Personal Tax Planning: Ownership of Foreign Luxury Assets—Tax Considerations | Zendy

Lynn Wu | Zendy; Maria Snelgrove | Zendy; Chris Watt Bickley | Zendy

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Personal Tax Planning: Ownership of Foreign Luxury Assets—Tax Considerations

Author(s) -

Lynn Wu,

Maria Snelgrove,

Chris Watt Bickley

Publication year - 2022

Publication title -

canadian tax journal/revue fiscale canadienne

Language(s) - English

Resource type - Journals

ISSN - 0008-5111

DOI - 10.32721/ctj.2022.70.1.ptp

Subject(s) - business , tax planning , sample (material) , foreign ownership , public economics , accounting , double taxation , finance , tax avoidance , economics , foreign direct investment , chemistry , chromatography , macroeconomics

This article aims to provide a general understanding of the tax implications and practical considerations associated with the ownership of foreign luxury assets. The authors outline common forms of ownership and provide a sample analytical framework, setting out the various factors to be considered in reviewing a client's ownership options. They also discuss common types of personal-use luxury assets, and the benefits and risks affecting the choice of an appropriate ownership structure.

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