Publication: National Post
In this Op-Ed,Vern Krishna, Common Law Section, discusses the consequences of unformalized property transfers. "Canadian family members transfer property among themselves for a lot of reasons. Perhaps they're doing some estate planning or maybe dividing property because of a matrimonial separation. No matter what the reason, these types of deals may trigger some important tax consequences. You need to be aware of the rules because the law can be unforgiving," he writes.