Singh v. Canada: A Canadian Tax Lawyer’s Observations On TFSA Penalties – Tax Authorities

Singh v. Canada: A Canadian Tax Lawyer’s Observations On TFSA Penalties – Tax Authorities

INTRODUCTION – TAX PENALTY AND INTEREST RELIEF FOR OVERCONTRIBUTIONS TO A TFSA As of 2009, Canadian tax residents over 18 years old have been entitled to establish a tax-free savings account (“TFSA”). Unlike a Registered Retirement Savings Plan (“RRSP”), you are not entitled to deduct your contributions to a TFSA against your income. In turn,…

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Legal immigration to the U.S. rebounds from pandemic drop in visa approvals

Legal immigration to the U.S. rebounds from pandemic drop in visa approvals

Washington — The U.S. issued nearly half a million long-lasting visas to immigrants overseas in fiscal yr 2022 as legal immigration rebounded subsequent a sharp fall in visa approvals at the outset of the COVID-19 pandemic, which impeded worldwide vacation and crippled processing at U.S. consulates, unpublished governing administration data show. Through the 12-thirty day…

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