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Canadian OK Jaguar Register×Canadian Classic MG Club Monthly Newsletter L I T LE C L A S S I C A L G A S July 2013 littleclassicalgas gmail.com (editor: Rhonda Gale) The videos for this month's meeting

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What is l i t t?

L I T T stands for Local Individual Tax Treaty.

Who is required to file l i t t?

Individuals who have income from foreign sources and are residents of the specific country with which a tax treaty exists.

How to fill out l i t t?

You must follow the guidelines provided by your country's tax authorities and accurately report all foreign income according to the terms of the tax treaty.

What is the purpose of l i t t?

The purpose of L I T T is to prevent double taxation on income earned from foreign sources by individuals who are residents of a specific country that has a tax treaty with the foreign country.

What information must be reported on l i t t?

All foreign income sources, amounts earned, and details of the tax treaty that applies must be reported on L I T T.