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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.

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