Canadians can immediately take advantage of the proposed $10,000 Tax-Free Savings Account annual contribution limit

April 24, 2015 – Ottawa, Ontario – Canada Revenue Agency The Honourable Kerry-Lynne D. Findlay, P.C., Q.C., M.P., Minister of National Revenue, and the Honourable Joe Oliver, Minister of Finance, are advising Canadians that the Canada Revenue Agency (CRA) is allowing individuals to immediately benefit from the proposed increase to the Tax-Free Savings Account (TFSA)…

TFSAs a new tax risk for Americans living in Canada?

Barbara Shecter | 13/03/08 | Last Updated: 13/03/08 5:08 PM ET More from Barbara Shecter Americans living in Canada have already found themselves in the sights of the Internal Revenue Service, but a Canadian tax expert is warning that they should pay particular attention their use of investment vehicles such as the Tax Free Savings Account. Dick Pound, a…

Featured letter: Canadian tax shelters offer no refuge from Uncle Sam

EDMONTON JANUARY 14, 2013 Finance Minister Jim Flaherty says Ottawa is “nearing a conclusion” on implementing the U.S. Foreign Account Tax Compliance Act (FATCA) that would compel Canadian financial institutions to report on the accounts held by Americans. This is part of a broader campaign by the U.S. Internal Revenue Service that threatens stiff penalties to…