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Frequent Business Travelers to the US and the New Treaty Protocol

by Joseph Truscott | Jan 6, 2020 | Taxation Articles by Joe Truscott

Most companies that send employees to the United States on short-term assignments or business trips have the “183-day rule” ingrained in their consciousness.  Many of these companies believe that as long as their employees do not spend more than 183...

Checklist of Important Information for the Preparation of the Terminal Income Tax Return

by Joseph Truscott | Jan 6, 2020 | Taxation Articles by Joe Truscott

The following are some of the more important material required. This list is not all inclusive. Prior 3 years income tax returnsFamily data including:name of spousepartnerdate of birthsocial insurance numbercitizenshipNames of children including:dates of birthsocial...

Severance Planning: Helping Clients Make the Most of their Packages

by Joseph Truscott | Jan 6, 2020 | Taxation Articles by Joe Truscott

If there is one sector of the economy that is doing well these days, it is the outplacement industry.  Those who provide career counselling to employees given the pink slip or an early retirement offer have seldom been busier.  And, of course, these...

Sale of Property by Non-Residents: New Rules for Withholding Tax

by Joseph Truscott | Jan 6, 2020 | Taxation Articles by Joe Truscott

Introduction Commencing from the beginning of 2009 new Canadian tax rules came into effect in respect of the sale of property by non-residents.  Whenever a non-resident is involved in a transaction, withholding tax requirements can arise.  The new...

Income Splitting Opportunities: Prescribed Rate Lowered to 1%

by Joseph Truscott | Jan 6, 2020 | Taxation Articles by Joe Truscott

One positive to take out of the current economic downturn will be the lowering of the prescribed rate to 1% between April 1 and June 30, 2009.  This presents opportunities for higher income earners to income split with their spouse, children, or grandchildren....

Personal Tax Returns: Late Filing Issues

by Joseph Truscott | Jan 6, 2020 | Taxation Articles by Joe Truscott

Just when we think the personal tax season is behind us, we start to hear from those clients who habitually file their returns late.  Often, their rationale is, “I always get a refund, so there is no sense being in a hurry.”  Many of us remind these...
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