Taxation

To confirm that your trust’s objectives have been reached

Once you have had your trust set up as recommended by your tax expert, your trust will be required to produce income tax returns on an annual basis.

BJC produces the income tax returns of both testamentary trusts (created by a will) and intervivos trusts (created during one’s lifetime). For example:

• trusts for income splitting (also known as family trusts);
• trusts for asset protection.

The production of trust income tax returns is a highly specialized service that our CPAs and tax experts offer you.

What sets us apart at BJC is the fact that all trust income tax returns are reviewed by CPAs who are tax experts.

It is advisable to entrust this review to a tax expert. Such a review makes it possible to determine—while the return is being produced—if certain transactions made during the year are contrary to the initial objective for which the trust was set up.

It is very important that all of the transactions be associated with the reason for the existence of the trust in order for your trust to ultimately be eligible to claim the income tax savings as planned.

If, during the year, you made certain transactions that may be contrary to the trust’s objectives, we shall review with you the necessary measures or actions to correct the situation and document every such measure or action taken, as required by law.

While your income tax returns are being prepared, it’s the perfect time to assess whether the structure is still viable, confirm that the trust has not been contaminated by inappropriate operations, determine if the action plan still works or if we need to make changes to it.

We are available throughout the year to provide you with advice and answer your questions regarding, among others, the appropriate transactions that can be made through your trust.