Air Canada, banks make C$2.25 billion bid for Aeroplan loyalty programs

Air Canada, banks make C$2.25 billion bid for Aeroplan loyalty program

Reuters) - Air Canada, two Canadian banks and Visa, offered on Wednesday to buy back the Canadian airline's previous Aeroplan frequent flyer program from Aimia Inc., for C$2.25 billion ($1.71 billion).

Air Canada, Canada's largest airline, spun off Aeroplan in 2002 to data analytics firm Aimia, and earlier this year said it would launch its own loyalty program.

Read more: Air Canada, banks make C$2.25 billion bid for Aeroplan loyalty programs

Canada's new export minister to push beyond U.S. market

Canada's new export minister to push beyond U.S. market

By Andrea Hopkins

OTTAWA (Reuters) - Canada has created a new Cabinet position to help exporters look beyond the United States and there will be resources for small businesses that want to take advantage of new trade deals, the new minister for export promotion said on Tuesday.

Mary Ng, who vaulted to Cabinet-level last week to take on an existing small business portfolio as well as a new one on export promotion, said she wants to help companies take advantage of new trade deals with the European Union and Pacific nations that have specific provisions to welcome small business trade.

Prime Minister Justin Trudeau's Cabinet shuffle put trade diversification front and center amid rising tensions with the United States, Canada's largest trading partner, with Ng and new Trade Minister Jim Carr tasked with finding new markets for Canadian goods.

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Exiting the Canadian Tax System Worry-free

Exiting the Canadian Tax System Worry-free

MovingMoving or working abroad does not necessarily mean you are considered a non-resident for tax purposes. Depending on your ties to Canada, number of days in Canada, and other factors, the Canada Revenue Agency (CRA) may consider you a factual resident, deemed resident, non-resident, or deemed non-resident.

Read more: Exiting the Canadian Tax System Worry-free

THE END OF THE VOLUNTARY DISCLOSURE PROGRAM?

THE END OF THE VOLUNTARY DISCLOSURE PROGRAM?

Wayne Bewick, CPA, CA, CPA (Illinois) Partner, Expatriate Tax
TROWBRIDGE
1-416-214-7833 x 101  
1-855-856-0829
This email address is being protected from spambots. You need JavaScript enabled to view it.

Current VDP guidelines allow Canadians who know they have made mistakes on their previous tax returns, from at least one year prior, to come forward and notify the Canada Revenue Agency (CRA) of their misfiled documents. They can then make the appropriate changes to the information without fear of prosecution. The proposed changes would drastically change these policies, including:

Read more: THE END OF THE VOLUNTARY DISCLOSURE PROGRAM?

Canadian Retirement Income… In The US:


Living in the US and receiving Canadian retirement income? Retirement small

Tips on reporting this income to the IRS and related issues

Many former Canadian residents prefer spending their retirement years in the US, especially in the Southern states with better climate and more affordable property values. But this triggers many complexities, especially in reporting Canadian retirement income to the IRS. This article will give some quick tips on reporting of such income to the IRS.

First of all, it is important to determine what type of retirement income you are receiving. Should a person be a resident of Canada, the income would be reported on various T-slips which include but are not limited to:

  • T4RSP slips – to report distributions from RRSP accounts which could be treated as annuity payments or regular account withdrawals;
  • T4A slips – various pension, retirement, annuity or other similar income;
  • T4A(P) slips – Canada Pension Plan benefits;
  • T4A(OAS) slips – Canadian old age security payments.
Read more: Canadian Retirement Income… In The US:

HST Housing Rebate

New Housing Rebate

The combination of the Goods and Services Tax (GST) and the Provincial Sales Tax (PST) into the Harmonized Sales Tax (HST) that has taken place in the provinces of New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario, and Prince Edward Island, has resulted in increased sales tax charged to purchasers of a number of consumer goods and services.

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Why Canadians Need to Buy International Health Insurance When Living Abroad

Why Canadians Need to Buy International Health Insurance When Living Abroad

portrait of medical professional SYHCUzCriMany Canadians are living abroad for work, retirement or simply roaming the world for an extended vacation. Many more are already living abroad. In fact, it has been reported by Expat Intelligence that there are almost 3 million Canadians living outside of Canada. So, aside from arranging transportation, schooling, housing and getting used to their new surroundings, what else do they need to take care of? As you can guess from the title of this article, international health insurance coverage.

Read more: Why Canadians Need to Buy International Health Insurance When Living Abroad

4 useful things to know before moving your family to Brazil

4 useful things to know before moving your family to Brazil

Moving your family abroad is a daunting task, from organising working visas and brushing up on a new language to packing up and shipping your possessions to your new home. Brazil is a country that comes loaded with stunning scenery, picturesque architecture and fascinating wildlife, and it’s also an increasingly popular destination for expats looking for a new adventure.

Read more: 4 useful things to know before moving your family to Brazil

Does My Spouse Become a Canadian Citizen When We Get Married?

Does My Spouse Become a Canadian Citizen When We Get Married?

Not surprisingly, this is actually one of the most common questions that we receive when it comes to immigration issues for Expats. However, the short answer to this is unfortunately, “No.”  Your spouse does not automatically become a Canadian Citizen when you get married.  In fact, he or she is not automatically eligible for even permanent residence status.  The road to citizenship follows the same path as those that do not have family connections.  An important number to remember is 1,095.  This is the number of days out of five years that one must be present in Canada in order to be eligible for Canadian Citizenship.

Read more: Does My Spouse Become a Canadian Citizen When We Get Married?

Supreme Court Has Granted The Canadian Expat Leave To Intervene in Case Regarding Voting Rights

The Canadian Expat is excited to announce that the Supreme Court of Canada has granted the Canadian Expat leave to intervene in the case before the court regarding the inability of Canadians living abroad for extended time to vote in federal elections.  This is a gigantic step as nearly half of applications to leave were rejected.  What this means is that the Canadian Expat will now formally be permitted to present information in support of the right to vote.

Read more: Supreme Court Has Granted The Canadian Expat Leave To Intervene in Case Regarding Voting Rights

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