Noront Resources

High-grade Ni-Cu-Pt-Pd-Au-Ag-Rh-Cr-V discoveries in the "Ring of Fire" NI 43-101 Update (March 2011): 11.0 Mt @ 1.78% Ni, 0.98% Cu, 0.99 gpt Pt and 3.41 gpt Pd and 0.20 gpt Au (M&I) / 9.0 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inf.)

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Re: TFSA info for succession

Noront Resources

almost 15 years ago

in response to Sudbury Novice's message

As I understood things to be the last time I researched it, the TFSA enabling legislation was incomplete, as it did not fully address the issue of naming a benificiary, and the tax consequences of same. I haven't seen an information bulletin issued on the subject by CRA, so I assumed that "there will be the possibility to transfer" the asset to family members other than a spouse, based on earlier discussions on the subject at the regulatory level.

I hope Chauncey can clear the air after he contacts the CRA on this. I'd like to know what to do to minimize tax liability for estate planning purposes.

Lar