How US Citizens Living in Canada Can Benefit from the US CARES Act

As you may be aware, US citizens living abroad, including those living in Canada, have an obligation to report and pay taxes on their worldwide income. They do so by filing annual tax returns as well as by complying with various foreign account reporting requirements.

The CARES Act and Those Who Can Benefit From It

The COVID-19 crisis is affecting individuals on a global scale, with governments across the world responding in myriad ways. In the US, the federal government has enacted the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”).

Globe and Mail – U.S. persons living in Canada could benefit from aid on both sides of the border

Matt Altro was recently interviewed by Brenda Bouw from the Globe and Mail to explain the various financial relief programs available to US persons living in Canada from both the US and Canadian governments.

Canada and Quebec Have Provided GST/HST and QST Relief

Canada has announced a series of measures to help businesses in response to the hardship caused by COVID-19, including an extension of GST/HST payments up to June 30 for a particular period.

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