Canadian residents who receive old age pensions from Germany are obliged to submit a Tax Declaration in Germany for the years 2005 to current. The deadline for these submissions is the end of this calendar year. There is an Agreement on Double Taxation between Canada and Germany that provides that benefits under the... 

Transparency in the Financial Service industry as it pertains to costs, hidden fees and commissions are spreading throughout the world. Australia, Britain and the U.S. have passed laws or are in the process of passing laws that will or have changed the way Financial Adviser’s conduct their business. Canada,... 

As I have reported, the IRS and CRA are allocating more and more resources to global tax collection and enforcement. The IRS has recently set up a new department to concentrate on this. The new department will be 1500 strong (in addition to the 400 currently working on Offshore bank accounts) and concentrate on S... 

Recently I had a client telling me how a friend of his had taken a contract position in an oil rich tax free haven. The friend had packed up his family and taken a leave from his regular position and worked for 12 months. Even alot of his expenses were covered and he was able to bank most of his income. My client... 

Nearly a year ago the Swiss financial – services regulator ordered UBS to hand over 300 accounts to US authorities to settle a tax dispute. A Swiss court has now ruled that the financial regulator acted in an unlawful manner. According to the Wall Street Journal this ruling will have no effect  on the civil... 

One of the questions I am frequently asked by Canadians is “how do I get the withholding on my Las Vegas winnings back?” We are starting to see television ads proclaiming “We can get your withholding back!” It is possible but it is not automatic and is not simply a matter of asking for it back. Under... 

What can happen if you are in the U.S. more than the IRS’s number of days? Most snowbirds still do not believe that they may be required to file income tax forms with the IRS if they are in the United States anywhere close to the commonly believed 6 month rule. Generally the six months applies to health insurance... 

Canadians who leave Canada have to file an exit tax return listing all assets cost and market value. CRA says it as if you sold everything and bought it back i.e. changing your ACB but triggering an income tax bill. If you paid a departure tax you may be eligible for a refund if a particular asset was sold for less... 

The two issues that must be taken care of prior to moving for any Canadian contemplating emigration are Health Insurance and a legal means of living in that other country. When re-locating to the U.S. there are a few categories of visas that can be considered for businessmen. One of the advantages of the business visa... 

What appears to be the next “growth” area for income tax collection with the countries in the G20? All of the countries in the G20 appear to be targeting their citizens deposits and investments in low tax and tax free havens. Switzerland and 12 other tax haven countries recently signed tax information sharing...