Please wait, loading...
The 2011 OVDI announced by the IRS is intended to bring non-compliant US taxpayers into compliance with U.S. tax laws and regulations on the understanding that once in compliance the tax payer will continue to comply with U.S. tax requirements in future years. This may be a non-compliant taxpayer’s last best chance to come forward...
Anyone that has undisclosed offshore income and assets wishing to come forward and make things right will probably find that 2011 will be a very good year. The 2011 OVDI (Offshore Voluntary Disclosure Initiative) announced by IRS Commissioner Shulman on February 8, 2011 provides what may be the last opportunity for non-compliant US taxpayers to come...
So you have decided to leave Canada permanently and settle in another country. Maybe you’ve decided to take that great job in the United States or overseas or you just want to live somewhere where it’s always warm. You’ve finally got your US Green Card (or other immigration clearance) so you call in the movers,...
A tax free savings account (TFSA) is a registered savings account that allows individuals to save a set amount of money on a yearly basis and invest that money with no tax payable. The aim when TFSAs were created by the Government of Canada was for people to set aside money to invest. Gains made...
You’ve been looking at all those great values in US real estate and the premium value of the Canadian dollar. You’ve been thinking that now may be the time to buy before prices start to rise or all the bargains are scooped up. You’ve studied the decline in housing prices in the US Sun Belt...
A Canadian resident that the IRS has deemed to be a residential alien by way of having a substantial presence in the United States (the substantial presence test) is required to pay US income tax on his or her worldwide income. However, if it can be establish that a Canadian resident (or resident of another...
If you are a Canadian resident who is planning to spend an extended period of time in the United States you should be aware of the IRS tax regulations that may effect you. Perhaps you have just purchased a US residence in the Sun Belt and plan to become a snowbird or perhaps you plan...
The Income Tax Act gives the CRA broad powers to conduct a detailed review or audit of your income tax return, requesting additional information, either in support of a particular tax return that has been filed, or a request to file a tax return. The telephone call can signal the beginning of a stressful time...
Canadian residents owning any US property can be subject to US estate tax. Strategies, such as the use of trusts, are available for structuring US real estate and assets to reduce or eliminate the potential liability from US estate tax. The Canada-United States Convention with Respect to Taxes on Income and on Capital provides Canadian...
Clearance certificates are written notices issued by the Canada Revenue Agency to confirm that an estate has no outstanding tax liabilities to Canada. If an executor distributes the assets of an estate before getting a clearance certificate confirming that all taxes and any interest penalties have been paid, the executor can be personally liable for payment of the...
© AG Tax LLP | All Rights Reserved | Website by Aroma Web Design Vancouver
© AG Tax LLP | All Rights Reserved | Website by AromaWebDesign.com
ABOUTAylett Grant Tax, LLP
With offices across Canada, we are positioned to manage and process the full scope of your Canadian, US and US Canada cross-border tax filing needs.ABOUTAG Tax LLP
With offices across Canada, we are positioned to manage and process the full scope of your Canadian, US and US Canada cross-border tax filing needs.OFFICEVancouver
12752 28th Ave, Surrey, BC, V4A 2P4OFFICEEdmonton
104–4220 98 St NW Edmonton AB, T6E 6A1