01/01/1970 – Page 3

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Canadian Covid-19 Small Business Tax Relief; Much Ado About Nothing

The Canadian federal government has announced its response to the Covid-19 Pandemic and is implementing a number of measures to help the economy.[1] In terms of cost, the largest of these measures are designed to increase liquidity and help Canadian firms maintain access to credit ...

Going Toe to Toe with TOSI (Canada’s Tax on Split Income)

The federal government introduced the Tax on Split Income (“TOSI”) rules effective as of the start of 2018. The purpose of the rules was to prevent Canadian business owners from splitting their income in ways that were not available to salaried employees. For example, prior ...

US Federal Income Tax – Gains on Sale of your Canadian Home Part 2

When an individual ceases to be a resident of Canada, he is deemed to have sold his worldwide assets (with some exceptions) and is subject to Canadian tax on any accrued gains in the year he emigrates from Canada. While Canadian real properties are not ...

Moving to Canada: Canadian Tax 101

Moving to a new country is a significant decision and one of the primary considerations is the tax system. The following is not an exhaustive list, but does provide a general overview of Canadian tax considerations for Americans considering a move north of the border. ...

Canadian Business Investment in the US

The US is a natural market for Canadian businesses. While there are many similarities between doing business in Canada and the U.S., it is the differences that require your attention. Canadian corporate tax rates are about a third lower than their equivalent in the U.S., ...

Will FATCA Be Implemented in Canada?

Some commentators have suggested Canada’s recently signed Intergovernmental Agreement (“IGA”) with the US violates Canada’s Charter of Rights. If they are right and the IGA is implemented, it may be overturned by Canadian courts. The IGA is an agreement that modifies the US’s Foreign Account ...

US Tax Confusion for US Persons in Canada

Many U.S. persons living in Canada are angry, scared or confused about their US tax obligations and the new Foreign Account Tax Compliance Act (“FATCA”). The internet is buzzing with stories of massive penalties, crippling professional fees and denied entry into the U.S., some of ...

Tax Residency: How Long Can I Be in the U.S.?

The answer is, you can stay in the U.S. as long as you want to, but there may be tax consequences to how long you stay there. There is widespread confusion about residency which isn’t surprising. The word, “residency” is interpreted differently depending on whether ...

Americans Moving to Canada

Moving to Canada? Here are some things you should know The Canadian government’s immigration website crashed on election night. That might have happened regardless of which candidate won the election. Even if politics in the U.S. was not so polarized, moving to Canada might still ...

Foreign Account Tax Compliance Act (FATCA) Seminars for US Persons in Canada

Are you a U.S. person who has not filed a U.S. tax return? The recently signed Foreign Account Tax Compliance Act (FATCA) agreement between Canada and the U.S. will require Canadian financial institutions to report accounts held by U.S. persons to the US Internal Revenue ...

The member firms of Andersen in Canada focus on Canadian, international and Canada-U.S. cross-border tax matters. With offices across Canada, our tax professionals work with a broad range of businesses and individual clients to develop innovative tax solutions for a diverse range of issues. Our senior leaders and many of our professional staff have extensive experience in Canadian, international, U.S. and cross-border tax matters with major international accounting firms, as well as practical experience working with businesses and individuals.

January 1, 1970

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