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 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 against the rental income that
Budget 2024: Federal government proposed changes to Capital gains inclusion rate in Canada. An overview of the proposed changes and planning opportunities.
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 the property to help him
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
What is departure tax in Canada? How to manage it; exemptions, payment and deferral, and some planning options.
Non-residents of Canada face some challenges when it comes to compliance when owning Real Estate in Canada. Non-Residents here does not mean Non-Canadians, it also includes Canadian citizens and permanent residents who emigrated from Canada.
There are many reasons why Canadian tax residents move to the U.S. including economic opportunities, family reunification, education, and lifestyle preferences. Those who are planning their move to the United States must recognize the key
Individual Tax Number (ITN) for Non-Residents In order to file an individual income tax return with Canada Revenue Agency (CRA), you require either a Social Insurance Number (SIN) or an Individual Tax Number (ITN). If
Important deadlines for 2023 Please note that these are the deadlines applicable to most taxpayers. Some of the information returns may not be included here. For up-to-date information, please always follow the deadlines communicated to
