lipards

Does anyone know anything about this 60 months tax holiday or immigration trust?
Thanks.

Tab

Apparently you can exempt non-Canadian assets from Canadian taxation for up to five years by placing them in a trust over which you do not have direct control, where the assets remain overseas. There are several commercial companies that provide these services, but I see no reason you cannot set it up without the assistance of a commercial company.

Please do not rely on my shallow understanding of this topic but rather seek professional assistance from a licensed Canadian tax attorney or accountant.

Good luck in exploring this option.

Andrew Miller

Consult tax expert - it is quite complex matter and it is not "tax holiday" of any kind, it only helps to defer tax from certain assets abroad. It has to be established prior to landing. It is not a DIY process - consult Canadian tax expert experienced in international taxation.

ben1970

Agreed see a good accountant/lawyer. So long as you don't bring it onshore after the 60 months you will not pay tax on it. (you have to show that you are bringing capital and not interest onshore to avoid tax)

lipards

OK, so I need to talk to expert before the actual landing...
But I am not there yet, how do I seek such service in Canada? Any good company to recommend? Thanks.

Andrew Miller

Try here:

http://www.serbinski.com/

lipards

Thanks. I will try it...