Month: March 2023

Underused Housing Tax  The federal Underused Housing Tax Act became effective January 1, 2022, and the first tax returns for those who need to file are due in 2023. It imposes a 1% annual tax on the value of residential real estate in Canada owned by any non-resident, non-Canadian that

What is the current state of play when it comes to U.S. estate tax, including its impact on many Canadian tax residents and others with U.S. connections? First, an update on some key tax rates and concepts for 2023. The lifetime exclusion amount has increased substantially due to the rise