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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
Infographic – Income taxes for US Amazon Store
In recent times there is an uptick in E-commerce sales, especially due to COVID-19 Pandemic. With the closures of more and more retail stores, customers are ordering online. Amazon is one of the biggest online
Canada Emergency Wage Subsidy and Shareholder Employees?
Effective July 05, 2020, there are new rules applicable to non-arm’s length employees and Canada Emergency Wage Subsidy, please read here. In response to COVID-19, the government of Canada has announced a series of relief
Canada Emergency Business Account and Other Loan Programs in COVID-19 Crisis
COVID-19 Crisis has posed an existential threat to small and medium-sized businesses in particular. Small businesses are seeing significantly lower revenues if not completely zero. The government has announced a series of benefits for
What Entrepreneurs and Small Businesses can learn from COVID-19 Economic Crisis
COVID-19 Economic Crisis is a historical event in making! In the future, this economic event of 2020 is going to be referred to alongside the great recession of 1932 and 2008. This will be always
How to take advantage of COVID-19 situation – a Positive Perspective
How Small Businesses and Entrepreneurs can take advantage of COVID-19 situation – a Positive Perspective There is no doubt about the economic damage inflicted by COVID-19. It has wiped out the savings and growths in
Canada Emergency Wage Subsidy for Covid-19 Common Questions
The federal government of Canada has announced a 75% wage subsidy for employers. The purpose of this is to support businesses of all sizes to either re-hire laid-off workers or to not lay-off workers due
TAX QUESTIONS
Taxation of RSUs after moving from Canada
Question: I moved from the U.S. to Canada in April of 2024 after I got my Canadian PR approved. I have RSUs that were granted while I was in the
Short Term Rentals in Canada
Tax Question Asked by: Andrea J. Marie I have a condo that I use as an AirBNB in Toronto. I am recently told that I cannot claim any tax deductions
Bare Trust Reporting in Canada
Question asked by Sumit Khanna My son owns a house where he lives. He was having a hard time getting a mortgage. I decided to be on the title of
Late filing Penalties for form 5471
Tax Question asked by Aiman Doe (Name changed at their request) I am an American living in Canada since 2011. I own a Canadian Corporation since 2012. I have never
Tax Treaty Benefits for Non-U.S. members of LLC
Question: Can a U.S. LLC claim exemption from Canadian corporate income tax under article VII of treaty if it has non-us members?