Published: April 13, 2020
Last Updated: April 13, 2020
Canadian residents are required to report worldwide income from all sources for Canadian Income Tax purposes. If you fail to do this, or if you choose an offshore structure that violates the intention or spirit of the Canadian Income Tax Act, you could face a battle with the Canada Revenue Agency, and if you lose you will be subject to interest and penalties. We are a Toronto income tax law firm who can advise taxpayers in any Canadian province and assist non-residents immigrating to Canada.
"This article provides information of a general nature only. It is only current at the posting date. It is not updated and it may no longer be current. It does not provide legal advice nor can it or should it be relied upon. All tax situations are specific to their facts and will differ from the situations in the articles. If you have specific legal questions you should consult a lawyer."