Being asked to be the Executor of someone’s estate is a significant responsibility, often coming at a very sad time if that person is a family member. The responsibility is not something which should be taken on lightly. The estate administration process can sometimes take years to complete.

The volatility of cryptocurrency is well-known. Holding assets such as Bitcoin can result in huge gains in value over a relatively short duration. It can also result in huge losses.

This is a question that professional advisors are faced with on a regular basis. The current paper version of the Income Tax Act stretches to almost 2,000 pages! How did we get to this?

In last month’s letter, various situations were discussed with respect to how long the CRA have to reassess a return or election. There is one further situation worth mentioning, namely the filing (or, to be precise, non-filing) of a return for a partnership.