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Canada Revenue Agency Real Estate Audit Penalties in B.C. Reach $200,000 Mark

Selling Canadian real property? Canada Revenue Agency is increasing audit focus on nonresidents selling Canadian real property. We can assist you.




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Are you a Lawyer, Accountant, Investment Advisor or Other Professional Looking for Help Resolving a Cross-border Tax Matter for a Client?

April 11 2019

Andersen Tax LLP frequently accepts referrals from advisors in both Canada and U.S. seeking specialized advice on cross-border tax matters.


IRS Regulations Clarify 250A Deduction for Individual Owners of Non-U.S. Corporations Subject to GILTI

March 5 2019

Last fall, we wrote about the U.S.’s Global Intangible Low Taxed Income (“GILTI”) and its’ adverse tax impact on U.S. persons that own non-U.S. corporations.   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 early as 2018. 

GILTI (Global Intangible Low Taxed Income), IRS (Internal Revenue Service), US Tax Law

Steven Flynn Comments on BC’s New Speculation and Vacancy Tax and the Impact on Foreign Nationals who own Canadian Real Estate

February 26 2019

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 little as Canadian income and those who own a secondary urban home that remains empty for most of the year.

Canada Revenue Agency, Canadian Real Property, Canadian Tax Law, Tax Liabilities