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International Financial Activity Act
Specialists who come to Canada to provide specific expertise are eligible for some tax relief.
- Specialists are entitled to receive up to a 75% refund of provincial tax on IFA eligible employment income for a maximum of five years.
- The individual must be a non-resident immediately before commencing employment.
- Individuals employed in administrative support services, back-up office services, patent activities, or management services do not qualify for registration under the program.
- Further details on IFA specialists can be found in Bulletin IFA 001, International Financial Activity Overview.
Requirements
- The individual must be a non-resident of Canada immediately prior to entering into a written employment contract with the registered corporation or previously registered as a specialist.
- The terms of the written contract of employment require that at least 70% of the individual’s working time must be devoted to international financial activities.
Applying as an IFA Specialist
- The IFA program, including the IFA specialist program, is administered by the BC Ministry of Small Business and Revenue, Revenue Programs Division, Income Taxation Branch. Detailed information regarding registration with the Province of British Columbia, BC Ministry of Small Business and Revenue, can be found by visiting their website.
- Individuals wishing to apply as an IFA specialist must have their employer complete an Application for Registration of an IFA specialist. This form, and all other necessary forms, can be found on the International Financial Activity Forms page on the website of the BC Ministry of Small Business and Revenue.
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