Planning Considerations for Medical Professional Corporations Selling Securities Prior to June 25, 2024

May 09, 2024 |Charles W. Cullen III
Canada's recently unveiled 2024 federal budget proposes to increase the capital gains inclusion rate to 66.67% from 50%. This article focuses on the impacts this may have on your medical professional corporation (MPC) and whether you should consider selling...
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FHSA Quick Tips

May 02, 2024 |Charles W. Cullen III
With spring normally being a busy time for buyers and sellers of homes, we thought it would be good to review Canada's newest registered account, the First Home Savings Account (FHSA). For information on how they work, please click below. To see how it...
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2024 Federal Budget - Planning for the Proposed Increase to the Capital Gains Inclusion Rate

April 25, 2024 |Charles W. Cullen III
The recently released federal budget proposes to increase the capital gains inclusion rate to 66.67% from 50%. This change is scheduled to come into effect on June 25th, 2024. Although there are still lots of unanswered questions, there are already some...
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Canadian Non-Resident Withholding Tax

April 10, 2024 |Charles W. Cullen III
For non-residents of Canada that have Canadian sourced income, it is important to understanding the potential withholding tax implications. As always, for a more detailed discussion, please reach out. Click Here
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Passive Foreign Investment Company (PFIC) Rules

April 09, 2024 |Charles W. Cullen III
For U.S. persons living in Canada, knowing the Passive Foreign Investment Company (PFIC) rules is extremely important. Examples of holdings that typically fall under these rules are Canadian mutual funds and exchange trade funds. For more information...
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Canadian Owners Renting or Selling U.S. Real Estate

April 04, 2024 |Charles W. Cullen III
Looking to escape the long and cold winter, many Canadians are now called "snowbirds" - flocking to popular warm-climate destinations in the U.S. However, owners of these properties should be aware of the potential U.S. tax issues they may face. For more...
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Alter Ego and Joint Partner Trusts for U.S. Persons

March 28, 2024 |Charles W. Cullen III
Trusts are complicated. They becoming even more complicated when a U.S. person living in Canada opens a Alter Ego Trust or a Joint Partner Trust as they must be aware of both the Canadian and U.S. tax and estate planning implications. For more information...
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Determining Your Tax Residency Status in Canada

March 21, 2024 |Charles W. Cullen III
In Canada, unlike the U.S., the income tax system is based on Canadian residency status. This articles discusses some of the factors that are considered when determining your residency status for Canadian tax purposes and some potential implications....
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Moving to Canada from the U.S.

March 14, 2024 |Charles W. Cullen III
Are you a U.S. citizen or green-card holder who is moving to Canada? One thing you should be aware of is that you will be subject to both the Canadian and U.S tax system. For help navigating this and other cross-border considerations, please reach out...
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Moving from Canada to the U.S.

March 07, 2024 |Charles W. Cullen III
There are many reasons why Canadian's find themselves moving to U.S. Regardless of the reason, it is important to be aware of the tax and estate planning issues that can arise as a result of your move as well as planning opportunities you may be able...
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