voluntary disclosures program

Tax Disputes & Litigation

Potential Changes to the Voluntary Disclosures Program

The Voluntary Disclosures Program (VDP) is in the crosshairs as the Canada Revenue Agency, and federal government more broadly, continue to target tax evasion and avoidance by the wealthiest Canadians. How the Voluntary Disclosures Program operates In its current framework, the VDP attempts to encourage tax compliance by individuals and other entities that would like to correct any errors or omissions in their past returns. Eligible taxpayers must pay any taxes owing, but may… Read More

Personal Tax Planning

How Ontario’s Fair Housing Plan Will Impact US Buyers

Ontario recently announced its Fair Housing Plan, which includes a “Non-Resident Speculation Tax” that will impact all US buyers of residential property in Ontario. With an eye to keeping housing prices from climbing out of reach for most buyers, the Ontario government has implemented a 15% Non-Resident Speculation Tax. What purchases are subject to the Non-Resident Speculation Tax? The tax applies to any purchase or acquisition of residential property containing up to six… Read More

Business Expansion to the U.S.

Growing Concerns for Cross-Border Trade

In a series of comments targeting the American-Canadian trade relationship, the US administration has created even greater uncertainty among businesses in Canada that benefit from cross-border trade with the United States. Recent executive actions hurt the cross-border trade relationship In addition to targeting softwood lumber with hefty import duties averaging around 20%, the American president has also targeted the Canadian dairy and, confusingly, energy industries with bombastic rhetoric, alleging unfair practices. Behind the noise… Read More

Corporate Tax Planning

Extended US Tax Filing Deadline for Non-Residents

If you are an American citizen or green card holder living and working in Canada, did you remember to file your US tax returns? Every American person needs to file a return on their worldwide income, even if they haven’t lived in the United States for years. If you didn’t file a return, or perhaps missed the April 18 US tax filing deadline, don’t panic: you may qualify for an automatic two month extended deadline… Read More

professional athletes

Sports & Entertainment

Tax Planning for Professional Athletes

Professional sports is a global industry, and many professional athletes in North America will spend time in both Canada and the United States at some point in their careers. Regardless of their home team, athletes travel throughout Canada and the United States for training camps and road games. Professional athletes traveling between Canada and the United States With any amount of cross-border travel, tax planning issues can arise. For professional athletes, many of whom… Read More