Tax Filing Requirements

Canadian rental properties: An investment for Americans

This blog discusses how American buyers of Canadian rental properties need to be aware of tax reporting obligations in Canada and ensure they apply the foreign tax credit in the most tax efficient way.

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Advisor.ca – How to bring 401(k)s and IRAs to Canada

Matt C. Altro was recently interviewed by Melissa Shin from Advisor’s Edge to analyze the consequences and opportunities when it comes to crossing the Canada/US border with retirement accounts. The analysis was published in the September edition of the Advisor’s Edge magazine and also appeared online on Advisor.ca. In the article, Matt reviews the various options individuals face with regards to their 401(k)s, key questions one should be asking when holding 401(k)s if they have a cross border lifestyle, and he also shares various tips and tricks for retirement accounts. Click here to view the article online or scroll down […]

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Clinton vs. Trump: The US Presidential Frontrunners’ Platforms on Immigration, Tax & Health Care and their Potential Impact on Canadians

In February, I discussed the leading presidential candidates’ positions on tax and health care on CJAD 800AM, reviewing the platforms of Bernie Sanders, Hillary Clinton, Ted Cruz and Donald Trump. Last week, The Atlantic published a US presidential race cheat sheet with a byline stating that November’s presidential race will most likely be run by Hillary Clinton and Donald Trump, based in part on these candidates’ recent victories in the Northeast primaries. Now that the presidential race’s true frontrunners are more clear, an updated discussion of Clinton and Trump’s platforms is warranted. As such, this blog provides a high-level primer […]

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Advancements on Cross Border Issues re: Canadian and American Tax-Deferred/Tax Exempt Accounts

The Canada-US border is the longest undefended border in the world. Over one million Canadians live in the US, and a similar number of Americans live in Canada. Since there is so much crossover, it would make sense for Canada and the US to recognize the tax-exempt status of each other’s retirement and savings accounts. Unfortunately, certain tax-deferred and tax-exempt retirement and savings accounts held by individuals moving across the border can cause unfavourable tax consequences: the Internal Revenue Service (“IRS”) does not recognize the tax-exempt nature of certain Canadian retirement and savings accounts, and, similarly, the Canada Revenue Agency […]

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