THE END OF THE VOLUNTARY DISCLOSURE PROGRAM?

THE END OF THE VOLUNTARY DISCLOSURE PROGRAM?

Wayne Bewick, CPA, CA, CPA (Illinois) Partner, Expatriate Tax
TROWBRIDGE
1-416-214-7833 x 101  
1-855-856-0829
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Current VDP guidelines allow Canadians who know they have made mistakes on their previous tax returns, from at least one year prior, to come forward and notify the Canada Revenue Agency (CRA) of their misfiled documents. They can then make the appropriate changes to the information without fear of prosecution. The proposed changes would drastically change these policies, including:

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Canadian Retirement Income… In The US:


Living in the US and receiving Canadian retirement income? Retirement small

Tips on reporting this income to the IRS and related issues

Many former Canadian residents prefer spending their retirement years in the US, especially in the Southern states with better climate and more affordable property values. But this triggers many complexities, especially in reporting Canadian retirement income to the IRS. This article will give some quick tips on reporting of such income to the IRS.

First of all, it is important to determine what type of retirement income you are receiving. Should a person be a resident of Canada, the income would be reported on various T-slips which include but are not limited to:

  • T4RSP slips – to report distributions from RRSP accounts which could be treated as annuity payments or regular account withdrawals;
  • T4A slips – various pension, retirement, annuity or other similar income;
  • T4A(P) slips – Canada Pension Plan benefits;
  • T4A(OAS) slips – Canadian old age security payments.
Read more: Canadian Retirement Income… In The US:

HST Housing Rebate

New Housing Rebate

The combination of the Goods and Services Tax (GST) and the Provincial Sales Tax (PST) into the Harmonized Sales Tax (HST) that has taken place in the provinces of New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario, and Prince Edward Island, has resulted in increased sales tax charged to purchasers of a number of consumer goods and services.

Read more: HST Housing Rebate

4 useful things to know before moving your family to Brazil

4 useful things to know before moving your family to Brazil

Moving your family abroad is a daunting task, from organising working visas and brushing up on a new language to packing up and shipping your possessions to your new home. Brazil is a country that comes loaded with stunning scenery, picturesque architecture and fascinating wildlife, and it’s also an increasingly popular destination for expats looking for a new adventure.

Read more: 4 useful things to know before moving your family to Brazil

Does My Spouse Become a Canadian Citizen When We Get Married?

Does My Spouse Become a Canadian Citizen When We Get Married?

Not surprisingly, this is actually one of the most common questions that we receive when it comes to immigration issues for Expats. However, the short answer to this is unfortunately, “No.”  Your spouse does not automatically become a Canadian Citizen when you get married.  In fact, he or she is not automatically eligible for even permanent residence status.  The road to citizenship follows the same path as those that do not have family connections.  An important number to remember is 1,095.  This is the number of days out of five years that one must be present in Canada in order to be eligible for Canadian Citizenship.

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Supreme Court Has Granted The Canadian Expat Leave To Intervene in Case Regarding Voting Rights

The Canadian Expat is excited to announce that the Supreme Court of Canada has granted the Canadian Expat leave to intervene in the case before the court regarding the inability of Canadians living abroad for extended time to vote in federal elections.  This is a gigantic step as nearly half of applications to leave were rejected.  What this means is that the Canadian Expat will now formally be permitted to present information in support of the right to vote.

Read more: Supreme Court Has Granted The Canadian Expat Leave To Intervene in Case Regarding Voting Rights

Trowbridge Professional Corporation Tax Seminars- Fall 2016 Tour

Starting on October 24th , Trowbridge Professional Corporation will begin a fall road trip to Singapore, Australia, Cayman Islands and Bermuda to hold free seminars covering (among other topics):

  • Canadian residency for tax purposes

  • Canadian filing and reporting requirements

  • Tax planning for Canadian expats, either departing Canada or arriving in Canada

  • Ownership of property in Canada and the tax implications for Canadian non-resident

  • Tax implications for ownership of investments in Canada and abroad for Canadian non-residents

  • AND Questions about other expatriate tax issues will be answered

If you have any questions at all about your tax situation in regards to how it might relate back to Canada, take advantage of these opportunities to meeting with one of the most experienced firms in Canada.

Read more: Trowbridge Professional Corporation Tax Seminars- Fall 2016 Tour

What Lies Beneath- A Canadian Expat's perspective

As a Canadian expat living in Riyadh, Saudi Arabia, the ongoing discussion regarding Zunira Ishaq’s desire to wear a niqab during her Canadian citizenship ceremony is very interesting from myriad perspectives. Equally intriguing are the opinions put forth by Manitoban Hutterite, Mary-Ann Kirby on the Oct. 9th, 2015 CBC News regarding her mother who chose to wear a distinctive, traditional headscarf, along with those expressed by Edmonton Journal columnist Paula Simons in her article published Oct. 4, 2015, ‘Don’t Like the Niqab? Don’t Wear One.’

Read more: What Lies Beneath- A Canadian Expat's perspective

Canadians living abroad can vote in the federal election

 

electionsCanadaThere are millions of Canadians who, for personal or professional reasons, have chosen to live outside of Canada. Some are away only for a few months, while others may remain abroad for years. No matter where they find themselves, Canadians living abroad often have the same question: How can I vote in Canada’s federal election?

 

To be eligible to vote by mail, Canadians living abroad must meet four criteria:

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9 Pieces of Tech for Expats

Skype small1) Skype/FaceTime
As an Expat, connecting with home can be difficult. Ensuring that you have access to Skype, FaceTime or some other video chat service can help you remain connected to your family and friends back home. Regardless of where you are, an internet connection is all you need to “drop in” for family dinner or catch up with Grandma.

Read more: 9 Pieces of Tech for Expats

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