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Blog Alert: Taxes for U.S. Citizens Resident in Canada
Taxation Based on Citizenship U.S. citizens resident in Canada are taxable on their worldwide income in both countries. The real question is which country gets to tax it first, which country gives a credit for the other country’s tax and what happens when both countries don’t tax it at the same time or in the […]
2% Share Buyback Tax: What to Expect?
January 5, 2023Prepared by Andersen in Canada, Montreal Partner Danny Guérin with support from Stéphanie Perras. The 2022 Federal Fall Economic Statement announced a two-percent tax that would applyon the net value of all types of share buybacks made by public corporations in Canada. Thetax would come into effect on January 1, 2024. The statement indicates that more detailswill be […]
Canadian Film or Video Production Tax Credit
June 2, 2022Prepared by Andersen in Canada, Montréal Partner Patrick Coutu and Tax Manager Divya Katyal with support from Lisa Chea. Extension of timelines for Film or Video Production Services Tax Credit In the Budget 2021, the government of Canada proposed to extend the timelines for eligibility and compliance for the Canadian Film or Video Production Tax Credit (CPTC) and Film or […]
Canada Federal Budget 2022 Highlights
April 19, 2022Prepared by Andersen in Canada, Montréal Partner Patrick Coutu, Tax Manager Maxime Blais with support from Lisa Chea A. Individuals – proposal 1. A Tax-Free First Home Savings Account (CELIAPP) A new account will be available starting January 2023 to help taxpayers save money for their first home. The contributions will be deductible from their taxable income and […]