Insights – Home
Take Advantage of our Insights and Tax Questions
We attempt to assist our readers by simplifying some of the complex income tax issues in Canada. Occasionally, we answer the general tax questions as well that can help a broader readership of our blog section.
INSIGHTS
Income Tax Issues for Ukrainians moving to Canada
Canada is going the extra mile to support the Ukrainians affected by the Russian Invasion. With every passing day number of applications for temporary residence is growing. Many of the Ukrainians are already in Canada
Moving from Canada & Principal Residence Exemption
A lot of taxpayers emigrate from Canada every year, some to the south of the border and others beyond. In Canada, generally, the owners of the residential property are exempt from the taxes on capital
Foreign Accrual Property Income
How to calculate foreign accrual property income for a Canadian corporation.
IRS Streamlined Foreign Offshore Procedures
IRS Streamlined Foreign Offshore Procedures The IRS has strict rules when it comes to filing your taxes. You have to report all your income, and foreign assets and provide all applicable information to support your
Top 10 Mistakes to Avoid on Personal Tax Returns
Tax filing is sometimes, if not always, a fairly complicated process! For the majority of taxpayers, it is so easy to make mistakes and overlook possible credits and deductions. It simply cannot be taken for
TAX QUESTIONS
IT Contractors – Employee Vs Incorporation
Question: I Am An IT Professional. I Just Received An Offer From My Employer. My Employer Wants Me To Incorporate And They Have Agreed To Offer A Better Hourly Rate. I Am Confused Should I Set Up A Corporation Or Become An Employee?
Tax on Inheritance in Canada
Question: My mother passed away in India last month. I am receiving my share of the family house. The home is located in India. I am a resident of Canada. Do I need to pay taxes in Canada when this property is transferred to me?