Canada Revenue Agency (CRA) is poised to receive significant data from the BC government that will help tie home ownership to income declarations. While BC’s speculation and vacancy tax is a measure to address the housing crisis in major urban centers in BC, it can also have an impact on “satellite” families who declare very […]

The December 2017 U.S. tax reform included a provision to subject to U.S. tax the earnings of intellectual property owned by U.S. investors outside the U.S. GILTI impacts U.S. persons resident in Canada who own Canadian and other non-U.S. corporations. Without effective tax planning, combined U.S. and Canadian tax rates approaching 85% could occur as […]

Many married U.S. citizen and/or U.S. resident couples file a joint US income tax return. It is convenient, allows taxation of income at potentially lower tax rates compared to filing separately and may save a small amount of preparation time and professional fees. However, in some situations, filing a joint US income tax return may […]