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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
Permanent Establishment (PE) in Canada, focused on Services
Permanent establishment in Canada and why it matters for treaty-based tax relief on cross border services When a nonresident business earns service revenue connected to Canada, two sets of rules can apply at the same
US IRC 6013 Elections Explained
IRC 6013(g) and IRC 6013(h) Elections Explained for US Canada Couples When one spouse is a US taxpayer and the other is not, the tax return stops being a simple compliance exercise and becomes a
Important Deadlines – Canada & the U.S.
Important Deadlines: 2024 Tax Returns to be filed in 2025 The 2024 tax season is approaching, and it’s time for individuals and businesses to start preparing to file their 2024 tax returns due in 2025.
CRA Reviews of Foreign tax Credits
Foreign Tax Credits are almost always reviewed by the Canada Revenue Agency (CRA), at least for individual taxpayers. Interestingly, based on our experience, this is often the most easily mistaken area for the DIY tax
Tax Alert: Capital Gains Inclusion Rate Changes
Budget 2024: Federal government proposed changes to Capital gains inclusion rate in Canada. An overview of the proposed changes and planning opportunities.
Important Deadlines – 2023 Tax returns
Important Deadlines: 2023 Tax Returns to be filed in 2024 As the 2024 tax season approaches, taxpayers in both Canada and the United States must follow critical deadlines to ensure compliance and avoid penalties. This
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?