July 2026

FOR IMMEDIATE RELEASE

Jordan Novack Speaks with The Globe and Mail on What Trump Accounts Mean for Canadian Residents

Toronto, ON – July 24, 2026 – Jordan Novack, Founder and Managing Partner of Novack CPA Professional Corporation, was featured in The Globe and Mail’s Globe Advisor Weekly in a Q&A on the Canadian tax issues raised by the new U.S. Trump accounts.

The article, “How one cross-border accountant views Trump accounts,” was written by Globe Advisor Reporter Deanne Gage. It looks at the new U.S. investment accounts for children and the questions they raise for U.S. persons living in Canada. The interview followed Gage’s earlier coverage of the launch of Trump accounts and the questions cross-border clients have about them.

In the interview, Novack said cross-border families should not assume that a U.S. tax-advantaged account gets the same treatment in Canada. He explained that the account may be taxed as a foreign investment account, how the attribution rules apply while the child is a minor, and how Trump accounts compare with RESPs and TFSAs. He also covered how employer contributions work.

“We’re still waiting to see whether the Canada Revenue Agency releases specific guidance on Trump accounts. Until then, I would be cautious about assuming Canada will recognize the U.S. tax deferral.”

Novack also cautioned families against letting the account drive bigger planning decisions: “I would not let a one-time $1,000 contribution drive the timing of a residency decision. The Canadian tax residency analysis is much broader than that.”

Read the full article in The Globe and Mail: https://www.theglobeandmail.com/investing/globe-advisor/advisor-news/article-how-one-cross-border-accountant-views-trump-accounts/

About Novack CPA

Novack CPA Professional Corporation is a boutique CPA firm based in the Greater Toronto Area. It serves incorporated professionals, owner-managed businesses and healthcare practices. Founded by Jordan Novack, MBA, CPA, CA, the firm focuses on proactive tax planning, professional corporation structuring, cross-border Canada–U.S. tax and strategic advisory services for clients across Canada.

For further information, please contact:

Jordan Novack MBA, CPA, CA
Founder & Managing Partner
E: hello@novackcpa.ca
T: (416) 477-0754