International Tax Planning and Structuring
Tax Planning To Become Non-Resident
Canada is a land of immigrants. While more people arrive than leave, a sizable number emigrate for personal, financial, retirement, or tax reasons. Some are simply returning to their country of origin, others move for lifestyle or tax reasons and often both.
We can advise on the tax consequences of leaving Canada, recommend the optimal way to tackle various issues such as departure tax and withdrawal of amounts from retirement plans and determine the tax treatment of such items in the country to which the person is moving. We can also assist with interpreting and using various international tax treaties.
We are very experienced in planning with corporate structures and trusts in connection with a move. Sometimes this can greatly reduce the tax involved on exit.
We will prepare a checklist of how to sever ties to Canada to ensure a clear break of residency status and provide detailed advice on all aspects of the Canadian tax issues.
When necessary, we coordinate valuation reports to support the tax planning or tax returns. In addition, we can prepare the tax returns for the year of the move.
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