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Insight on what’s happening in the world of tax, law and accounting so you can stay ahead.

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Kenneth Keung is quoted in the Investment Executive article titled “Quirk in capital gains tax rules raises risks for incorporated clients,” published on July 24, 2024.

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Kenneth Keung is quoted in the Investment Executive article titled “How should trusts flow out capital gains to beneficiaries in 2024?”, July 5, 2024.

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Kim G C Moody, Kenneth Keung, and Christopher Ellett are quoted in the Investment Executive article titled “When is the latest clients can sell assets prior to June 25?”, published on May 17, 2024.

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Alexander Marino recently appeared on the Global Investment Voice Podcast to discuss the benefits of renouncing US citizenship on March 14, 2024.

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Alexander Marino guested on the Snowbirds US Expats Radio Podcast about the benefits of renouncing your US citizenship on January 17, 2024.

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Challenges Canadians face when transferring US retirement plans to an RRSP

Canada and the US share many similarities including the longest international border between two countries. Due to the proximity of the two countries, many Canadians find themselves living and working in the US and contributing pre-tax dollars into employer-sponsored retirement plans such as the 401(k) and Individual Retirement Account or IRA (collectively, US-based retirement plans). Once their US employment ends, many Canadian workers returning to their home country must eventually undertake the task of determining what to do with their US-based retirement plans as retirement age draws near (the Canadian retirees).

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The Canadian Broadcasting Corporation’s continued attack on the tax profession

The Canadian Broadcasting Corporation (“CBC”) just can’t seem to help itself. It really must think it has a good story given the fact that it is acting like the proverbial dog who has a tasty bone and won’t drop it. I’ve written about the CBC’s attacks on the tax profession before and you can read it here.

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Alberta Investor Tax Credit program – even more bad news

On January 17, 2017, I published a blog about the new Alberta Investor Tax Credit programs. For those of you who read my original blog, you’ll know that I was and remain very critical about the new programs. Subsequent to the publishing of my article, some astute readers in the Alberta business and technology industry brought two potential deal killers for the Alberta Investor Tax Credit (AITC) to my attention. A third item, discovered on another read-through of the regulations enacted to implement the many prescribed rules related to the AITC, concerns overreaching Ministerial discretion which, in my view, too easily lends itself to politically motivated denial of the credit. Accordingly, the purpose of this follow-up article is to bring the two deal killer issues to your attention and raise the concern of the overreach that I have subsequently identified.

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Trump’s NAFTA pledge threatens US expats in Canada

Donald Trump infamously called the North American Free Trade Agreement (NAFTA) “the single worst trade deal ever approved by [the United States]”[1] and vowed to withdraw from the deal once elected. This policy was such a core plank of his platform that as soon as it become abundantly clear that Trump would win the U.S. election, the value of Mexican Peso relative to U.S. dollar dropped precipitously under the expectation that the U.S. would likely withdraw from NAFTA.[2]

Since then, much has been written about the potential economic fallout caused by Trumps pledge. However, little has been written about what might happen to Americans who are working in Canada.

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New Alberta Investment Tax Credits – Great for Business or Bureaucrats?

As the new Alberta Investor Tax Credit (“AITC”) and Capital Investment Tax Credit (“CITC”) were making their way through the Alberta Legislature I wrote an article for the Canadian Tax Foundation which appeared in the January 2017 issue of “Tax for the Owner Manager” and can be accessed here. Bill 30, which contains the two credits, became law on December 9, 2016. The draft legislation discussed in my article was only cosmetically changed with 4 amendments accepted at the end of November.

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The 2017 tax crystal ball

Well, it’s that time of year when people start to wind down for the holidays and get ready to spend time with family. For me, I’m not immune to that. I’m very much looking forward to gathering my wife and kids around the fire and the Christmas tree to have a lively discussion about what 2017 might look like in the tax world. Accordingly, consider this short blog a preview of the riveting Moody family holiday discussions. And, yes, my family can’t wait!

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***CLICK FOR ALL NEWS***

Kenneth Keung is quoted in the Investment Executive article titled “Quirk in capital gains tax rules raises risks for incorporated clients,” published on July 24, 2024.

***CLICK FOR ALL NEWS***

Kenneth Keung is quoted in the Investment Executive article titled “How should trusts flow out capital gains to beneficiaries in 2024?”, July 5, 2024.

***CLICK FOR ALL NEWS***

Kim G C Moody, Kenneth Keung, and Christopher Ellett are quoted in the Investment Executive article titled “When is the latest clients can sell assets prior to June 25?”, published on May 17, 2024.

***CLICK FOR ALL NEWS***

Alexander Marino recently appeared on the Global Investment Voice Podcast to discuss the benefits of renouncing US citizenship on March 14, 2024.

***CLICK FOR ALL NEWS***

Alexander Marino guested on the Snowbirds US Expats Radio Podcast about the benefits of renouncing your US citizenship on January 17, 2024.