News & Articles

Americans Exiting Canada: Understanding the Five-Year Deemed Disposition Rule

August 27, 2015
American citizens living in Canada for more than five years face an imposed exit tax on unrealized gains. One of the most common questions we receive from Americans moving to Canada is how to navigate around the Canada Revenue Agency’s five-year deemed disposition rule. Canada assesses an exit tax on any unrealized capital gains inside

Terry Ritchie, U.S., Canada Now Tracking Snowbirds More Closely

August 5, 2015
Americans living in Canada face tax-reporting obligations that can be burdensome—even to the point where one might consider renouncing their citizenship. Our advice is to take a step back and think it through. As Terry Ritchie explained recently in this Globe and Mail video segment, renouncing one’s citizenship not only involves administrative hurdles, but can

Canada & U.S. Education Savings Options

June 10, 2015
“The Simpsons” is a funny show, and that’s despite—or maybe because of—the fact that it often tackles the issues that make us most anxious. Take the episode in which Bart terrifies Homer with a campfire story about college costs for Maggie. The scene ends with Homer shrieking, “No! No! Noooo!” I suspect that Homer speaks

California Residents: Does Your Financial Advisor Tax-Manage Your RRSPs?

May 27, 2015
California residents who hold RRSPs, LIRAs, RRIFs or other Canadian tax-deferred accounts are subject to a unique set of tax planning and reporting requirements. Unlike most states, California does not allow Canadian retirement accounts to grow on a tax-deferred basis. And that can present a serious income-tax problem for residents of California, given the fact

Options for your CAD Non-registered assets when moving to and/or living in the U.S

May 19, 2015
The strong U.S. dollar has created new challenges for those moving to the United States from Canada—but understanding these challenges, and your options, can help you to navigate the financial transition as smoothly as possible. Here’s the background. The Canadian dollar is currently valued around 0.80 versus the U.S. dollar, a big departure of 0.90

Estate Planning and Digital Assets

April 17, 2015
Imagine if you were to die tomorrow what your email account would provide for your loved ones: access to your contacts, personal and business communications, photos, and memories. While an email account may not be worth anything in terms of an estate, it could have a high emotional value for those closest to you. Now

While Advice May Benefit Investors, Active Management Can Prove Costly

March 3, 2015
In 2014, investors in Canadian-based equities watched while the majority of actively managed funds failed to meet their benchmarks, let alone outperform their passive counterparts such as index funds and exchange-traded funds (ETFs). According to Standard & Poor’s Dow Jones Indices vs. Active Funds (SPIVA) Canada Scorecard1, only 32% of actively managed mutual funds beat

Spreading your eggs across many baskets: Why drop in oil should be a lesson to diversify

February 24, 2015
The rate at which energy prices have fallen has caught many by surprise. Oil prices alone are down more than 50% since June 2014. While the drop in oil has lowered the gas bills for many Canadians, there are other impacts affecting households throughout the country. In Alberta for example, there have been layoffs in

Can A Foreign Spouse Claim U.S. Social Security?

February 16, 2015
We were recently engaged by an American citizen who wanted to know if her Canadian spouse can claim her U.S. Social Security spousal and survivor benefits. Both she and her husband reside in Ontario, Canada. U.S. Social Security benefits can be received in Canada free of U.S. tax. In this post, we will explain how,
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