International Tax Planning and Structuring
Tax Planning for New Immigrants to Canada
Canada offers tax exemptions and incentives for new immigrants. We are experienced in advising new immigrants on how to take maximum advantage of these benefits. We closely coordinate this tax planning with professional advisers in the immigrant’s country of origin.
Specifically, in tackling such an assignment we
- review the immigrant’s assets, sources of income, and personal situation to determine the most appropriate tax planning;
- prepare a memorandum indicating the recommended tax planning strategy, along with detailed steps for implementing the plan;
- introduce professionals in other jurisdictions, if necessary, to carry out the tax planning;
- prepare all required Canadian filings, which may include Canadian personal income tax returns and special foreign reporting forms;
- review the client’s overall estate planning objectives to make sure they are appropriate, and assist the client in designing new Canadian wills; and
- assist in ongoing taxation issues, such as ways of receiving remuneration or a foreign inheritance.
Sometimes valuations are required in this type of work. If so, we can arrange for valuation reports in a format that is acceptable to Canadian tax authorities.
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