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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
Become your own boss! The Guide to Get Started With Your Business
Live life on your own terms! In the age of start-ups and the rise of entrepreneurship, do not be a job seeker, but eke out a job maker! Do not let your employer bulldoze you
Short-term residents of Canada and Income Tax
Canada is an attractive country consistently ranking as a premium destination for immigrants. Many individuals move to Canada either for employment purpose, or to settle here permanently. As much as we love our welcoming and
Personal Income Tax Rates for Canada – 2020
Personal Income tax rates for Canada for 2020. The rates below are only for the province of Ontario. If you are residing in a different province, please contact our individual tax preparation service. Maroof HS
Salary Vs. Dividend – How to withdraw from your Corporation?
Owner operators of Canadian corporations often face this question whether they should withdraw Dividend or take Salary.
Tax on Split Income (TOSI) Rules
For the tax years starting January 2018, TOSI Rules are applicable. Expanded TOSI rules apply to adult individuals receiving amounts from the “related business”. Prior to 2018, income sprinkling was used as a tax planning
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?