Global News – Make the most of your money
Matt Altro answers a question from Global News, specifically about the various considerations around cross-border gifting.
An Uncertain Future for the Affordable Care Act in the U.S.
The future of the Affordable Care Act (ACA), also known as Obamacare, and by extension the entire healthcare landscape in the U.S., is anybody’s guess at this point with the U.S. election day almost upon us. The recent death of Ruth Bader Ginsburg in September and her subsequent replacement by...
Investment Executive – How the Democrats’ proposed tax policy could affect cross-border clients
Matt Altro was recently interviewed by Michelle Schriver from Investment Executive to explain the potential tax impact the 2020 US Presidential election may have on US citizens living in Canada.
Non-residents and Registered Retirement Savings Plans (“RRSPs”)
Non-residents of Canada can continue to hold RRSPs after leaving Canada. Income and gains in an RRSP are considered tax-free in Canada and in many foreign countries with which Canada has tax treaties and where non-residents may live.
As such, non-resident taxpayers may consider contributing to RRSPs for various reasons, if they have Canadian taxable income and RRSP contribution room.
For one, taxpayers can enjoy an immediate tax savings as RRSP contributions are deducted from Canadian taxable income.
Should You Include Private Equity in Your 401(K) Plan?
On June 3, 2020, the US Department of Labor published an information letter assuring that private equity investments may be included in 401(K) plans. The inclusion is permitted if private equity is a component of an asset allocation fund, target-dated fund, or balanced fund. Plan sponsors are not allowed to offer private equity as direct investments in defined-contribution plans such as 401(K)s.
Advisor’s Edge – Comparing Canadian and U.S. Covid-19 measures for retirees
We are pleased to announce that Jonah Ravel has recently contributed an article for Advisor’s Edge, which was published on June 30, 2020. His article titled “Comparing Canadian and U.S. Covid-19 measure for retirees” serves as a thorough review of Canada's RRIF relief and US relief for retirement plans.