Відео

Make it cash not check 's or e-transfer, the government will track every transaction to tax you, If giving funds make it cash in hand.

can we donate cyrptocurrency to our adult childern tax free ? even if there is increased in value

If no tax then thats fine nothing special!

Dont tell, don't pay. Cash or crypto only and the tax man can't prove anything.

For most people, they want to know whether a gift has tax implications. He talks a lot about marriage breakdown implications, which pales in comparison to the threat of taxation, plus interest, in my opinion. He does say a gift is not taxable but should have specified that income earned by a gift to a minor would be taxable to the donor, with interest in some cases.

not undetstsnding what a "ditto gift is"

hard to inderstand certain words not spoken properly

If you have to do this to gift family mrmbers money then I wouldn't give them any in the first place.

There is no law limiting the amount that you can give your children each Christmas ( that I am aware of). I have been helping my children financially through for years and now their children. I am very happy to be able to do for them what my parents did for me. Charity begins at home.🇨🇦👨‍🦳👍

What if I take cash and say it's to pay a gambling loan ?

That’s a total lie! You obviously aren’t Canadian nor have any concept about the extremely complex tax system!!

If the government wants to govern my money, they can start paying my bills.

This is total bs propaganda. All based on the false premise that alternative energy like wind and solar can compete with carbon based energy. Wind and solar is heavily subsidized by taxdollars. It is intermittent as the sun doesn’t always shine and the wind is unreliable, often blows too hard or not at all. Europe is the best example of the fanatical green energy politics fail. They were able to spin the lie of how great green energy was until the Americans blew up Nordstream 2 pipeline that was supplying cheap natural gas from Russia. They had shut down their nuclear energy and coal energy production. Now they are desperately in short supply of affordable energy and have ramped up their coal burning plants . Their industries are shutting down and moving out as they cannot compete whis is causing their economy to collapse.

Don't gift it directly to them. Leave it in an account in your name, give them a card and access or establish a joint account and be done with it. The only thing to avoid is the worthless government.

If I was to give my kids money it would only be my business..not through a lawyer.

Thank you!

Just gift it and keep your mouth shut about it.

just put the cash in an envelope and thats it ! just like trudeau receives everyday

cash is king, dont say a word.

GIVING! Not gifting.

If your gifting cash, once it leaves your hands, you have no say. Period. If you want stipulations, contact a lawyer!

Nice and clear. Bravo!

You really should state that giving any amount of money in Canada requires no document whatsoever. The key word is requires.

Canadians are taxed to death , none of these tax dollars go to pay of deficits , way to much goes to interest on the debt , Canada has had the most wasteful government ever in the past 9 year's , making it impossible for the younger generation to ever own anything . Vote wisely people !

Bull

how about some ingift to the child received from abroad in form of cash?

A question: What are the implications of bequeathing gold bars to heirs? Upon my passing, can my heirs receive gold bullion without any taxes on my capital gains? If I give 1 gold bar, will an heir receive 1 gold bar?

Thanks for this informative video. Can I gift my rental income to my College going son for his tuition fees without any tax implications

Canada is a disaster. I would be leaving as fast as you can. Un supportsble often criminal government services. Exchange your cask to other forms of money and leave

This is a very useful video - thanks for sharing!

Who has money to gift to anyone in Canada. We are all broke and give all of our money to the corrupt turdeau dictatorship.

Your link is for a gift deed from an estate after death. Is there one for a situation when the person giving the gift is still alive?

Is this the same for inherent $ or if im in major debt will collections just take it ?

Are there no English speaking people that could have done this.?

parents giving money to children is normal and usual, there is no need to have any reasons, I wonder why a deed of gift is required, a parent may be giving money to children many hundred times throughout their life, are they going to made many hundred deed of gifts. surely there are exceptional cases which you mentioned and that applies.

ONLY a problem for Chinese nationals trying sneak $$$ out of the Empire.

Darius I’m afraid I found your channel a little late. Great Canadian content! Will you be making anymore videos? Are you in another channel? Thanks!

U cant double tax either. If money was already earned and taxed, giving it away means it cannot be taxed again. Regardless of what any financial or tax person says. Double tax is not allowed. Same with money you put into a savings account. If earned and taxed already, it is free from any retax.

Hi Darius, I just discovered you on UA-cam, and I’m really enjoying your videos as you speak in plain language and your videos are very much relevant to us Canadiens, who are starting to learn about our finances. I have not seen any videos for the past couple of years, and would appreciate if you would create more content, that can help us. Do you offer tax advice as well?

You should update this video to March 2024 when Cnd govt enacted the Bare Trust act and backdated it to 2023 that made joint bank acts etc reportable and requires a T3.

Wow! This was timely and a huge help. We are just about to go through this. This is a huge help. Thank you so much.

tax is theft and interest is usury, promote the evil for the sheep

Merci

Hi Darius, if a elderly widow has a TFSA and has named son as Beneficiary, I understand that when the person dies has a will and named her son as Beneficiary the funds do not have to be included for Probate Tax in Ontario, BUT ARE THE FUNDS TAXED AS INCOME and included in the FINAL INCOME TAX FILING for the deceased person and form part of the Estate?

We learned a hard lesson when my mother-in-law named my under-age children in her will, by name, rather than just calling them her grandchildren. The BC government takes control of that fund so parents can't just spend it themselves. The government charges a fee for managing that money every year, leaving very little in the fund by the time the kids are finally of age. We went to court to be able to control their inheritance, rather than the government controlling them. The government then forced us to get bonded every 2 years until the children become of age (19 in BC) and we had to sign an agreement that we the parents were responsible for the difference ourselves if those funds drop, rather than increase. Luckily they both increased about $2500-5000 over a few years, so we then locked the funds into segregated mutual funds so they would be insured for the original investment, if the value dropped. Worked out that we didn't lose money managing their funds but it could have gone the other way very easily. Pretty sad that the government has no repercussions if they don't make money, while controlling the funds, but parents are responsible if the funds don't make money under their watch! Solution: In Canada, don't put an under-aged child's name down specifically in the will!

Never in writing and always in cash.

Thank you.

Thank you so much.

Thanks very much, so helpful. Does this also apply to crypto?

Buy life insurance with that money and leave it to your kids. Its tax free. Tax Free. Tax Free. Tax Free. Tax Free. Tax Free. Tax Free. Tax Free. Tax Free.