Deborah Kraft

Office: MTax Centre, Toronto

Phone: 416-597-2147

Brief biography

With an extensive background in tax planning and education, Deborah’s past roles include consultation with clients and their professional advisors. Focusing on financial, estate, retirement, trust and succession planning, she has worked with diverse clientele including closely-held private businesses and their shareholders and high net worth families. Deborah is actively involved in the area of professional development and regularly authors articles for professional publications. Previously, she was the director of professional development and corporate secretary at the Canadian Tax Foundation.

Interests: My areas of interest include the taxation of private corporations and estate and succession planning for family owned businesses. I have a special interest in the development of tax-related communication skills and the design/delivery of courses and learning strategies to enhance student success.

Education and certifications

Master of Taxation, University of Waterloo
Master of Laws, Osgoode Hall Law School
Bachelor of Business Administration, Wilfrid Laurier University
Trust and Estate Practitioner (TEP)
Certified Financial Planner (CFP)

Selected publications

Advisor's Edge Report

“Understanding the Lifetime Capital Gains Exemption,” Advisor’s Edge Report, October 2017, Co-Author.
“How Active Versus Passive Business Income Is Taxed,” Advisor’s Edge Report, May 2017,Co-Author.
"How New Rules for Eligible Capital Property Will Work," Advisor's Edge Report, June 2016, Co-Author.
"A Look at New Personal Tax Rates," Advisor's Edge Report, February 2016, Co-Author.
"How to Use a Section 85 Rollover," Advisor's Edge Report, January 2016, Co-Author.
"The Corporate RDTOH Account," Advisor's Edge Report, October 2015, Co-Author.
"Pros and Cons of New Life Insurance Rules," Advisor's Edge Report, September 2015, Co-Author.
"TFSA: Not Always a Simple Decision," Advisor's Edge Report, June 2015, Co-Author.
“Trusts and the 21-Year Rule,” Advisor's Edge Report, February 2015, Co-Author.
"Optimize After-Tax Income," Advisor's Edge Report, November 2014, Co-Author.
"Proposed Tax Rules Could Impact Small Business Sales," Advisor's Edge Report, September 2014, Co-Author.
"Come Clean With CRA," Advisor's Edge Report, May 2014, Co-Author.
“Tax Consequences of Transferring Life Insurance," Advisor’s Edge Report, March 2014, Co-Author.
“Account Properly for Corporate-Owned Life Insurance,” Advisor’s Edge Report, February 2014, Co-Author.
"Tread Carefully with Corporate Reorganizations,” Advisor’s Edge Report, November 2013, Co-Author.

InfoExhange

Kraft, Deborah and James Kraft. "Clarity of Intentions Will Reduce Uncertainty," InfoExchange, The Conference of Advanced Life Underwriting, 2016, Vol 1.
Kraft, Deborah and James Kraft. "Planning for the 21-Year Dance", InfoExchange, The Conference of Advanced Life Underwriting, 2015, Vol 2.

Canadian Tax Foundation

"Planning with Life Insurance Post-2016," Ontario Tax Conference, Canadian Tax Foundation, 2016, Co-Author of Paper.
Kraft, Deborah and James Kraft. 2012. "The Application of Section 84.1 - Tips and Traps", Canadian Tax Journal, 60:2, 449-70.

Succession Planning

Succession Planning - "Rainy Days: Contingency planning for business owners in different work phases," Forum, May 2015, Co-Author.
Succession Planning - "Business Transfer: Making decisions, outcome and risks more manageable," Forum, May 2014, Co-Author.
Succession Planning - "Directing Succession: Who will heed the casting call," Forum, November/December 2013, Co-Author.
Succession Planning - "When decisions are driven by chance, choice or necessity," Forum, May 2013, Co-Author.
Succession Planning - "Family Succession: To sell of not to sell," Forum, November/December 2012, Co-Author.
Succession Planning - "Successful Successions: Avoid the pitfalls that can derail your succession plan," Forum, June/July 2012, Co-Author.
Succession Planning - "Why Understanding Value is Key", Forum, Nov/Dec 2011, Co-Author.

COMMENT

COMMENT, The Institute for Advanced Financial Education, Nov/Dec 2018, “Spousal Support,” “Combatting Tax Evasion Through Increased Transparency,” and “Easing the Financial Strain of the Gift-Giving Season”
COMMENT, The Institute for Advanced Financial Education, Sept/Oct 2018, “Total Remuneration Extends Beyond Salary,” “Canadian Generosity,” and “Corporate Ownership of a Life Insurance Policy”
COMMENT, The Institute for Advanced Financial Education, July/Aug 2018, “The Tax Consequences of Transferring a Life Insurance Policy” and “Working With the Capital Dividend Account"
COMMENT, The Institute for Advanced Financial Education, May/June 2018, “Expanding the CRAs Inventory of Data Assets,” “Measuring the Economic Cost of the New Tax Proposals,” and “Personal-Use Property: Often Overlooked But Still Subject to Tax”
COMMENT, The Institute for Advanced Financial Education, Mar/Apr 2018, “The New TOSI Rules: Complexity and Challenges”
COMMENT, The Institute for Advanced Financial Education, Nov/Dec 2017, “Principal Residence Exemption: Tax-Free Growth Worth Understanding,” and “Tax Assessments and Reassessments”
COMMENT, The Institute for Advanced Financial Education, Sept/Oct 2017, “Can a Corporate-Owned Life Insurance Policy Be Paid as a Dividend In-Kind?,” “CRA Stance Results in Unfair Outcome to Taxpayer,” and “2017 Tax Rates for a CCPC”
COMMENT, The Institute for Advanced Financial Education, July/Aug 2017, “Charitable Giving of Corporate-Owned Life Insurance,” and “Joint Tenancy in the Spotlight"
COMMENT, The Institute for Advanced Financial Education, May/June 2017, “Prescribed Interest Rates,” “Charitable Donations,” and “The Changing Face of Canada’s Labour Market””
COMMENT, The Institute for Advanced Financial Education, Mar/Apr 2017, “Tax-Free Savings Accounts: Understanding Contribution Limits,” and “Eight Tips for Saving on 2016 Income Taxes”
COMMENT, The Institute for Advanced Financial Education, Jan/Feb 2017, “When Contracts Result in Unintended Consequences,” and “A New Year: Revisiting Marginal and Average Tax Rates”
COMMENT, The Institute for Advanced Financial Education, Nov/Dec 2016, “Important Changes to Principal Residence Exemption,” “Changes to the Capital Dividend Account,” and “Canada/Quebec Pension Plan and Employment Insurance 2017”
COMMENT, The Institute for Advanced Financial Education, Sept/Oct 2016, “Charitable Gift Planning With Life Insurance,” “A Look at Charitable Tax Credit Rates,” and “RRSP Beneficiaries – Proceed Cautiously”
COMMENT, The Institute for Advanced Financial Education, Nov/Dec 2016, “Important Changes to Principal Residence Exemption,” “Changes to the Capital Dividend Account,” and “Canada/Quebec Pension Plan and Employment Insurance 2017”
COMMENT, The Institute for Advanced Financial Education, Sept/Oct 2016, “Charitable Gift Planning With Life Insurance,” “A Look at Charitable Tax Credit Rates,” and “RRSP Beneficiaries – Proceed Cautiously”
Comment, The Institute for Advanced Financial Education - July/August 2016 - "Greater Certainty When Assessing "De Facto" Control" and "Financial Literacy Leads to Better Outcomes." Co-Author.
Comment, The Institute for Advanced Financial Education - May/June 2016 - "Life Insurance and New CDA Calculations," "Children and Your Estate Plan," and "Changing Circumstances Can Create Unexpected Consequences." Co-Author.
Comment, The Institute for Advanced Financial Education - March/April 2016 - "Tax Savings for Students," "The Benefits of Aging," and "Incorporated Employee." Co-Author.
Comment, The Institute for Advanced Financial Education - January/February 2016 - "Clarity of Intentions Will Reduce Uncertainty" and "A New Year and New Federal Income Tax Rates." Co-Author.
Comment, The Institute for Advanced Financial Education - November/December 2015 - "Transitioning to the New Tax Rules for Trusts" and "Pension Income Splitting Creates Tax Savings Opportunity." Co-Author.
Comment, The Institute for Advanced Financial Education - September/October 2015 - "Understanding When Corporations May Be Associated," "New Rules for RRIFs," "Taxpayer Bill of Rights," and "Canada Revenue Agency Publications." Co-Author.
Comment, The Institute for Advanced Financial Education - July/August 2015 - "A Charitable Gift: Differing Tax Outcomes Can Affect the Plan," "Interest Expense," and "Joint Tenancy Can Add Complications." Co-Author.
Comment, The Institute for Advanced Financial Education - May/June 2015 - "Tax Changes and Corporate-Owned Life Insurance", "New Insights Into The Value Of Pension Plans” and “New Tax Measures”. Co-Author.
Comment, The Institute for Advanced Financial Education - Mar/Apr 2015 - "Death of the RRSP Plan Holder" and "Taxation of Estates: Changes are Coming". Co-Author.
Comment, The Institute for Advanced Financial Education - Jan/Feb 2015 - "Changes Underway for Donations", "Tax Return Filing Tips for 2014" and "Dividend Taxation." Co-Author.
Comment, The Institute for Advanced Financial Education - Nov/Dec 2014 - "The New Kid on the Block", "Managing the Risk of a Punitive Outcome", "Benefits Arising from Education have a Cost" and "Pension Income Splitting". Co-Author.
Comment, The Institute for Advanced Financial Education - Sept/Oct 2014 - "Beneficiary Beware", "Changing Circumstances", "Undoing What's Been Done" and "Medical Tax Savings". Co-Author.
Comment, The Institute for Advanced Financial Education - July/Aug 2014 - "Eligibility for Pension Benefits Tax Credit", "Optimizing OAS to the Circumstance", "Benefits of an ABIL" and "Evaluating the Option of Professional Incorporation". Co-Author.
Comment, The Institute for Advanced Financial Education - May/June - "CPP Retirement Benefit: It's All in the Timing", "Eligible Capital Property Under Review" and "The Changing Face of Canadian Society." Co-Author.
Comment, The Institute for Advanced Financial Education - Mar/Apr 2014 - "Kiddie Tax Net Continues to Expand", "Shareholder Loans: Beware of Taxable Events", "Canadian Farm Operations" and "Cottage Succession". Co-Author
Comment, The Institute for Advanced Financial Education - Jan/Feb 2014 - "Tax Return Tips", "Charitable Gift Planning in a Will" and "Role of the Prescribed Interest Rate". Co-Author.
Comment, The Institute for Advanced Financial Education - Nov/Dec 2013 - “Life Insurance Shares”, “Spousal Trusts and Life Insurance”, “Benefits Arising from Education have a Cost” and “Pension Income Splitting”. Co-Author.
Comment, The Institute for Advanced Financial Education - Sept/Oct 2013 - “OAS Changes Warrant Careful Attention When Planning”, “Capital Dividend Trapped by Circumstances”, “Corporate Cash” and “CRA Communicating with Taxpayers”. Co-Author.
Comment, The Institute for Advanced Financial Education - July/Aug 2013 - "A Glimpse at Tax Proposals for Testamentary Trusts", "Part-Time Farmers: The Value of a Loss" and "Careful Crafting of the Words Helps Achieve Intended Outcome". Co-Author.
Comment, The Institute for Advanced Financial Education - May/June 2013 - "Testamentary Trusts in the Spotlight", "First-Time Donor’s Super Credit", "Portable Life Insurance" and “Tips for Students Who Want to Save. Co-Author.
Comment, The Institute for Advanced Financial Education - March/April 2013 - "Now that the RRSP mad dash has passed, what’s next?”, "Ensuring Property Vest Indefeasibly" and "Understanding Value in your Tax Return”. Co-Author.
Comment, The Institute for Advanced Financial Education - Jan/Feb 2013 - "Disbursement Quota Changes For Charities", "Changing Trends Affect Retirement Plans" and "The Essentials Of Having A Will". Co-Author.
Comment, The Institute for Advanced Financial Education - Nov/Dec 2012 - "Disposition of a Life Insurance Policy", "Adjusted Cost Basis", "Living Value in Life Insurance" and "Nanny Advantages". Co-Author.
Comment, The Institute for Advanced Financial Education - Sept/Oct 2012 - "Part-Time Farmers", "Support Obligations" and "Tax Savings for the Disabled". Co-Author.
Comment, The Institute for Advanced Financial Education - July/Aug 2012 - "Jointly-Owned Property", "An Overview of the Alternative Minimum Tax", "Retirement Planning" and "Caring for An Aging Society". Co-Author.
Comment, The Institute for Advanced Financial Education - May/June 2012 - "Residence of a Trust", "Insured Annuities" and "A Score that Truly Matters". Co-Author.
Comment, The Institute for Advanced Financial Education - Mar/Apr 2012 - "Personal Service Business Changes", "Maximizing Old Age Security", and "Charitable Giving". Co-Author.
Comment, The Institute for Advanced Financial Education - Jan/Feb 2012 - "Clarity of Intentions", "Accounting for an insurance Policy" and "More Opportunity to Save". Co-Author.
"5 Year Review", (with James W. Kraft), CA Magazine, June/July 2010
"Succession Planning: Understanding Value", (with James Kraft), FORUM, Nov/Dec 2011
Comment, The Institute for Advanced Financial Education - Nov/Dec 2011 - "Kiddie Tax Expands its Reach", "Business Investment Loss", "Before the Tax Man Comes Calling" and "The Health of Canadians". Co-Author.
Comment, The Institute for Advanced Financial Education - Sept/Oct 2011 - "Registered Education Savings Plans", "Tax Avoidance", "Corporate-Owned Life Insurance", and "Budgeting" . Co-Author.

Courses taught

TAX 620 - Introduction to Business Structuring
TAX 636 - Estate and Retirement Planning
TAX 638 - Masters' Research Paper
Tax 600 - Introductory Tax and Accounting for MTax Students
TAX 628 - Tax Planning for the Owner-Manager and Executive (previously)

Awards

Fellow of Financial Planning Standards Council (FPSC) (2012)
Financial Planning Standards Council recognizes individuals for outstanding contribution to furthering FPSC's vision and for advancing the financial planning profession with the Fellow of FPSC distinction.

Professional service

Consultant and academic advisor to The Institute for Advanced Financial Education.
Co-Author, "Advanced Concepts in Tax and Law for Personal Planning," The Institute for Advanced Financial Education, 2016.
Co-Author, "Tax and Legal Principles for Businesses and Their Owners," The Institute for Advanced Financial Education, 2016.
Co-author of COMMENT a bi-monthly publication published by The Institute for Advanced Financial Education.
Tax Planning for the Wealthy Family Conference. Federated Press, September 2013. Succession and Tax Planning for Owner-Managers Workshop. Co-Presenter.
Tax Planning for the Wealthy Family Conference. Federated Press, September 2012. Succession and Tax Planning for Owner-Managers Workshop. Co-Presenter.