Global

Details

  • Service: Tax, Global Compliance Management Services, International Tax
  • Type: Regulatory update
  • Date: 6/19/2014

Canada - Employee benefit, foreign trust elections due 26 June 

June 19: Employers with employees who are members of an employee benefit plan, providing benefits to employees who render services to Canadian resident employers, or a stock plan administered through a non-resident trust, need to review whether the trust is deemed to be a resident in Canada and taxed on its worldwide income for the 2007 and subsequent tax years under Canada's new deemed resident trust rules.

There are elections available that may provide relief under these rules; however, the deadline for filing for such relief election is 26 June 2014.


Read a June 2014 report prepared by the KPMG member firm in Canada: Employee Benefit Plans and Foreign Trusts - June 26, 2014 Deadline




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