Many Americans living abroad have been advocating aggressively for the repeal of Citizenship based taxation (CBT). These advocates argue that the rules that tax US citizens abroad are unfair and overly punitive.… Read more...
The CRA, Cryptocurrency, and Voluntary Disclosure
On September 18, 2020, the CRA applied to Federal Court in an attempt to obtain client’s confidential tax information from Coinsquare Ltd.,… Read more...
Update: Corporate America joins in call for second stimulus package deal
With the progress of the so-called compromise package bogging down in recent days, there is growing concern that a second stimulus package will even get a vote on the Senate floor before the holiday hiatus.… Read more...
Update: Second Stimulus Package Compromise Proposal Gains/Loses Traction
Thursday, December 3, opened with a report that outgoing President Trump acknowledging that he would sign a coronavirus relief package if Congress can broker a deal in the coming weeks after months of partisan-driven deadlock.… Read more...
Canada Revenue Agency and the Digital World
As the Globe and Mail reported recently, the Canada Revenue Agency (CRA) has started monitoring social media influencers and video-game streamers to ensure that such activities as paid endorsements and sponsorships align with annual income tax documents.… Read more...
The 5 Most Unique Retirement Neighborhoods in Toronto
Although Toronto is one of Canada’s most expensive cities to live in, it is also one of the most diverse, most vibrant, and, some would suggest, the most American city that the country has to offer.… Read more...
Update: President-elect Biden’s Views on a Second Stimulus Package
With a first-ever pandemic holiday seasoning drawing nearer every day, there is no real change in the second-stimulus stalemate that has drawn on for months now.… Read more...
Update: Second Stimulus Package and Payments
As we all recover from Thanksgiving dinner and look ahead to the holiday season, discussions around the second stimulus package continue.… Read more...
Understanding Form T1135 – Expat Tax Podcast
On episode #2 of the Expat Tax and Financial Planning Podcast we discuss form T1135 – Foreign income verification filings. For a comprehensive article on form T1135 and the issues related to foreign asset reporting click here.… Read more...
Offshore Tax Havens: What Is the Cost to Canada?
A recent Report from the U.K.-based Tax Justice Network (TJN) used a powerful analogy to summarize the impact of offshore tax havens on the global economy: “The equivalent of one nurse’s annual salary is lost to a tax haven every second.”… Read more...
