Canadian Tax

In a decision dated July 13, 2023, Gwendolyn Louise Deegan v. Attorney General of Canada, et al., the Supreme Court of Canada has dismissed an application for leave to appeal filed by the appellant challenging the constitutionality of Part XVIII of the Canadian Income Tax Act. The Foreign Account Tax Compliance Act (FATCA) is a 2010…

‘Canada wants top talent from around the world.’ That’s the message that was delivered this week when Canada’s Minister of Immigration, Refugees and Citizenship, Sean Fraser, launched the country’s first-ever Tech Talent Strategy. Looking to expand Canada’s high-growth industries, this strategy will include new, innovative measures and much-needed improvements on already existing programs to help…

On June 6, 2023, Minister of Immigration, Refugees and Citizenship, Sean Fraser announced an expansion to the Electronic Travel Authorization (eTA) program – only its second expansion since it was first introduced in 2015. The new expansion will allow those who meet the requirements to apply for an eTA instead of a visa, in a…

An alarming number of people living abroad don’t realize they’re US citizens who are subject to annual taxation and filing obligations to the IRS. They are commonly referred to as “Accidental Americans” and often discover they’re US citizens later in life through other family members, or when their non-US banks reach out asking them to…

The White House announced on May 1, 2023 that, starting May 12, 2023, the U.S. will no longer require Covid-19 vaccination or proof of vaccination to be presented by foreign air travellers entering the U.S. In news that will be of particular interest to Canadians, the Department of Homeland Security also issued a concurrent statement…

There are many things to look forward to during the year: Christmas, spring break, summer holidays, birthdays and more. But for American expats, US tax season is never one of these moments, and it can be a year-long obligation for most. Many are physically and emotionally exhausted after the time spent addressing the annual filings,…

  On March 28, 2023 (“Budget Day”), the Honourable Chrystia Freeland delivered the 2023 Federal Budget (the “Budget”). While our Budget summary focuses exclusively on taxation topics relevant to our clients and friends, it’s worth noting that the Budget proposes a $40B+ deficit for the coming year with no plan to bring Canada’s finances back…

In our renunciation blogs and webinars, we outline why American expats decide to renounce their US citizenship. The top reasons include the following: The cost of paying US taxes annually. The cost of double taxation (paying US tax AND tax in your home country). The US Estate Tax (the death tax) and succession planning. The…

First announced in Budget 2021, enacted June 9, 2022, and effective retroactive to January 1, 2022, the federal Underused Housing Tax Act mandates a filing requirement and potential 1% tax on the assessed value of vacant or underused housing in Canada (“UHT”). The UHT implements a tax aimed to deter non-Canadian ownership of residential properties…

On January 12, 2023, United States Citizenship and Immigration Services (USCIS) announced the upcoming implementation of its final phase of premium processing expansion for Form I-140 petitions under the classifications of EB-1 multinational executive and manager and EB-2 advanced degrees or exceptional ability seeking national interest waiver (NIW). Starting January 30, 2023, this phase will…

This year, US Citizenship and Immigration Services (USCIS) decided to give us all a present for the holidays that is likely to result in a significant number of rejections of I-485, Applications to Register Permanent Residence or Adjust Status. We must have all been very naughty this year. As part of the reimplementation of the…

Out of all the law and accounting firms you know you’re the mastermind Run, run Moodys Private Client, the CRA ain’t too far behind Run, run Moodys Private Client, Santa’s got to make the tax deadline Santa make them hurry, tell them your gifts to me are tax free and mine Run, run Moodys Private…

With a new year and a new semester just around the corner, many Canadians will be preparing to cross the border to pursue their studies in the U.S. as F-1 students. While most F-1 students must first obtain F-1 visas from a U.S. Consulate or Embassy, Canadians have the privilege of being visa-exempt for most…

A new trailer has debuted for the fourth season of the hit HBO series “Succession.” The show follows the exploits of the Roy family as they battle for control of their father’s media empire. While millions are glued to their screens for the latest round of legal maneuvering and back-stabbing, a real-life succession drama could…

Figuring out whether you are an American citizen can bring with it some incredibly complex and onerous tax surprises. You may be surprised to find out you are an American even if you have never set foot on US soil. And with that US citizenship comes tax on your worldwide income by Uncle Sam. In…