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Offshore trusts can be an attractive vehicle for estate planning. However, care must be taken to ensure that an offshore trust complies with Canadian tax law.
What is a trust?
A trust is a legal arrangement whereby a person (the “settlor”) gives property (the “trust property”) to another person (the “trustee”) to hold for the benefit of [...]
If you are planning on emigrating from Canada, you probably have a million things on your mind. Besides packing all your belongings, selling your home and saying goodbye to friends and family you will need to think about your registered assets.
What are my options for my Registered Retirement Savings Plan (”RRSP”) when I leave Canada? [...]
If you are a Canadian resident who spends a significant portion of each year in the U.S., you are not generally subject to U.S. income tax. If you do not work in the U.S., or receive dividends or rental income from U.S. sources, the provisions of the Canada-U.S. Income Tax Convention will likely consider you [...]
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Canadians planning to spend time in the U.K. for work or other reasons should be aware of some rather complicated residency rules of that country and the attendant tax implications.
Unlike Canada and the United States which will designate you resident or non-resident, in the U.K. you may also have to deal with the labels ‘resident, [...]
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Canadian citizens living outside of Canada are deemed non-residents under the Income Tax Act.
Unlike resident Canadians who are taxed on their world-wide income, non-residents (and deemed non-residents) are taxed only on their income from Canadian sources.
For tax purposes one may be considered a non-resident if:
you normally live in another country and are not considered a [...]
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If you live outside Canada and are not considered to be a Canadian resident for income tax purposes, your monthly Old Age Security, Canadian Pension Plan and Quebec Pension Plan payments may be subjected to Canadian Income Tax. The following provides some details about Non-Resident Tax and how to apply for a reduction in the [...]
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Canadians who spend a portion of each year in the United States need to be aware of the residency rules in that country as they apply to the paying of federal income tax.
Foreigners residing in the U.S are regarded as resident or non-resident aliens by the IRS. The difference can be critical in terms of [...]
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Revised draft legislation released by the Department of Finance on October 11, 2002 may have far-reaching consequences for individuals with non-resident trusts.
If you own or have interest in certain types of offshore trusts, revised draft legislation released by the Department of Finance on October 11, 2002 may have consequences you should be aware of. The [...]
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My husband died at the age of 59 may 24 2003
I was 57...I am 64 now
My income is 30,000
Have I ...
I was wondering my step aunty is POA for my dad and he has passed away is the POA responsible ...
After reading this, I was not too impressed with the way my mortgage renewal went! It so happens that ...
Having executed a will in accordance with all requirements what are the provisions for 'winding up ' the operation? Is ...
Correction to my posting I was under 35 years old (31 to be precise)
My husband passed away 28 years ago, I was under 25 at the time and was told I was not ...
Will I receive my old age pension if I move out of the country.
I also get CPP. 
I just sat reading most of the comments on CPP and OAP pensions. I find most of these very ...
Hi
I am getting 65 years and entitled for CPP and Old Age Security but my wife is only 59 years ...
My wife has never worked outside of the home. When she reaches 65 will she be entitled to OAS ...
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