Cadesky Tax is an independent tax consulting firm.

About Cadesky

About Cadesky Tax

We work with a wide range of clients including private businesses, owner-managers, multi-jurisdictional families and businesses, multi-national corporations and high net worth individuals to help them with tax efficient strategies. Our services include estate planning, corporate restructuring, international and Canada-US cross border planning and transfer pricing. Through Cadesky US Tax, we assist with US tax filings.

With our many years of experience, our professional team aims to deliver excellence in tax planning services. In addition to working in tandem with the client’s existing professional team, we have a wide network of professionals in Canada, the US and internationally which allow us to provide seamless services. We work in collaboration with the International Tax Specialist Group (ITSG). This international network enables us to access experienced Tax Professionals in over 30 countries around the Globe.

What's New

Canada’s Financial Support During the COVID-19 Pandemic

May 15, 2020

The Canadian federal government has announced, in addition to extensions to some filing and payment deadlines, a number of measures to financially help Canadian individuals and businesses survive the economic impact of the COVID-19 pandemic. In addition to the extended filing and payment deadlines, several programs were created to support individuals, businesses and specific sectors: Limited Wage Subsidy, The Canada Emergency Wage Subsidy, The Canada Emergency Business Account, The Canada Emergency Commercial Rent Assistance Program, The Business Credit Availability Program, The Large Employer Emergency Financing Facility, The Canada Emergency Response Benefit and The Canada Emergency Student Benefit...

March 27, 2020 Update to COVID-19 Related Tax Extensions

March 27, 2020

In response to queries regarding filing matters that seemed not to be addressed in the CRA’s previously announced tax filing and payment extensions on March 27, 2020 the CRA issued welcome clarifications. The CRA has agreed to defer to June 1, 2020 a number of additional administrative tax actions that are due after March 18, 2020. The March 27, 2020 CRA release states that, unless otherwise noted, the administrative actions to which the extension applies “include the filing of returns, forms, elections, designations and responses to information requests”. The CRA has summarized their updated positions in a schedule on their website...

March 24, 2020 Update of COVID-19 Related Tax Extensions

March 24, 2020

The CRA has updated its table of payment and filing extensions. Please note that, contrary to the date mentioned in the government’s prior release about extensions, tax payments for many entities are now confirmed to be due “by September 1, 2020” rather than “After August 31, 2020”. Of important note is the fact that there are, currently, no extensions to the following filing due dates...

Newsletters

U.S. Tax Tip: GILTI (Global Intangible Low Taxed Income)

Aug 21, 2020

There are a couple of developments on the GILTI front that readers may find interesting.  First, last month the IRS issued final and proposed regulations involving GILTI and the high-tax exclusion.  Second, one of Democratic U.S. Presidential nominee Joe Biden’s tax proposals is the doubling of the effective GILTI corporate tax rate from 10.5% to 21%.

To understand the potential impact of these, you first need to have a general understanding of what the GILTI provisions are meant to do and their current impact.

Tax Tip: CRA Extensions v1.1

Jul 29, 2020

On July 27, 2020, the Canada Revenue Agency (the “CRA”) announced a further extension to the tax payment and filing due dates for certain taxes from September 1, 2020 to September 30, 2020. The extension applies to current year individual, corporate, and trust tax returns, as well as instalment payments. Interest will not be charged on these amounts if payments are made by the extended deadline of September 30, 2020. Whether or not full payment is required in order to receive this relief is unclear.

U.S. Tax Tip: Revocable Living Trusts

Jun 23, 2020

It is a fairly common estate planning technique in the United States to utilize a revocable living trust (“RLT”) as part of a “United States person’s” estate planning. For U.S. estate tax purposes, a United States person would include a U.S. citizen and a U.S. domiciliary. What is not so common though, is the potential foreign impact when the underlying U.S. grantor moves to a foreign jurisdiction.

U.S. Tax Tip: Economic Impact Payments – An update

Jun 08, 2020

In prior U.S. Tax Tips we discussed the requirements for qualified U.S. taxpayers to receive the Economic Impact Payment. The Economic Impact Payment (“EIP”) is part of the CARES Act and represents a pre-payment of a 2020 tax credit of US $1,200 per “eligible individual” and an addition US $500 per “eligible child.” Technically this credit will be claimed as part of their U.S. personal income tax return (if one is required to be filed). The payment is not limited to U.S. residents but includes “eligible individuals” who live outside the United States. Many of our clients have received their payments.