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Hi Erminio, if your only source of income from Canada is Canadian interest, then you should not file a non-resident return and you should not file Sch...
Hi Kim, you do not have to file a tax return in Canada if you are a Permanent Resident or Canadian citizen. Since you live and work in the US, you wi...
Hi Peter, yes, a CCPC can pay eligible dividends to its shareholders, to the extent that it has a positive GRIP balance. The term GRIP means taxable ...
Hi, no, this is not correct. Share capital should be equal to the monies received by the corporation for the issuance of shares in the capital stock ...
Hi, make a non-interest bearing loan to your company with no fixed terms of repayment. To do this, deposit your personal funds into the corporation's...
Hi Robert, based on what you've told me, you will be treated as a non-resident of Canada and will be taxable in Canada on Canadian income only. In add...
Hi, if you deposit money that you received from an inheritance into a Canadian bank account, then you will not pay Canadian income tax on the amount d...
Hi, CMHC is a cost of financing and is not added to the cost (ACB) of the property.
Hi, C Grant. No, the Canadian corporation does not have to file a US tax return.
Hi Ali, record the cash withdrawal as a repayment of the shareholder loan owing to you.
Hi Melwyn, thank you for your question. You are supposed to report the interest earned each year on your Canadian tax return and pay Canadian income ...
Hi Ali, if you lent money to your company, and your company is repaying you for the amount it borrowed from you, then the repayment (i.e. cash withdra...
Hi, no, you don't need to file a Canadian tax return since you only temporarily stayed in Canada, and then left. When you permanently move to Canada,...
Hi Lauren, The % of the house expenses that can be deducted is equal to the size of the rented area divided by the total size of the home. Each of...
Hi, you haven't made a mistake. The articles of incorporation do not specify who the shareholders are. You will need to prepare a corporate minute b...