Quote:
Originally Posted by Strange Brew
Sounds like the poster just didn't know about the deemed disposition rule so seems unlikely that some investments were included while others were not.
I'm surprised if the dividends were included on the final tax return that the deemed disposition rule was not raised by CRA either upon review. This isn't my thing really but just seems rather obvious in that scenario.
Good luck in getting this fixed Fotze. If it was me, I wouldn't let much time pass before amending the return.
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CRA takes up to 3 years to suddenly realize something should be looked at if it's straight forward. Because there's potentially the option not to deem dispose as of death and instead as of actual on an estate, the situation can get muddled.
The other issue is that there are scenarios where there is no deemed disposition. I believe that the deemed disposition rule is kicking in in this scenario because of perceived attempts at wrapping up the estate on the T1 Final vs allowing the assets to go into an estate/T3 trust scenario where they will be disposed of there (deemed or actual) instead.
Computershare scenario wise, it being missed happens a lot. Clients receive a T slip, but may only receive an annual statement on the side, and/or may have to do special instruction to get the shares disposed. These shares may not be on the primary investment statement with the other investments. I've seen many different scenarios. Sometimes, it's that the taxpayer had some held in trust under Computershare and a bunch in an investment account. The trustee/executor didn't realize they were separate batches.
The last facet is human. Someone may assume a situation when preparing the return, especially when it's high octane and we're churning through many different returns simultaneously. Trustee/executor are under duress and not really thinking super clearly. This is why it's probably easier to notice/becomes more obvious when sitting down in a lower pressure environment and slowing going through the clearance certificate request process/actually able to sit down and read statements and documents line by line vs skimming.
Owning shares of another company under Computershare can be weird. Your points are very valid. I'm just saying that the Computershare scenario is also easy to misinterpret/mistakes as well, because it's not as always clean and as straight forward as all other investment holding scenarios.