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How to efile a T2 corporate tax return for a corporation in Ontario

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3 Tier Real Estate Structure

Hi Alan Thanks for your time and content. I have two residential properties owned personally and looking to buy a third commercial property. Lawyer suggested holding Commercial Property in Corporation and setting up another co. to lease the units and third co for Management Fees. What do you recommend as the most ideal tax structure … Continue reading 3 Tier Real Estate Structure

Non-Eligible Dividend ( Property Dividend)

Hello Allan, Hope you are doing well. My question is: If I pay myself non-eligible dividend in a form of land, let say the property FMV is 10k (company bought it for 7k)it is just a less half acre of land, is it taxable on my personal income on the date I declared it or … Continue reading Non-Eligible Dividend ( Property Dividend)

Eligible dividends and the ERDTOH

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a tax question for Flipping property.

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Transfer Money From Parents Account In India To My account in Canada

Me and my parents are planning to buy a home in Ontario. For this ,my parents have sold a Home in Delhi worth 2.8 crore Now to transfer the amount from India ,do I need to get a gift deed or I need to pay tax in Canada for getting that money in CAD from … Continue reading Transfer Money From Parents Account In India To My account in Canada

Does Capital gain 50% as income for T2 return

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eligible dividends as investment income in t2

Hello Allan, I like your vidoe. I have question regarding how to calculate eligible dividends from received mutual funds/stocks as investment income in small business. Does have any deduction from that dividend as taxable investment? Thanks,

What conditions have to be met for a Canadian Corporation deduct chaitable donations?

What conditions have to be met in order for a corporation to deduct charitable donations? Is it Dollar for Dollar?

LLC for Investment Advice – Will I qualify for ETOB ?

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Can I use Canadian witholding on annuity payments as a tax credit on my US return?

I am a US citizen living in the US. Years ago while working and living in Canada I purchased a life annuity from a Canadian insurance company. The company deducts 15% from my payments. I do not file a Canadian tax return. I declare the annuity payments as part of my worldwide income, on my … Continue reading Can I use Canadian witholding on annuity payments as a tax credit on my US return?

filing T2 return, T3 slip not till march

Very curious how accountant file fiscal yr end 30th Nov. T2 return with invested mutual fund , when mutual fundT3 slip will come next year March !

Gifi Code of business-use-of-home expenses and Gifi Code of tax-free vehicle allowance in schedule 125

Hello Allan, 1- what is the gifi code for( business-use-of-home expenses) the corporate can claim as an expense in schedule 125? 2- what is the gifi code for (tax-free vehicle allowance ) the corporate can claim as an expense in schedule 125? the corporate is a medical professional corporation. the owner of the corporate is … Continue reading Gifi Code of business-use-of-home expenses and Gifi Code of tax-free vehicle allowance in schedule 125

Structure of investment

I am a Canadian permanent resident and I want to go into business via franchise with in the USA with someone in the USA and bring this income to Canada. I want limited liability, and of course favourable Canadian tax treatment. The idea of a US C Corp with a Canadian holding company has come … Continue reading Structure of investment

Schedule 546

Do I have to file Schedule 546 if my businesses is federally incorporated with only provincial registration in Ontario?

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