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Hi Hannah, You have to sell the property from the corporation to yourself for fair market value. If the property has increased in value, there wil...
Hi Kenny, You are likely a tax resident of Canada under the Canada-US tax treaty because your home, spouse, and child are in Canada. Therefore, yo...
Thank you for your question. I do work with non-Canadians living in Canada and doing business in the US. I must first determine whether you are a re...
Hi Sam, The corporate tax return filing due date is 6 months after the company's year-end. For example, if a company has a year ending on March 31...
Hi Sam, The corporate tax rate for a non-CCPC is 27% on average (varies by province). Assuming a non-CCPC made a profit of $100,000, a corporate t...
The best practice is to amend the previous year's corporate tax return to correct the error. It should not trigger an audit since there will not be a...
You cannot be a tax resident of Canada and Portugal at the same time according to the double taxation treaty between the 2 countries. You are deemed ...
Hi Sam, The CRA should have reflected the updated year-end if you specified the deemed year-end on Box 61, checked "Yes" to Box 66 and selected "Ot...
Hi Sam, If the computer has limited to no value, claim a depreciation expense for the remaining cost on the balance sheet. Otherwise, record $3,00...
Hi Stephanie, The corporate tax rate for Australian small businesses is 25%. A small business is a business with annual sales of less than $50 mi...
Hi Syed, If you will work from Canada for a Denmark based employer and the employer does not have an office or branch in Canada, then the employer ...
Hi VMV, You cannot reduce the non-resident withholding tax deducted from pension payments by contributing to your RRSP. You are correct that a non...
Hi Franklin, It's not a bad idea. You can still claim 100% of the principal residence exemption when you sell your house if you do not claim Capita...
Hi Doug, Enter the amount of the employer contributions to the 401-K money purchase plan. This amount will flow to line number 7 on Page 2 of form...
Hi Juanita, If you and your spouse are both on the title to the property and both of you contributed equal amounts to purchase the property, then b...