How to Save Taxes in Canada Watch Video
Allan Madan, CPA, CA
Taxes are burdensome. How can I save taxes in Canada? I’m sure you have all asked yourself this question before, Read More…
Disclaimer
The information provided on this page is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided on this page.
ABOUT THE AUTHOR
ALLAN MADAN
CPA, CA
Allan Madan is a CPA, CA and the founder of Madan Chartered Accountant Professional Corporation. Allan provides valuable tax planning, accounting and income tax preparation services in the Greater Toronto Area.
[…] complete information and details about how experienced Mississauga Accountants can help you with your business taxes today! When you work with Accountants in Mississauga, you […]
Re: Management companies – an effective way to save taxes
I am planning to incorporate to invest in rental properties. Seems that “Management companies” concept should be one of the ways that should be looked into for the setup.
One question is: After the management company pays the 16.5% tax, whether the dividend distributed to the shareholders of the management company is still subject to any kind of taxes on hands of the shareholders?
Thanks and regards,
Alan
Hi Alan,
Thank you for your inquiry. The first $40,000 (round-figure) of dividends received by an individual are tax-free. After that figure, dividends are taxed.
Hope this helps answer your inquiry.
Thank you !
The Team at Madan CA
I would like to discuss my personal tax situation. Please let me know id you consult and associated fees
Hi Sumon,
Please feel free to contact me at 905-268-0150 or by email at amadan@madanca.com I’ll need to know more about your situation before I can provide you with a fee.Thanks,Allan Madan, CA
HiI came to Canada in 1998. I have money in India in State Bank of India as fixed deposit. On maturity, I want to bring this money to Canada.I want to know if there are any Canadian tax liability .RegardsGaurang
Hi Gaurang,
Hi Gaurang,As a resident of Canada, you must report your interest income from State Bank of India every year when you file your Canadian Tax Return.As such, when your deposit matures, there will be no additional tax liability when you transfer the money from India to Canada. However, foreign exchange gain/loss may occur.– Allan