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Estate Planning in the COVID-19 Context

Recently, the world woke up to the health risks posed by COVID-19. Society at large is taking steps to curtail the impact of the virus. Closer to home, the virus should prompt people, especially those who are older, to make sure their affairs are in order. People...

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IRS Update on COVID-19 Relief

The IRS has just announced limited relief for certain taxpayers due to the COVID-19 pandemic (Notice 2020-17). However, as currently drafted, this relief would not apply to US citizens or residents residing abroad. In particular, section III of Notice 2020-17 grants...

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US Tax Refunds from Pooled Fund Investments

Many Canadian tax-exempt investors invest in US equities through a standard Canadian pooled fund. This means that they pay the 15% US dividend withholding tax on US equity investments. This can be refunded. To illustrate, assume that a Canadian charity invests in...

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Tax issues when Canadians have U.S. executors

A common and problematic occurrence in cross-border families is for a Canadian to select a close relative in the U.S. as an executor. Clients considering this option should weigh the potential consequences. To illustrate the problems, let’s use an example. Fictional...

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Questions?

If you’re looking for more clarity in your cross-border tax situation, contact Max Reed at
+1-604-283-9301 or via email at max@polaristax.com to find out how we can help you.