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March 25, 2023

Tax Perspectives

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Please note that these publications may not be up-to-date as taxation matters are subject to frequent changes.

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Canadian Perspectives - September 1998

    The information in this edition of Canadian Perspectives is prepared for general interest only. Every effort has been made to ensure that the contents are accurate as of September, 1998 but professional advice should always be obtained before actin

  • Offshore Trusts, Which Jurisdiction?
    By Thomas Lee, LL.M, FHKSA

    Offshore trusts remain the best tax planning tool for immigrants to Canada. By using them properly, tax can be avoided (legally) for a period of up to five years from the date of arrival. In some cases, this period can be extended. The trustees manage...

  • Foreign Reporting Modified, But Will Proceed
    By Michael Cadesky, FCA, TEP
    Cadesky and Associates LLP (Toronto)

    In 1996, Canada proposed a system for reporting foreign assets. This system was broken down into four basic categories, being:Personal holdings of foreign assets costing over $100,000 in totalShares of foreign affiliates...

  • Foreign Reporting Rules — Some Myths and Realities
    By Grace Chow, CA, TEP
    Cadesky and Associates LLP (Toronto)

    Canada's new foreign reporting rules have been extremely controversial, and highly criticized. However, aside from the compliance burden that they represent, there is really no need to be overly concerned. This short article is designed to clear up some...

  • Tax Tales — An actual case history
    By Elaine Pui, CGA, AHKSA

    Some people believe that falling markets in Asian countries makes the need for tax planning obsolete. If you agree with this, then the story below will interest you. Mr. Chow and his family (not his real name) moved to Canada in 1997 after working for...

  • Offshore Trusts Restructuring After Five Years
    By Michael Cadesky, FCA, TEP
    Cadesky and Associates LLP (Toronto)

    In previous issues of Canadian perspectives, we discussed the use of an offshore trust for immigrant tax planning. Generally, this trust has a usefulness of five years, and at the end of that period, a decision has to be made on whether to keep the...

  • Customs Duty
    By Grace Chow, CA, TEP
    Cadesky and Associates LLP (Toronto)

    If you are moving to Canada for the first time to make this country your permanent home, you can bring in your personal and household effects as settler's effects free of duties and taxes. However, you must have owned, possessed and used these goods...

  • Canadian Residency: The Basic Rules
    By Thomas Lee, LL.M, FHKSA

    One of the most fundamental and yet most confusing aspects of Canadian income tax is the concept of residency. It is fundamental, because a person's liability for Canadian income tax is dependent upon whether or not they are resident in Canada. It is...