. There appears to be only the one subnet at play here. Is there any value to rebooting all of the APs manually in this case? Maybe I have made an incorrect assumption. Maybe the ZD has received the 2.240 IP from the DHCP on the gateway and I missed it. Seems odd to get an IP from the end of the pool first but I have seen it before. If the gateway device was on a different subnet prior to the gateway change would the APs still be able to connect to the ZD after the change if it was DHCP? Would they just work or have to be reconnected to the ZD? Is it a bad idea to reboot the APs?
Probably wouldn't hurt to reboot the APs. if both the laptop which can reach the internet and the ZD are on the same subnet the ZD should be able to get out -- unless its possible the gateway IP is different than it was before? sometimes its .1 other times i've seen .254 as the gateway IP (though in theory it could be any IP in the range). Probably wouldn't hurt to reboot the ZD as well.
Given that its only 10 APs, at the end of the day rebuilding from factory default is not a big task. That might be your best bet since you will need access to the controller at some point, even if the system is running while you're locked out, right?
I'm guessing the aps might have configured the client isolation option which requires the gateway Mac and IP to be configured (otherwise traffic will be dropped). Check under the advanced settings of the wlan config.
This! You were absolutely correct. I got the password. All is good. Thanks again Diego.
Glad to hear so! Welcome to the world of ruckus. It's great gear, you'll see!
if you really have no idea what the user name and password are, then you probably will not get around a factory setting. you may be able to revive the wlan but you can change settings without access data never again.
I would not even try to revive it.
maybe you can still try to get the access data, but otherwise simply factory setting.
I think that the AP's connect themselves with the ZD, but I am not sure, but I can check that if nobody else knows this.