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Results: 1-10 of 10

New disclosure requirements and added relief for U.S. taxpayers with undisclosed foreign assets

  • Gowling Lafleur Henderson LLP
  • -
  • Canada, USA
  • -
  • March 9 2012

The U.S. government has recently embarked on an aggressive campaign to reduce international tax evasion by U.S. citizens or permanent residents with undisclosed income and assets located in foreign countries

CanadaSwitzerland: double tax treaty to meet OECD's standard on information exchange

  • Gowling Lafleur Henderson LLP
  • -
  • Canada, Switzerland
  • -
  • May 4 2011

On October 22, 2010 the Government of Canada and Swiss Federal Council signed a protocol (“Protocol”) to amend the 1997 Convention between Canada and Switzerland for the Avoidance of Double Taxation with Respect to Taxes on Income and on Capital (“Convention”

Tax planning for real estate investments in Canada by foreign investors

  • Gowling Lafleur Henderson LLP
  • -
  • Canada
  • -
  • August 12 2010

Thanks to the years of prosperity that both the residential and commercial Canadian real estate markets have enjoyed since the beginning of the new millennium, Canadian real property is still, today, a favoured type of asset for Canadian and foreign investors

No time like the present to declare previously unreported offshore income

  • Gowling Lafleur Henderson LLP
  • -
  • Canada
  • -
  • February 3 2010

As banking secrecy is eroded in formerly tight-lipped jurisdictions like Switzerland, there is no time like the present to come forward under the Canadian voluntary disclosure ("VD") program to declare previously unreported foreign income and avoid significant fines, penalties, interest and even potential criminal prosecution

Where does your trust live? New developments regarding the residency of trusts

  • Gowling Lafleur Henderson LLP
  • -
  • Canada
  • -
  • November 16 2009

The Income Tax Act does not provide a formula for determining the residency of a trust

PM encourages Canadian homeowners to take advantage of Home Renovation Tax Credit

  • Gowling Lafleur Henderson LLP
  • -
  • Canada
  • -
  • July 29 2009

Homeowners who are contemplating renovations have six months left to take advantage of the Home Renovation Tax Credit and save hundreds of dollars on their income taxes, Prime Minister Stephen Harper reminded Canadians today

A complicated simplification - new rules for the sale of taxable Canadian property by non-residents

  • Gowling Lafleur Henderson LLP
  • -
  • Canada
  • -
  • April 3 2009

Commencing January 1, 2009, new tax rules apply when non-residents of Canada sell taxable Canadian property such as shares of a private Canadian company

Income splitting opportunities: prescribed rate lowered to 1

  • Gowling Lafleur Henderson LLP
  • -
  • Canada
  • -
  • March 23 2009

One positive to take out of the current economic downturn will be the lowering of the prescribed rate to 1 between April 1 and June 30, 2009

Moving to the United States: tax consequences and planning opportunities

  • Gowling Lafleur Henderson LLP
  • -
  • Canada, USA
  • -
  • June 15 2008

Moving to the United States may raise all sorts of concerns for individuals resident in Canada, not the least of which are the potential tax consequences to such a move

Canadian immigration trusts

  • Gowling Lafleur Henderson LLP
  • -
  • Canada
  • -
  • July 23 2007

Like many other jurisdictions, Canada has a set of tax rules aimed at taking the tax advantage for Canadian taxpayers out of holding passive investments through offshore or "non-resident" trusts