Taxes

A US citizen who is a resident of Israel (with the assumption that the Israeli resident is not in the 10 year exemption period) who sells US corporate stock will pay the first right of tax to Israel on the capital gain (generally the sales price less the original cost).

Most people cringe when they hear the word “tax,” but possessing the knowledge to navigate the system is key – especially in Israel. This article will outline and explain the more common aspects of taxes people encounter when buying a property in Israel.

Salary-earning residents of over four hundred cities, towns, and settlements are eligible to receive an income tax break, also [...]

Becoming a non-resident of Canada will generally not affect your citizenship status in Canada. Canada does not typically ask people who become non-residents to give up their citizenship. However, your change in residency status will significantly change the manner in which you are taxed by Canada. How? For starters, Canadian residents are taxed on their worldwide income while non-residents are taxed only on their Canadian-source income.

What is a Trust? Someone (Grantor/Settlor) can create a trust by signing a trust deed in which he transfers legal title of his assets to a trustee, whom he designates in the trust deed. The trustee, while having legal title to the assets, has no beneficial entitlement from the assets. The trust deed names beneficiaries, who do not have legal title to the assets, but are able to enjoy the income and the assets in accordance with the terms and conditions under the trust deed.

For Israeli tax purposes, an Israeli resident is defined as an individual whose center of living is in Israel taking into account the person’s family, economic and social links.

Thank you to Avraham Deutsch’s office for authoring this article. New Disclosure Rules for Olim and Returning Israelis Effective [...]