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Canada’s economy is competitive, innovation-driven and trade-oriented. It is characterized by a prudent fiscal policy, low inflation, interest and unemployment rates, a highly educated population and a business-friendly corporate tax framework. Canada’s banking system is considered among the safest in the world and it promotes a dynamic business environment. Labor costs are among the lowest of G7 countries, and its multiple trade agreements, such as the North American Free Trade Agreement, as well as its economic linkages with Asia via the Asia-Pacific Gateway, attest to the country’s commitment to open trade.
Canada’s tax system is based on a self-assessment model and residents pay taxes on worldwide income. Canadian residents can reduce the amount of income taxes paid on foreign source income by way of foreign tax credits. Canada has tax treaties with a number of different countries to avoid double taxation.
AURAY Capital’s partnership, via Grant Thornton Canada and Raymond Chabot Grant Thornton, can provide assurance, taxation and advisory services in over 135 locations across the country.
Canada allows its residents to benefit from a highly developed educational system with renowned universities and relatively low educational fees when compared to the United States. Canada’s cost of living is slightly lower than other developed nations, and its residents also benefit from a universal health care system. These and many other reasons make Canada an ideal and a safe place to raise a family.