Blog

Currency risk management for Canadian retirement accounts

Canadians are in the full swing of retirement savings plan (RSP) season, and to build on Jeremy and Matt’s January 31, 2017 blog entry related to cross border taxation of RSPs, which you can view here, I will highlight a couple of issues related to foreign exchange risks faced by retirement accounts within a cross border context. Registered retirement savings plans (RRSPs/RSPs) and registered retirement income funds (RRIFs/RIFs) are tax-deferred savings and income vehicles respectively, available to Canadian residents for the purposes of accumulating funds or providing income for retirement. Contributions to an RSP, as well as investment growth on […]

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Cross-Border Health Care Concerns about Obamacare Repeal

One of President Trump’s main campaign promises was to overhaul the U.S. health care system by abolishing the Affordable Care Act (“ACA”), or “Obamacare.” It wasn’t surprising, then, that one of President Trump’s first actions in office was to sign an executive order urging his administration to curtail the law. But can President Trump simply repeal Obamacare with the stroke of a pen? The answer is no. The ACA can only be repealed or replaced if Congress passes new legislation. Since the Republicans control both chambers of Congress, however, it seems inevitable that major changes are coming—we just don’t know […]

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Planning opportunities from cross-border taxation of RRSPs

Making the decision to move to the U.S. always invokes planning questions for many Canadians. Taxes, ties with Canada, legal aspects or even investments are important matters when crossing the border, and Registered Retirement Savings Accounts (RRSP) are no exception to this rule. In this blog, we will describe some of the main advantages of the tax treatment of an RRSP for Canadians who have moved to the U.S. First, let’s review the importance of contributing to an RRSP. As Canadians, there are two main advantages of contributing. Investors will achieve immediate tax benefits in the year of contribution. The […]

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President Trump: Key Issues for Canadians Moving to the US

2017 is upon us and so is the new president. Last Friday, Donald Trump was inaugurated into the highest seat of office in the US. Since Trump announced his intention to run for president, there has been much speculation about the efficacy of his proposed policies. Now that he’s inaugurated, Trump’s proposed policies may very well become law. Trump’s policies focus on a wide array of issues; however, there are certain issues that have the potential to significantly affect my Canadian clients, particularly those clients who are in the middle of planning a permanent move to the US. As such, […]

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Advisor.ca – EXPECT U.S. ESTATE TAX CHANGES NO MATTER WHO’S ELECTED

Matt C. Altro was recently interviewed by Jessica Bruno from Advisor’s Edge to analyze the potential impacts on US estate tax changes depending on who the US elects in November: Hillary Clinton or Donald Trump. The analysis was published in the October edition of the Advisor’s Edge magazine and also appeared online on Advisor.ca. In the article, Matt reviews the different party platforms with regards to US estate tax and how electing a Republican or Democrat government will impact tax law. Matt also discusses other key cross border issues that may be affected by the 2016 US federal election, such […]

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