Published by the Tax Group
McCarthy Tétrault FRANÇAIS VOL.2,
ISSUE 4
2010
December
17
Tax Update (Volume 2, Issue 4)



Trust Residency — "Central Management and Control"
The Federal Court of Appeal (FCA) recently confirmed that, in determining trust residence for purposes of the Income Tax Act (Canada) (Act), the established common law test for corporate residency should be applied such that a trust is resident in the country where its central management and control (CMC) is exercised. The FCA confirmed the lower court’s rejection of the view commonly expressed in the tax community that the residence of a trust is determined solely by reference to the residence of the trustee.
FULL STORY

New, Far-Reaching US Tax Requirements under FATCA
Canadian Pension Plans may even be caught

Earlier this year, the United States enacted the Hiring Incentives to Restore Employment Act of 2010, which amended the Internal Revenue Code of 1986 to add provisions relating to foreign account tax compliance (FATCA).
FULL STORY