US Immigration and Tax regulations for Snow Birds (7 March, 2018)
Many Canadian Zoomers spend their winters in the U.S. and yet there is considerable misinformation circulating about the amount of time Snowbirds can spend in the United States to comply with the tax and immigration rules. Getting your timing wrong can lead to a lot of problems, so it’s important to get it right.
It’s always a good idea to speak to a qualified tax or legal advisor who specializes in cross border matters to see how these rules apply to your specific situation. There are two separate formulas Canadians must comply with for the U.S. – one for immigration and one for tax.
Firstly there’s the US Immigration Act. A Canadian resident cannot be in the US for more than 180 days in a year. This is not a calendar year, but a rolling 365 day period, calculated by looking back over the last 365 days. If you have been in the US for more than 180 days within this 365 day period, you are subject to deportation and denial of entry in the future.
Secondly there are the tax implications. There are complex rules that define a U.S. resident for tax purposes under the US Internal Revenue Code. Canadian snowbirds should avoid being considered U.S. residents for tax purposes at all costs, as it can lead to significant additional income tax being owed to the IRS. US residency is based on how many days you have spent in the U.S. over the last three calendar years. Days spent in the US during this calendar year count as one day, but days spent in the US in the two previous years count as only one third and one sixth, respectively, towards the total. If the total number of days in the US over this three year period totals 183 days or more, you will be considered a U.S. resident for tax purposes…
Confused? It’s understandable: that’s why I recommend that you speak to a qualified advisor! More details are available on the very useful website at www.SnowbirdAdvisor.ca.
|
Saint-Martin open for business! (1 March, 2018)
Last September, the popular Caribbean island destination of Saint-Martin lived through one of the worst events of its history with the passage of Hurricane Irma. The strength and violence of the storm surpassed any other in the recorded history of the island. Their tourism industry has been seriously shaken. Nevertheless, Saint-Martin is recovering at a great pace. Roads and beaches have been cleared. Many restaurants, bars and businesses together with some hotel rooms and a number of guest houses and villa rentals are all now reopened. Princess Juliana Airport is again open for direct flights.
So as this lovely destination increasingly gets up and running again, now is the time to start planning to return. Here are just some of the reasons why you can enjoy yourself in Saint Martin whilst helping the island get back on its feet again…
There are 37 sandy beaches with turquoise water on a compact 100 square kilometer island. The island is cooled by the trade winds year round, generating temperatures averaging 27 Celsius for both land and sea. There are great day excursions to neighboring islands. Land activities include hiking, zip lining, biking, and even creating your own fragrance. Choose from water activities such as surfing, wind surfing, jet skiing, kite surfing, kayaking, sailing, boating, deep sea fishing, snorkeling and diving.
And if all that isn’t enough, Saint Martin is a culinary hot spot too, combining Caribbean island traditions and fabulous local ingredients with great European savoir-faire. Restaurants offer unique French, International and Caribbean flavours in spicy yet refined dishes.
So check out their website at www.stmartinisland.org and see how this Caribbean gem is bouncing back stronger and better than ever!
|
Record breaking tourism to Canada (21 February, 2018)
Canada welcomed a record-breaking 20.8 million tourists in 2017, the highest ever in Canadian history. The numbers surpassed the previous record set in 2002, by almost a million. Over that time, the composition of tourists to Canada has also changed significantly. Visitors from countries other than the US reached an all-time high of over 31% in 2017, up from just 19% in 2002. Overseas tourists typically stay in Canada longer and also spend more, benefiting tourism businesses across Canada, and the Canadian economy. So its good news that the rest of the world is finding Canada ever more attractive as a travel destination!
|