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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
Why You Should Read Your Tax Return Before Signing?
It’s your tax return, so doesn’t it make sense to check it’s accuracy? If you are like many business owners, you might directly sign your return and send it to the CRA without even reviewing
New Beneficial Ownership Rules for Canadian Corporations
Starting June 2019, under the legislative changes to Canada Business Corporations Act all the corporations federally incorporated in Canada must maintain a Register of Individuals with Significant Control. While some consider this is an additional
How a US LLC is taxed in Canada?
What is a US LLC? A Limited Liability Company (LLC) is a type of business entity that is created by a state statute in the US. This type of structure does not exist in Canada.
Canada Tax Changes – What’s new for 2019?
Major changes applicable for 2019 are as below. The below list is not conclusive of all the tax changes as applicable from 2019, however, these are the major changes the interesting majority of taxpayers in
5 Ways to Save Accounting and Tax Costs in Canada
Bookkeeping and accounting services in Canada especially in cities like Toronto and Vancouver can cost a lot! If you decide to go ahead with hiring a CPA in Canada, you should know that work done
Personal Income Tax Rates (Canada)- 2019
Personal Income Tax Rates for 2019 Federal and Provincial – for the province of Ontario Maroof HS CPA Professional Corporation is a tax service provider located in Woodbridge Ontario. It provides a wide range of
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?