Will Your Wise Account Trigger Foreign Income Verification?

By |2022-08-16T15:55:29+00:00March 25th, 2022|Business, Taxes|

For those of you with a Wise account, you may have realized the perks of receiving money internationally and spending locally. With the ease of doing business virtually comes the possibility of international banking becoming a day-to-day occurrence.  Canadian tax laws set out certain reporting requirements when it comes to international banking. Having a Wise account is convenient, but there are key things to be aware of so you don’t get stuck with tax penalties.  What is a Wise Account? Wise recently changed its name from TransferWise. They set out to provide a better solution for international money transfers. In their [...]