The Canadian Business Council (CBC) Abu Dhabi Organizes a Canadian Taxation Seminar

08 February 2018 12:48 PM | Anonymous member (Administrator)


Wayne Bewick, representing Trowbridge Professional based in Toronto, in collaboration with the Canadian Business Council (CBC) Abu Dhabi hosted a seminar on “Canadian Tax Considerations for Expatriates in the UAE". The event took place on 6 February 2018 at the Hilton Abu Dhabi, a CBC Gold member.

Mr. Bewick presented the latest Canadian tax changes, Canadian residency for tax purposes, Canadian filing/reporting requirements, the tax issues of owning a Canadian property and other investments and Canadian tax planning around moving back/to Canada. He stated that there is a general increase in targeting non-compliant individuals with foreign assets. The Canadian Revenue Agency (CRA) announced that in 2016, they were spending $450M over 5 years to target tax evaders, starting with the Isle of Man and moving to other jurisdictions.  Some of the worth-noting are the foreign buyers tax in Vancouver & Toronto has increased to 15%, changes to the principal residence exemption and voluntary disclosure program; family tax splitting, art, fitness, education & textbook credits are gone. Mr. Bewick shared the comparison of a Canadian resident tax person versus a non-resident in Canada per year as 

$50K/yr Salary

$10,000 as a resident

$0 as a Non-Resident

$100K/yr  Salary

$27,000 as a resident

$0 as a Non-Resident

$200K/yr Salary

$73,000 as a resident

$0 as a Non-Resident

Mr. Bewick briefly introduced Trowbridge Professional and the services they offer. They provide pre and post - departure counselling, prepare  the Canadian arrival, departure and non-resident tax returns, prepare non-resident rental returns while abroad, and prepare Canadians for their arrival back to Canada in the future and the arrival tax returns.

The one hour presentation concluded with a question and answer from the attendees and a raffle draw of one hour free consultation generously provided by Trowbridge Professional.

 

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About Trowbridge Professional Corporation

Trowbridge Professional Corporation is a Canadian accounting firm that specializes in international tax services. We provide a wide range of corporate and expatriate tax services to Canadian and foreign-based individuals and corporations in a variety of industries. All of our professionals have in-depth tax experience and stay informed on current developments in tax legislation and the potential impact on our clients. Our corporate accounting, bookkeeping and payroll services team has many years of industry experience, helping global companies expand into new markets in Canada and helping companies in Canada grow with financial confidence. We offer a complete solution to help you meet your international tax and corporate accounting objectives. Our goal is to simplify the financial complexities of global business and living abroad, and make taxes less taxing.

To reach Trowbridge Professional, please contact, Wayne Bewick at wayne.bewick@trowbridge.ca or call  416-214-7833 x 101 


About Canadian Business Council of Abu Dhabi

Canadian Business Council (CBC) is a membership-based organization that represents Canadian business people and companies in Canada and in the United Arab Emirates. CBC hosts many business events and supports its members to create business opportunities in the United Arab Emirates through a wide network of relationships and contacts in the two countries. CBC membership includes businesspeople that work in the UAE-based companies and Canadian companies and represent them in the UAE. CBC members share common interests in creating excellent business relations and to strengthen trade relations between the UAE and Canada.

To reach the Canadian Business Council or for more information about CBC’s membership and sponsorship benefits, please visit the CBC website: http://
www.cbcabudhabi.com  or email, members@cbcabudhabi.com


Let's Connect!

Room 201, Second Floor, Nexus Business Services, Daughters of Al Otaiba Building, Khalifa St. PO Box 105075, Abu Dhabi, United Arab Emirates

Telephone No. +971 2 626 8663 | Email: admin@cbcabudhabi.com

  

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