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Sunday, March 24, 2019

Audits on the rise for Estate Info Returns (Ontario)

In most parts of Canada, an executor or estate administrator "proves" the value of the estate simply by swearing an affidavit under oath as to the value. In Ontario, the system changed a few years ago. Since 2015, executors and administrators have to file an Estate Information Return (EIR) which contains full details of all assets of the estate. According to an article I've just read by Ontario lawyer Daniel Bernstein, the government is cracking down on people who don't file them, or who file them improperly. Mr. Bernstein says that the number of executors being audited is up, and talks about what kind of things need to be included in the EIR. To read Mr. Bernstein's article, click here.

2 comments:

  1. Lynne

    This is an excellent piece of information. I was somewhat aware of the changes that are indicated but your article will give me more ammunition that will allow me to increase the pressure on those involved.

    Re my matter. It is far from being resolved and settled . It has become an 'unbelieveable' mess. A nightmare. Perhaps one day you can read about it and write about it.

    As always, many thanks for what you do.

    Webeye

    ReplyDelete
  2. My understanding is this requirement is part of the calculation of probate tax. It is not required for wills that are not probated. - Linda.

    ReplyDelete

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