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Please file a T1 general return and specify the date of emigration on the return (April 2022). In addition, contact Service Canada to inform them tha...
You do not need to hire a realtor. A lawyer can complete the sales transaction for you.
Hire a certified appraiser to determine the breakdown of the selling price between land and building. Or you can ask this information from your realt...
As you correctly pointed out, India's tax year is different from Canada and ends on March 31, 2023. Until the Indian return is filed and a tax assess...
Report capital gains distributions on Schedule 6 of the T2 corporate tax return.
This is a bad idea. If you transferred your property to your sister for below fair market value (e.g. for $1), then the CRA will reassess the sales p...
Hi Vinesh, The corporate tax rates on active business income are as follows: 1.12% - if the corporation is not controlled by non-residents of Ca...
Hi Ram, If you moved to Canada with the intention to live in Canada permanently, and you have a permanent residence (either rented or owned in Cana...
The capital gain should be the difference between the fair market value of the consideration received in excess of the amount paid for the original sh...
If you collect more than $30,000 from short-term rentals, then you must charge HST and file an annual HST return. The rate of HST in the province of ...
Yes, you can claim both the HST on the product, as well as HST on the brokerage fee ($17.37) as ITCs.
Only 1.2 acres of the land on which the primary residence is situated will qualify for the principal residence exemption. The shop will not qualify.
If the person moved to Canada permanently, then he is a factual resident of Canada, starting from the date he moved to Canada. For US purposes, he wi...
Please complete Form T2091 and Schedule 3 with your 2022 tax return and claim the Principal Residence Exemption.
If the property was a personal use property at the time of inheritance, then do not complete form T1135. If the property was a rental property at the...