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Selling Primary Residence To Corporation without capital gain taxes?

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2019 income taxes and HST taxes paid in the year

Hello Allan, I have prepared my 2019 financial statement and balance sheet for my small business corporate return. I just need clarification on how to document the income tax and HST for the year. I made installment payments of $4000 for HST and $2000 for Income tax during 2019. Total HST payable for 2019 is … Continue reading 2019 income taxes and HST taxes paid in the year

Tax for new immigrant

Hi, I will be relocating to Toronto from Dubai in September. I have investments in equities with a brokerage firm in US. Will I be taxed on them once I move to canada ? Or is it better that I sell those equities before I move to canada ?

Inherited Canadian real estate by uS resident alien

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Do I have to pay taxes in canada?

I just did my landing in Canada for immigration purposes but I still live abroad. I have no significant residential ties in Canada, but I opened a bank account with a credit card. I am also planning to get my driver’s license. Do I have to pay Canadian income taxes?

Tax efficiency for selling vacant recreational real estate

Have had a couple of waterfront cottage lots for 50 years. Have sold one earlier in the year (100K cap gain) and now have an interested party for the other. Have a 40% marginal rate from other income and am not eligible to contribute to an RRSP. Other than trying to defer closing till following … Continue reading Tax efficiency for selling vacant recreational real estate

Interest on loans for rental property

I purchased a second home which is a rental property. I could not afford the mortgage, so got a mortgage for 2/3 of the cost and the rest I paid for from my Line Of Credit. I have claimed the interest part of the mortgage and the interest part on the LOC. I know would … Continue reading Interest on loans for rental property

How to sell the primary resident to a corporation without paying taxes?

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Dtmax and goodwill gain

How is an asset sale of business creating goodwill gain of $180,000.00 recorded on which schedules in dtmax. Thank you

What Is The Tax Implication In Canada and India?

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Property Disposal in Kerala

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Stimulus Cheque for Canadian USPR

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A gift is given to small business

Hi Allan, I got a gift ( 500 dollar cheque written to my business account by the customer at Christmas ) how I record this amount when I file my T2 tax this year thank you

Notarized Gift letter

Hi Madan, My father in India wants to wire me some cash and I am no longer an Indian Citizen. Will that cause any problem with me accepting his gift. More importantly, will his bank need more than just a notarized Gift certificate for him to be able to do this wire transfer. (Any other … Continue reading Notarized Gift letter

Resident Indian for Tax but worked few months in Canada

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