Offshore Immigrant Trust

This is our main tax information forum which deals with topics concerning Canadians living and working in the U.S., U.S. citizens contemplating working in Canada, and all aspects of Canadian and U.S. income tax and related adminstrative issues.

Moderator: Mark T Serbinski CA CPA

Post Reply
Posts: 2
Joined: Tue Nov 23, 2004 1:55 am

Offshore Immigrant Trust

Post by mark »

I heard that Canada provides immigrants a chance to take a 5-year tax holiday if they set up an offshore trust before immigrating. And it will be no tax for the beneficiaires to receive the distributions of trust capital when the trust is termianted before the settlor lives in Canada for 5 years. Is the distribution of trust capital really free of tax and also no attribution rules? How could the CRA tell the distribution is from trust capital or income? If the beneficiaries receive the distribution of trust capital (stocks), what is the cost of stocks for beneficiaries? Thanks!
Norbert Schlenker
Posts: 68
Joined: Sun Nov 21, 2004 1:22 pm
Location: The Dry Side of the Wet Coast

Post by Norbert Schlenker »

If you are a candidate for this - it's not worth doing unless it's major $ - you need professional advice. You can't leave any i undotted or t uncrossed.

Contact a good cross-border tax lawyer.
Posts: 16667
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Post by nelsona »

The figure i've seen is $750K.

The true advantage is fir those who will only stay in Canada for less than 5 years.

<i>nelsona non grata</i>
Mark T Serbinski CA CPA
Site Admin
Posts: 611
Joined: Tue Oct 26, 2004 8:05 pm

Post by Mark T Serbinski CA CPA »

See this link for more information: ... rusts.html


Mark T. Serbinski, CA, CPA
Post Reply