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Corporate taxes on dividends

So this company is investment company ! It has invested in 2 companies ! In first one it has 12% shares and in second one it has 50% shares ( class B common shares ) . It has received actual amount of dividends other than eligible dividends from both the companies ! What are the … Continue reading Corporate taxes on dividends

Can we buy Primary residence with Corporation in Canada ?

Can We Buy Primary Residence With Corporation In Canada? I am planning to buy a home through a home loan and to make the downpayment for the purchase, I am wondering if I can pay from my business account? instead of taking a dividend or paycheck to my account. I have seen a video stating … Continue reading Can we buy Primary residence with Corporation in Canada ?

Selling Shares Provided by US Firm to Canadian SME

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to send money to my son in canada

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

can we transfer existing business to new holding company?

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.

Can I tax deduct personal property casualty and theft losses?

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is there any way to defer taxes on securities traded in Non-Registered Account?

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 🙂

Extracting cash from corp that sold its only property (real estate)

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)

how to find undepreciated capital cost of rental property in brampton?

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!

Online Prop firm trading income

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

Form 5471 Specifics

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Does FAPI apply to a canadian parent company with a wholly owned U.S. subsidiary holding/investing cash at the U.S. subsidiary level?

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What are the tax implications of a Canadian parent company with a wholly owned U.S. Subsidiary holding/investing cash at U.s subsidiary level?

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?

T1135 required for cryptocurrency?

Are cryptocurrencies considered a foreign property? is the T1135 form required if the cost basis is over 100k? thanks

Best US Corporate Tax Structure For Canadian Owner

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