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US citizens who are resident in Canada and own an interest in a corporate professional practice (such as a medical practice ) should consider their exposure to the passive foreign investment corporation (PFIC) rules. Canadian practitioners may be aware of the potential impact of the PFIC rules on Canadian mutual funds held by US citizens outside an RRSP. However, the scope of the rules extends beyond Canadian mutual funds.
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Bill 60: How Ontario’s New Development Legislation Creates Opportunity for Builders and Commercial Real Estate
Ontario’s Fighting Delays, Building Faster Act, 2025 (Bill 60) is a major legislative update focused on speeding up construction, cutting bureaucracy, and aligning development with infrastructure investment¹. The bill amends ...
2025 Year End Tax Considerations: What Individuals and Business Owners Should Review Before December 31
Year-end has a way of sneaking up on everyone. The final weeks of the year are often packed with project deadlines, budgeting for the new year, and holiday chaos. Yet ...
Beyond the EV Hype: The Hard Truth About Canada’s Auto Sector Crisis
Canada’s $73 billion automotive sector is facing its toughest test in decades. A toxic combination of aggressive U.S. tariffs and collapsing electric vehicle demand has created what Allan Rutman, a ...