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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
How to Explain Business Concept in a Business Plan Clearly
Your business plan is incomplete without a clear business concept. If you don’t highlight what your business is about, your plan is missing its key component; business concept about which you are writing the business
Income Tax Return 2019 – Canada
Income Tax Return filing opens on February 24, 2020 08:30 AM in Canada. Are you expecting an income tax refund from Canada Revenue Agency, start filing your taxes earlier and get the refund quicker. Important
Income taxes for non-residents on Rental Income from Canada
Income taxes for Non residents having rental income from Canada. When and how to report a non resident’s rental income to CRA.
How to issue Dividend in Canada? a quick reference guide for CCPCs
When and how a CCPC can issue Dividend. A quick reference guide!
Year End Tax Planning Guide for Businesses in Canada
Businesses and their managers can optimize their corporate business taxes using below simple and effective planning strategies in Canada: Caution: Below post explores tax planning strategies for businesses in Canada without getting into depth. You
Tax Tips: Newcomers (Immigrants) to Canada
Canada taxes its residents on their worldwide income. You become a resident of Canada when you establish residential ties with Canada. The year in which you become a resident of Canada is considered a part-year
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?
Incidental Rental income of CCPC
Question: My corporation, a CCPC, has a catering business and holds a building as an asset. I rent a portion of the building but use the rest in my operations. Is my corporation now Specified Investment Business?
U.S. Citizens and Residents with U.S. Amazon Stores
Question: Do Canadian Corps using U.S. Amazon FBA services need to pay branch profit taxes and file 5472.