Wealth and tax matters for individuals and private companies

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Wealth and Tax Matters 2013, Issue 2

It might be getting cold outside, but we have some hot topics in this edition – eight articles relevant to private businesses, executives, entrepreneurs and investors.

Canadian residents are subject to tax on their worldwide income. We begin with two articles that discuss how to determine residency, looking first at individuals, then at corporations and trusts. If you are liable to pay income taxes in Canada, or your company is, there’s an article to help you understand how to calculate that dreaded tax bill. Another explains how using your company to hold your investments can save and/or defer tax on income and capital gains.

Thinking about investing in offshore funds? Read about Canadian tax rules that may require you to report deemed income, not only increasing your tax bill but making it payable sooner. Recent expansion of the foreign reporting rules means you will need to factor in higher compliance costs when assessing the return on offshore investments.

While governments the world over are encouraging citizens to save for their retirement and are relaxing institutional funding requirements due to the recent market slump, Canada has defied international flows by radically increasing the Goods and Services Tax (GST) revenue extracted from managed wealth. Check out our enlightening article about the hidden tax on your investments. If you are a US citizen or resident, your tax bill may increase, starting 2013. The US government has introduced a new 3.8% Net Investment Income Tax (NIIT) to help pay for ‘Obamacare.’ We close with a tax saving strategy that can reduce your family’s overall tax burden and help ensure your child has a healthy registered retirement savings plan (RRSP) and tax-free savings account (TFSA).

We hope you will enjoy this edition and look forward to hearing your thoughts and comments.


Previous Editions

1.47 MB Wealth and tax matters for individuals and private companies 2013, Issue 1 (1.38 MB)
 
1.47 MB Wealth and tax matters for individuals and private companies 2012, Issue 2 (1.47 MB)
 
1.47 MB Wealth and tax matters for individuals and private companies 2012, Issue 1 (1.23 MB)
 
1.47 MB Wealth and tax matters for individuals and private companies 2011, Issue 2 (1.13 MB)
 
1.47 MB Wealth and tax matters for individuals and private companies 2011, Issue 1 (1.38 MB)
 
1.47 MB Wealth and Tax Matters: Winter 2011 (782 KB)