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Complete the following schedules: T2 Return (Schedule 200) Schedule 101 (opening balance sheet - new business) Schedule 100 (balance sheet) Sche...
The money you spent on renovations will be added to the cost of the property. The property cost (including renovations) can be depreciated at a rate ...
If you are a US citizen following in Canada and are selling a Canadian cottage, then you should be aware of the following: - Your lawyer will hold-ba...
For tax purposes, you became a tax resident of Canada starting February 2019. The CRA will argue that you intended to remain in Canada permanently st...
You must be an employee (and receive a salary/wages) in order to receive a tax-free vehicle allowance. You can receive reimbursement for your home of...
As a Canadian resident, you are taxable on your global income, including foreign pension income. To avoid double taxation, you can claim a foreign ta...
No, this is not considered income.
To save tax, incorporate a company to purchase the lots and to develop them. All expenses should be paid by your corporation.
You will need to comply with Indian payroll requirements if the employee is working in India.
If you are a non-resident of Canada, and you earned interest income, dividend income and/or rental income from Canadian sources, then do not file a Ca...
Ask your bank to cancel the T5 slip and issue an NR4 slip instead. Do not report interest income on a Non-Resident Candian Tax Return.
Please do the following: > Prepare a gift letter. On the letter specify the name of the giver (grandmother), the name of the recipient (you), t...
That doesn't seem right to me. Your income tax bill should go down, as your business profit decreases. In any case, you are supposed to deduct expen...
Try TurboTax tax preparation software. Claim a tax credit for your stay at home spouse with no income. The maximum credit you can claim for her is $...
This is question is better answered by a lawyer, but from my knowledge, it does not appear to violate any laws.