Wealth and tax matters for individuals and private companies

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Wealth and Tax Matters 2014, Issue 1

Welcome to the latest edition of Wealth and tax matters.

This edition includes eight articles on a variety of topics relevant to private businesses, executives, entrepreneurs and investors.

If you are – or might be – a US citizen, the first article will be of interest. Under US tax law, US citizens must meet certain US filing requirements, even if they live outside of the United States. Under the new FATCA rules, foreign financial institutions are now required to report to the IRS information about foreign financial accounts held by US persons. Learn about changes to the voluntary disclosure program that can help you comply before the IRS finds you.

Do you have a business? You may already appreciate the advantages of an estate freeze, but do you know whether you should sprinkle, multiply and waste? Are you dreaming about selling your business some day for a big pay-off? Read about why you need to plan early to maximize value by focusing on value drivers, identifying the right potential buyers and ensuring you are positioned to benefit from tax-saving measures.

Purchasing a US property can be an exciting opportunity, given recent market conditions. Structuring your purchase correctly from the start can save you hassles and tax burdens – but the solution is not one-size-fits-all. We have two articles – one dealing with US rental properties and the other with US vacation homes – that explain how your specific situation should dictate the balance between simplicity and sophistication, and the right structure.

Want to streamline your charitable giving? Read about how a donor advised fund could be a cost- and time-efficient alternative to a private foundation.

Are you aware that if you buy, sell or lease out a used home that has been or will be renovated, you might be subject to GST/HST? Find out what you need to know about your GST/HST obligations as well as rebate opportunities.

We finish with an article about recent changes to the CPP/QPP and OAS. Should you delay receipt of your CPP/QPP? Take it early? If you work after age 65, should you continue to contribute? Did you know that you can defer receipt of your OAS benefits by up to 60 months? The last article will help you decide.

We hope you will enjoy this edition and look forward to hearing from you.

Previous Editions

3.11 MB Wealth and tax matters for individuals and private companies 2013, Issue 2 (3.11 MB)
3.11 MB Wealth and tax matters for individuals and private companies 2013, Issue 1 (1.38 MB)