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Year-End Assignment Tax Reminder

CompassPOINTS - December 2006

It is a certainty that immigration and tax departments communicate. With record numbers of Canadian and foreign work visas being issued, a key focus for the CRA during 2007 will be the whole area of assignee taxation.   If your company is conducting business in or staffing from the international arena, there are a number of important steps which should be taken to finalize 2006 assignee compensation and taxation reporting and prepare for 2007.

For example, has your company:

  •   Secured permission from the CRA for Reduction of Withholdings?
  •   Planned to obtain evidence of 2006 foreign taxes paid for assignees?
  •   Planned for the complexities of assignees' T4 and W-2 preparation?
  •   Arranged for preparation of assignees' US tax filings?
  •   Planned for 2007 US tax withholdings?
  •   Reviewed eligibility for the Overseas Employment Tax Credit?
  •   Remitted the required tax to the CRA for foreign-based consultants?

Our International Assignment Tax Calendar – 2006 / 2007 assists both the International Assignment Manager and the assigned employees of Canadian companies to meet key 2006 / 2007 Canadian and US tax reporting deadlines.

At CompassGUIDES, we work with Canadian companies to minimize tax compliance costs through the development and implementation of assignment tax programs. Should your company require assistance with the planning of assignments or have assignment tax issues, please contact our office at (403) 531-2200, or inquire via our International Assignment Planning Helpdesk .


Tel: (403) 531-2200 
Fax: (403) 263-1826


Web: www.compasstax.ca
Suite 600, 1333 8th Street SW
Calgary, Alberta Canada  T2R 1M6


Tel: (403) 531-2200 
Fax: (403) 263-1826


Web: www.compassguides.ca
Suite 600, 1333 8th Street SW
Calgary, Alberta Canada  T2R 1M6