All About Estates

Tag: non resident

Total 2 Posts

Non-Resident Beneficiaries and Canadian Real Property: Canada’s hot housing market can increase the work of estate executors

Distributions from the estate of a Canadian resident to a non-resident can give rise to additional compliance obligations under section 116 of the Income Tax Act where the estate owns Canadian real estate.  The need for such a clearance certificate is determined based on the value of real estate held…

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TFSA’s and Non Resident Penalties – An Update

A couple years ago, one of my blog colleagues wrote on the residency rules regarding tax free saving accounts (TFSA’s). Generally, as an owner of TFSA, if you leave Canada, the accumulated funds may remain in the TFSA without Canadian tax consequences. You can’t make any further contributions but you…

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