Questions Archive

is HST profit from Quick Method taxable?

Hello, While preparing T2, I credited profit from HST quick Method to other income in schedule 125. Can you confirm if this income is not taxable as I got mixed message from other accountants, some say HST profit from quick method is taxable? If not taxable which line in Schedule 1 can I claim the … Continue reading

Shares and mutual funds in India

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What is gifi cide in schedule 125 for phsp

I have expenses under health spending account which is eligible phsp. To record these expenses in schedule 125 please let me know gifi code

Provincial tax deduction

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Provincial tax deduction

I am doing the payroll online, I know calculate of taxes such as CCP, EI, Federal deduction except calculate provincial tax deduction I don’t know how calculate its, can anyone help me, for example: Payroll: semi-monthly Gross: 1,830.40 Provincial tax deduction is 82.57 – I do not know where this amount come from, how calculate? … Continue reading

Non-resident with Canadian source income?

Hi. Tricky cross-border question. I am now a non-resident of Canada, having formally exited Canada to become a US resident in 2019. However, I am a self-employed medical doctor (independent contractor) and I only practice in a remote location in northern Canada, so I will continue to perform my medical services exclusively in Canada. That … Continue reading