http://www.haskayne.ucalgary.ca/researc ... 002_01.pdf
Was reading this article . Mentions that Roths should be established as a trust to have all future earnings deferred in US and canada (see bottom of page 7). Is this right? Is anyone familar with this type of trust? Pro / Cons?
US Citizen Moving to Toronto
Moderator: Mark T Serbinski CA CPA
A foreign non-resident trust (from CRA point of view ) would protect Roth from taxation for some limited time (5 years) and is a known temporary solution, especially for those only in Canada for a known limited time.
Setting up such a trust is costly (and I believe would have to be done prior to arrival in canada).
A more reasonable and cheaper approach in such a case however, would be to simply invest in tax-efficient vehicles that did not generate year-over-year income for that period.
<i>nelsona non grata... and non pro</i>
Setting up such a trust is costly (and I believe would have to be done prior to arrival in canada).
A more reasonable and cheaper approach in such a case however, would be to simply invest in tax-efficient vehicles that did not generate year-over-year income for that period.
<i>nelsona non grata... and non pro</i>