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Mandatory Disclosure for Aggressive Tax Planning (ATP) – Revenu Québec

Andersen 03/29/2021

Prepared by Andersen in Canada, Montréal Partner Patrick Coutu and Tax Manager Divya Katyal The Aggressive Tax Planning Research and Integrity Branch of Revenu Québec has recently issued a statement to broaden measures to combat aggressive tax planning. The disclosure obligations will now be extended ...

Canadian Tax Alert: 2020 Federal Fall Economic Statement

Andersen 12/04/2020

Prepared by Andersen in Canada, Montréal Partners Patrick Coutu and Simon Davari. On November 30, 2020, Canada’s Deputy Prime Minister and Federal Minister of Finance, Chrystia Freeland, presented the 2020 Federal Fall Economic Statement (Economic Statement). We are pleased to provide you the summary below ...

An Open Letter To Harry & Meghan On The Tax Implications of Moving to Canada

Andersen 01/15/2020

What follows is a rough analysis of Harry and Meghan’s (The Duke and Duchess of Sussex’s) tax situation in Canada, the U.K. and United States. No actual business or client relationship with the Duke and Duchess of Sussex is inferred nor implied. Andersen Tax LLP has not ...

“Just Phoning It In,” Is Not Due Diligence For Directors

Andersen 12/01/2019

In Macdonald v. The Queen, the Tax Court of Canada recently ruled that the directors of a Canadian corporation were liable under section 217.1(1), for both its employee and employer deductions for the unremitted employment insurance premiums (EI) and Canada Pension Plan contributions (CPP), as ...

Qualified Charitable Distributions – Tax Savings for Canadian Residents

Warren Dueck, FCPA, FCA, CPA (Washington) 11/18/2019

Canadian residents that hold certain U.S. retirement plans may have an unusual tax savings opportunity when making charitable contributions. Where they meet the requirements they can make a distribution from their U.S. retirement plan without recognizing taxable income for either U.S. or Canadian tax purposes ...

Moving in a Canoe is Still Moving, But Is It Deductible?

Andersen 11/15/2019

CBC news and the National Post recently reported that the Canada Revenue Agency (“CRA”) agreed to cover the moving expenses of a man who relocated for work in a canoe. See the links below https://www.cbc.ca/news/canada/ottawa/john-konecny-canoe-move-tax-law-canada-1.5355436 https://nationalpost.com/news/my-monty-python-esque-response-to-the-queen-how-one-man-proved-his-point-to-the-government-with-a-canoe John Konecny had been teaching in Whitby, Ontario during ...

Steven Flynn comments on BC’s new speculation and vacancy tax and the impact on foreign nationals who own Canadian real estate

Steven Flynn, CPA, CA, CPA (Washington) 02/26/2019

Canada Revenue Agency (CRA) is poised to receive significant data from the BC government that will help tie home ownership to income declarations. While BC’s speculation and vacancy tax is a measure to address the housing crisis in major urban centers in BC, it can ...

British Columbia Speculation and Vacancy Tax

Steven Flynn, CPA, CA, CPA (Washington) 01/28/2019

Owners of BC residential property need to be aware of the new 2018 British Columbia Speculation and Vacancy Tax affects and how to apply for exemptions. To prevent housing speculation in British Columbia and help turn vacant homes into rentals in its overheated market, the ...

Canadian Tax – Federal Liberal Tax Changes on Private Corporations

Steven Flynn, CPA, CA, CPA (Washington) 09/22/2017

Over the last few months, much has been written about the proposed Canadian tax changes to private corporations. I am concerned about the speed at which the Department of Finance is moving to enact these significant and wide reaching tax changes. The proposals were introduced ...

US Tax vs. Canadian Tax

Andersen 12/03/2012

There are many similarities between the U.S. and Canada, but there are some significant distinctions between U.S. and Canadian tax law especially for U.S. citizens resident in Canada, including permanent residents of the US (“green-card” holders). For the unwary those distinctions may result in substantial ...

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.

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