Sherry Zheng
Vice President – Tax Services
CPA (Delaware), MTax
Email: szheng@mcacrossborder.com
Telephone: 416-477-8158
Sherry Zheng
Vice President – Tax Services
CPA (Delaware), MTax
Email: szheng@mcacrossborder.com
Telephone: 416-477-8158
Sherry is Vice President – Tax Services of MCA Cross Border Advisors Inc.
Sherry Zheng is Vice President – Tax Services of MCA Cross Border Advisors Inc. She is a Certified Public Accountant (CPA) (Delaware) and a Masters in Canadian taxation with over 10 years of experience in assisting families and individuals with tax planning and tax compliance.
Sherry has overseen tax filings for individuals, corporations, trusts, foundations & partnerships, and she also advised with respect to various tax planning opportunities to ultra high net worth clients. Planning opportunities she has extensive experience with include estate freezes, income tax minimization & deferral, loss utilization, retirement planning, succession planning, and more.
Before joining the team at MCA Cross Border Advisors Inc., Sherry worked at KPMG Enterprise as a Senior Tax Manager and Director of Tax Services at a boutique multi-family office within one of Canada’s largest financial institutions, and she assisted many families and individuals with their tax needs.
Sherry is a member of the Canadian Tax Foundation. She is a Certified Public Accountant (CPA) (Delaware) and she also has a Master in Taxation degree from the University of Waterloo. She has completed Level III of the CICA In-depth Tax course and the CICA Advance Tax Course for the Owner-Managed Business. Sherry also has an Honours Bachelor of Arts degree with a major in International Business from the Guangdong University of Foreign Studies.
Education
- Master of Taxation (MTax), University of
Waterloo, 2002 - Bachelor of Arts (B.A.), Honours, Guangdong University of Foreign Studies, 1999
Certifications & Memberships
- Lean Six Sigma, Transactional
Excellence Green Belt
Recent Articles, Media Interviews & blogs by Sherry
Proposed AMT Rules and Effect on Departing Canadians
The 2023 federal budget announced significant changes to the Alternative Minimum Tax (AMT) regime to better target the AMT to high income individuals. On August 4, 2023, the Department of Finance released draft legislative proposals to modify the AMT regime, effective as of the 2024 tax year.
These AMT changes will have a significant impact on Canadians who are planning on exiting Canada for tax purposes after Dec 31, 2023.
What You Can Do if the Federal Government Increases the Capital Gains Rate in 2022
Although the Canadian government has considered raising the capital gains rate in previous years and declined to do so, some are speculating that increasing debt, campaign promises and the cost of the fight against COVID could mean this is the year the government will increase the capital gains rate.
Is there anything you can you do now to avoid the potential tax increase? While I can’t predict what will be in the 2022 Federal Budget, here are three possible solutions for pre-empting a higher capital gains inclusion rate.
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.
CROSS BORDER PROFESSIONALS
Casper Wong
Senior Cross Border Tax Associate
Nakeita McKnight-Monrose
Client Services & Administration Specialist
Raeline Moreau
Client Services & Operations Coordinator
Ye Zhou
Cross Border Tax Associate
