I want to send money to my son, who is PR in canada for the purchase of house. How much money i can send per year and what will be the Tax deducted on it. Whether tax will be @0.5% or 5%. I am government employee having income of 12 lakh per annum. And last … Continue reading to send money to my son in canada
Hello, I am trying to plan my business structure to reduce liabilities, it would be helpful if you could explain, if it’s possible to transfer existing business to a new opened holding co. Thank you in advance.
Hi, I am wondering, if I trade securities in a non-registered account but don’t actually make a withdrawal from that account is there any way to defer the taxes on the gains of a security trade until a later year? Thanks, I really appreciate your Q & A here 🙂
I am selling a real estate property that is owned by my corporation. Mr name is on the property, but I used the corporation’s cash as the down payment, and have a bare trust agreement between the corporation and I stating that I personally will not benefit financially. I am the only shareholder in the … Continue reading Extracting cash from corp that sold its only property (real estate)
Hi Allan, How To Find Undepreciated Capital Cost Of Rental Property In Brampton? I have bought this property in 2019. I have not claimed CCA in 2019 tax year but want to claim it for 2020 FY. thanks!
Hi there, I am a trader and i will be sub contracting for a prop firm. I will be given a demo account because i passed their test and they will then copy my demo trades into a master account which has real funds in it. I will be taking 70% of the profits made … Continue reading Online Prop firm trading income
I would like to know what are the tax implications of a corporate structure of a Canadian parent company with U.S. wholly owned subsidiary holding/investing cash at the U.S. subsidiary level?
I will pay 100,000 dividend (retained profit) from a US company to a Canadian parent company on May/10. When should I file 1042 S return, and when should I pay 5000 withholding tax to treasure. When should I file 1042 return and 1042 T return. Thanks.
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