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Reporting income on t4

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Gift from wife

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Filling Sch 6 and 8 for a Corporation that sold a property – received payment in parts (2018, 2019 and in 2020)

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Hi Madan , Is it only blood relation can transfer amt as gift from India to Canadian account ?

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SCHEDULE 49

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Do US tax residents need to Report their cDN Corporations to the IRS?

I am Canadian moving down to the US to work for a US company as a full-time employee under a TN visa. I currently work for this company already now remotely, as a contractor who bills under my Canadian corporation. When I have moved down to the US, I will stop billing them through my … Continue reading Do US tax residents need to Report their cDN Corporations to the IRS?

taxes on Dividends in Corporation

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Dividends from US real Estate

We own US property via C-corp. Both spouses have greencards but live in Canada under PR. Husband has high earning corporation. I am not working. Instead of husband drawing a large personal salary to cover personal expenses: 1. How are the retained earnings in C-corp viewed in Canada? Any implications with CRA? 2. Can I … Continue reading Dividends from US real Estate

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 🙂

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