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Canada Revenue Agency Form T1135

01/01/1970
In its 2013 budget, Canada announced the launch of Stop International Tax Evasion Program aimed at reducing international tax evasion and avoidance. The program allows Canada Revenue Agency to pay rewards to individuals with information on significant international tax non-compliance that leads to the collection ...
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US Gift Tax Exposure on Joint Ownership of Property

01/01/1970
The most common way spouses hold property in Canada is joint tenancy with right of survivorship. Joint ownership provides each joint tenant an undivided interest in the property and when one spouse dies, the property immediately passes to the surviving spouse without probate. In the ...
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Low Risk U.S. Tax Compliance

01/01/1970
On June 26, 2012 the Internal Revenue Service (“IRS”) announced new streamlined filing procedures (“SFP”) for non-resident U.S. taxpayers to go into effect September 1, 2012. SFP is available to U.S. persons and dual citizens living outside the US who have failed to timely file ...
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US Filing Obligations of Non-residents of the US

01/01/1970
There has been a lot of attention in the media about U.S. citizens who live in Canada and their U.S. tax filing obligations. Non-U.S. citizens who are not resident in the U.S. (“NRA” for non-resident aliens) may also have U.S. tax filing obligations where they ...
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Top 5 Tax Issues: Canadians Doing Business in the U.S.

01/01/1970
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Consulting in the U.S. – Planning in advance well worth it

01/01/1970
Independent consultants in Canada will often incorporate their practice in order to offer some liability protection not otherwise achieved through a sole-proprietorship structure. From a Canadian income tax perspective, the incorporated consultant will often make the choice between compensating himself by way of salary or ...
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Webinar Replay – Estate Planning for U.S. Citizens Resident in Canada: Tax 101

01/01/1970
Watch Krista Rabidoux and Philip Mei for a review of tax implications on estate planning for U.S. citizens resident in Canada. Topics on the Agenda U.S. Estate Tax  Canadian and U.S. Tax at Death Problems with Common Canadian Strategies Who Should be the Executor U.S. Beneficiaries of Canadian ...
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Tax Residency: How Long Can I Be in the U.S.?

01/01/1970
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 ...
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IMAGE - US Education Savings Plans for Residents of Canada

Alert for Parents: Education Savings Plans and U.S. Tax Issues

01/01/1970
Children. From the moment they’re born you start planning for their future. And like a lot of good parents, you start to save money for their future education early. Both Canada and the U.S. have great education savings programs whereby generally any plan earnings are ...
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IRS Actions to Solve Non-Compliance of Canadians Earning US Rental Income

01/01/1970
In August, the U.S. Treasury Inspector General for Tax Administration (TIGTA) issued a final report #2017-30-048 entitled “Additional Controls Are Needed to Help Ensure That Non-resident Alien Individual Property Owners Comply with Tax Laws”1. While the TIGTA needs to work on their titles2, the report ...
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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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