Canadian International Taxation: Income Tax Rules for Residents

Are you a Canadian resident who is planning to invest in overseas markets, or is already doing so? If so, there are numerous income taxation rules that you should know about.

In this book you'll learn about:

•The four phases of internationalization in an individual's "tax life"
•Two key fundamentals that establish how international activities are taxed
•The special rules that are unique to international activities, including:

•Foreign tax credit rules
•Foreign dividend income taxation
•Foreign trust and foreign estate income taxation
•Foreign Accrual Property Income (FAPI) rules on Canadian-owned foreign corporations

•Foreign activity information reporting requirements imposed by the CRA
•The "departure year" rules and the so-called "departure tax" that would apply if you plan to become a non-resident of Canada in future

With the knowledge gained by reading this book, you can ensure that you comply with income tax and information reporting obligations, avoid potentially steep penalties from failure to comply with rules, and potentially minimize the income taxes related to your international activities.

This book is written for Canadian residents. Canadians who no longer reside in Canada, or are planning to relocate to another country in future, may also be interested in my other book, Canadian International Taxation: Income Tax Rules for Non-Residents.

Length: 52 pages