Canadian Tax

Air travel can be stressful. Rising airfares and hotel costs, flight cancellations, pilot strikes, long security wait lines, and lost luggage are just some of the headaches that travellers face as more and more people head to the US. According to the US Travel Association, flight demand was up by 12% in July alone. US…

On September 27, 2023, Secretary of Homeland Security Alejandro N. Mayorkas and Secretary of State Antony J. Blinken announced in a joint statement that the US would be admitting Israel into the Visa Waiver Program (VWP). This expansion will be welcome news to Israelis wishing to visit the US as it aims to strengthen further…

The alternative minimum tax (“AMT”) was first introduced in 1986 to ensure that individuals and trusts pay some amount of minimum tax where they otherwise would not (or would pay what was perceived to be an insufficient amount) due to tax preferred forms of income such as gains from qualified small business corporation shares, qualified…

On Thursday, July 13, 2023, the Supreme Court of Canada handed down a landmark decision to dismiss an application for leave to appeal a challenge to the constitutionality of Part XVIII of the Canadian Income Tax Act. The decision obliterated any hope of striking down FATCA (Foreign Account Tax Compliance Act) legislation that allows Canadian…

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…