Cross-border

Cross-border

Foreign exchange and capital gains reporting

What is the impact of foreign exchange associated with foreign-denominated capital assets or resulting from the conversion of foreign currency? In particular, when are capital gains generated and when do they have to be reported?

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Cross-border

Passive Foreign Investment Company (PFIC) reporting for U.S. persons

This communication outlines two points:

- CI Investments provides the Annual Information Statement (AIS) for its U.S. taxpayer clients holding CI funds; and

- Explains how CI mutual fund trusts and Corporate Class are treated for U.S. tax purposes, the various methods of reporting income and capital gains and FAQs.

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Cross-border

U.S. Tax Ties - Part 2: US Taxpayer

Do you have clients that are U.S taxpayers by virtue of holding a valid U.S. Green card or who were born in the U.S.?  If so, this piece discusses briefly the impact their U.S. Tax status has on select Canadian investment accounts, Canadian investment solutions and their tax and wealth transfer planning needs.

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Cross-border

U.S. Tax Ties - Part 1: Snowbird

Do you have snowbird clients that escape Canadian winters to the sunny skies of the U.S.? This informative piece touches on how they unknowingly may become subject to U.S. Taxation - both income and/or estate tax, and how they can avoid or minimize.

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Cross-border

Substantial presence and Form 8840

Do you have clients who are Snowbirds? This webcast steps through the two 183 day tests and the US Closer Connection Exception Statement for Aliens Canadian Snowbirds should be aware of.

Clients that own foreign assets, spend a significant amount of time in a foreign country, have tax ties to another tax jurisdiction, or have emigrated from Canada have potentially complex tax, retirement and estate planning considerations. Awareness of foreign tax and estate legislation, along with any potential impact to Canadian investment accounts and solutions is prudent when working with these clients.