I missed blogging last week for what I think was a very good reason: I am on the planing committee for a golf tournament for the Barrie Women and Children's Shelter. This was the third annual tournament, but we still needed to be planning since September of last year,...
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Tax
Tax breaks for space burials
Here's a new one: the state of Virginia is considering offering a tax break for anyone who agrees to have their cremated remains sent into space. The state is looking to increase revenues for the Mid-Atlantic Regional Spaceport, and is considering tax breaks as a...
Tax breaks for accidental Americans
A while ago, I blogged about the tax consequences of being American outside of the United States. Americans are taxed based on citizenship, and so Americans living in Canada still have to file their taxes with the IRS, even if they have become Canadian citizens and...
Taxing Americans
The Globe and Mail published this article a few weeks back about Americans living in Canada who are abandoning their citizenship for tax reasons. In the US, citizens are taxed based on their citizenship, wherever they are in the world. In Canada, by contrast, we are...
When do you have to pay HST on a house?
In Ontario, HST always applies to the purchase of land unless there is a specific exemption. For most residential resale transactions, there is an HST exemption in place so that it does not apply. For many new homes, there are significant rebates for HST, as long as...
The accidental American
There are many people living in Canada with dual Canadian-American citizenship. In Canada, taxation is based on residency: if you live here, we want your money. In the US, taxation is based on citizenship: if you’re American, they want your money, regardless of...