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A shareholder can claim an ABIL for shareholder debt that has become uncollectible. One half of an ABIL can be deducted by a shareholder against othe...
Thank you for your question. The remaining $50,000 can be paid as a taxable dividend (other than eligible). This taxable dividend allows the company...
Hi, Thank you for your question! The following are the tax implications for your mother if she sells her Toronto property: 1. Your mother's law...
Thank you for your email. You should speak with a mortgage broker that specializes in mortgages for self-employed individuals. Ask the mortgage brok...
There are two methods that you can use to pay yourself from your corporation: (a) dividends, or (b) salary. Dividends are reported on a T5 slip and a...
Interest paid by a Canadian bank / Canadian financial institution to a tax resident of Honk Kong is not subject to withholding tax. In other words, y...
Owning a rental property in Canada is a secondary tie and will not cause you to remain a tax resident of Canada. Make sure there is a lease agreement...
If you are residing in and paying tax in China, then you can rely on the tax-treaty between China and Canada. According to the tax-treaty, you are a ...
Consider incorporating a Canadian company to bill your clients. Canadian controlled private corporations pay a low rate of corporate income tax (appr...
Yes, Canadian ETFs are subject to PFIC reporting.
Thank you for your questions. My answers are as follows: 1. You can claim the personal tax credit for the 3 months that you are a tax resident of ...
Now that you have permanently relocated to Canada, you are a tax resident of Canada. This means that your global income will be subject to Canadian i...
Thank you for your question. If you have a guaranteed job when you return to Canada and you continue to receive benefits from a Canadian employer whi...
According to the Canada-US tax treaty, business profits are sourced to the country where there is a permanent establishment (fixed place of business, ...
Loans made by a corporation to a shareholder are taxable in the year that the loan is received by the shareholder. This means that you would have to ...