Wednesday, 14 September 2016

Originally posted on Face book as "Financial Planning Tip April 9, 2016 - 003 Dual Resident II"

"According to Jamison Aldcorn, author of Contemporary Practices in Financial Planning (CCH/Advocis Education Programm) " Canada has signed treaties with many different countries that mediate ultimate residency for tax purposes. Each treaty maintains a tie- breaker rule to determine ultimate residency for the purposes of avoiding double taxation."

Thus, now may be a good time to start searching for those treaties if you plan to hold or trade in foreign currencies. 

You may need to know if the income earned may be subject to tax of some sort.

Here is a link to the BIR website which provides access to the various Double Taxation Treaties (DTT), ( T&T signed a DTT with Canada in 1976)

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