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Navigating Tax Strategies in a High-Interest Rate Environment: Considerations for Non-Resident Investors in Canada
Prepared by Danny Guérin, Myriam Vallée and Justine Lambert, Andersen in Montreal (Canada) INTRODUCTION The significant surge in inflation throughout 2022 has been a predominant concern for the economic community and the government alike as the inflation averaged 6.8%, reaching a peak of 8.1% in June of 2022[1] However, the implemented tightening of monetary policy […]
Renunciation of U.S. Citizenship
August 29, 2023Renouncing U.S. citizenship is a significant decision with wide-ranging implications. Renunciation may have adverse U.S. tax implications. This blog will break down the tax complexities surrounding the renunciation process and provide you with an essential understanding without getting lost in the jargon. Who is a Covered Expatriate? A covered expatriate includes individuals who renounce their […]
Blog – U.S. and Canadian Capital Gains
July 28, 2023INTRODUCTION Capital gains are distinguished from other types of income for both Canadian and U.S. tax purposes. Often, capital gains are taxed at a lower effective rate than ordinary income, and in some cases they are exempt from tax altogether. Taxpayers should consider how these preferential rules could apply to their situation. Capital transactions can […]
Beneficial Ownership Information Reporting
July 13, 2023The Corporate Transparency Act (CTA), enacted by the U.S. Congress on January 1, 2021, is designed to strengthen the integrity of the U.S. financial system. It establishes new U.S. reporting obligations for certain types of corporations, which will take effect on January 1, 2024. Non-U.S. or foreign corporations may be subject to this reporting rule […]