Funda Dilaver
Whether your client is a retiree seeking a warmer climate or a professional moving for work, there are tax consequences if they decide to leave Canada permanently.
Under the Income Tax Act (ITA), Canadian residents pay taxes on their worldwide income. A non-resident of Canada is taxed only on certain Canadian-sourced income.
Generally, your client becomes a non-resident if they meet the conditions of leaving Canada to live in another country and severing residential ties with Canada by:
disposing of or renting their home in Canada and establishing a permanent home in another country,
having their spouse or common-law partner and dependants leave Canada, and
Early Warning Report Filed Pursuant to National Instrument 62-103 – IT Business Net
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Early Warning Report Filed Pursuant to National Instrument 62-103
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Ms. Hamutal Yitzhak: Early Warning Report Filed Pursuant to National Instrument 62-103
Filer ), Chief Executive Officer and a director of Else Nutrition Holdings Inc. (the
Issuer ), in respect of her decreased holdings of the outstanding common shares (each, a
Share ) in the capital of the Issuer by more than 2%. This report is an update to a previously filed early warning report dated June 15, 2020 (the
Prior Report ).
Effective December 14, 2020, the Filer ceased to exercise voting control or direction (the
Deemed Disposition ) over an aggregate of 599,995 Shares, pursuant to the voting support agreements more particularly described in the Prior Report. The Deemed Disposition represented a decrease of less than 2% of the 94,567,672 Shares currently outstanding. However, when taken together with the additional number of Shares issued by the Issuer from treasury since the date of the Prior Report, resulting in general dilution to shareholders, the Filer s holdings in th