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Immigrants should build TFSAs while waiting for RRSP eligibility

Shortly after she moved to Toronto from Hong Kong 20 years ago, May Fung learned about a fifth season in Canada, one that didn’t appear anywhere on her calendar: RRSP season. “When I found out about the tax rates in Canada – which were very high compared to what I was accustomed to in my […]

Look before you leap – Tax issues of owning a U.S. property

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When Canadians think about another long Canadian winter, the anticipation of an annual sojourn to the sunny south is especially appealing. For many, purchasing a second residence in the United States is an attractive alternative. However, significant tax planning, financial planning and estate planning implications accompany the purchase of foreign property. It’s important to do […]

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