Tax Planning for New Immigrants to Canada
Canada offers generous tax exemptions and incentives for new immigrants. We are very experienced in advising new immigrants on how to take maximum advantage of these exemptions and incentives. We closely coordinate this tax planning with professional advisers in the immigrant's country of origin.
With appropriate planning, a tax exemption can be obtained for up to five years on foreign income and capital gains, using a non-resident trust. We are experts in structuring these trusts, and can also refer the client to professional trustees in offshore jurisdictions who will handle the management and administration of the trust. Specifically, in tackling such an assignment we
In addition, we assist with restructuring the overall tax planning when the five-year tax-exempt period expires, or should the immigrant choose to leave Canada at any time. We take a strategic approach to these assignments, with a long-term focus on tax minimization and wealth preservation.
Sometimes valuations are required in this type of work. If so, we can supply valuation reports in a format that is acceptable to Canadian tax authorities.