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ARTICLE · 28 APRIL 2014

Snowbird Tax Traps

This year's cold and lengthy winter had me constantly daydreaming of beaches and warmer weather.

CanadaTax

This year's cold and lengthy winter had me constantly daydreaming of beaches and warmer weather. I certainly envy those lucky ones who head south at the first sign of snow.

The only thing that makes me a little less envious is the knowledge that those Canadian snowbirds down in Florida, enjoying the sun and sand for months at a time, also have to deal with the potential tax traps that Uncle Sam has carefully laid out for them.

Living Abroad:

Although you may consider yourself a resident of Canada, and you've duly filed your Canadian tax each spring, be aware that if you spend a substantial portion of the year in another country, you may be found to be resident in that country for tax purposes.

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