Update: US Senate Votes to Approve Gang of Eight’s US Immigration Reform Bill

Yesterday afternoon the US Senate voted to approve the US Immigration Reform Bill with a final vote of 68-32 in favor of the bill. While some modifications to the bill were made in the Senate, the key provisions for Canadians have remained largely untouched.

These key provisions include Canadian/ Snowbird Tourism, and the US Retiree visa.

Under the Canadian Tourism provision, Canadians who are 55 years old and over may be admitted as visitors to the US for up to 240 days in a rolling 12 month period as long as they also meet the following requirements: Read the rest of this entry »

Foreign Buyers see U.S. as Profitable Investment

In the ever changing real estate marketing, we have seen foreign interest in the U.S. market rise and drop. As detailed in the article below by the National Association of Realtors, foreign purchases are down compared to one year ago but Canadians are still the number one foreign buyer in the U.S. Among the reasons that cross-border purchases are down, are the strict guidelines by banks in the U.S. for foreign buyers. This is why it is important to sit with your Canadian Financial Planner or Advisor to discuss other financing options such as refinancing your Canadian real estate, which would allow you to pay cash for your real estate in the U.S. (as they say “cash is king!”), among other possible solutions. To see more information regarding why foreign purchases are down, I encourage you to read the article below. Read the rest of this entry »

Watch Out for Tax Rate Changes for Trusts

Back in March, the Canadian government had indicated that they were looking into changing the graduated tax rates applied to testamentary trusts. Trusts have always been a tool for tax and estate planning, and although their use will likely not diminish, this overhaul will drastically alter the way in which these types of trusts are taxed.

On June 3rd, 2013 the Canadian department of Finance formally released documentation proposing changes to the way federal tax would apply to many of the trusts estate planners use on a regular basis. Read the rest of this entry »

Matt C. Altro Featured in the Montreal Gazette Tuesday, June 18, 2013

Matt C. Altro is a contributor to Paul Delean’s business column in the Montreal Gazette. Click here to view the article online or scroll down to read Matt’s answer to the fifth question. Read the rest of this entry »

The New U.S. Immigration Bill – Impacts to Canadians Spending More Time in the U.S.

In recent weeks, there has been extensive news coverage on the Gang of Eight’s U.S. Immigration reform bill. If the new bill were to pass, U.S. Immigration (USCIS) would extend the amount of days a Canadian can spend in the U.S. from 180 to 240 per year. Many Canadian Snowbirds are delighted that their 6-month sunny winter may be extended to 8-months, pending the bill’s approval – and who could blame them? More sun, more beach, more golf and less snow! However, there may also be a costly tradeoff to this dream lifestyle in the form of double taxation and loss of health care coverage. Read the rest of this entry »

Jason S. Ansel Interviewed on TV Cogeco “From Selling to Sold”

Ontario & Quebec lawyer Jason S. Ansel works in the firm’s Toronto office and often represents Altro Levy at various seminars and specializes in cross-border planning and real estate. Jason was the invited guest on the TV show “From Selling to Sold” airing in the Burlington & Oakville areas on TV Coegco in May 2013. Read the rest of this entry »

6th Annual RBC Squash Crohn’s Tournament

We are pleased to announce that Altro Levy LLP returned as a Champion Court Sponsor of the 6th Annual RBC Squash Crohn’s Tournament which raised over $61,000.

The event was held on Sunday April 28th, 2013 at Midtown Le Sporting Club Sanctuaire in Montreal. Squash Crohn’s was joined once again by squash legend and world champion squash player Jonathon Power, who put on an exhibition and spent time on the court with top fundraisers! This year, the money raised will support the Montreal Children’s Hospital Foundation in order to contribute to the very important area of Pediatric IBD research and care.

In 2008, Partner & COO of Altro Levy Matt C. Altro co-founded the event, and over the past six years, the Squash Crohn’s Tournament has raised over $286,000 which has been distributed to various IBD research and care projects.

Very big thank you to all who supported the cause!

David A. Altro Featured in the Montreal Gazette Tuesday, May 28, 2013

David A. Altro is a frequent contributor to Paul Delean’s business column in the Montreal Gazette. Click here to view the article online or scroll down to read David’s answer to the second question. Read the rest of this entry »