Archives: Questions

Question

When to pay gST/PST/HST on services provided extra Provincially by a BC Corporation?

Hi Allan! Thank you for your superb website, by the way. Through my BC registered Corporation, I have just picked up a contract to supply my professional services as an individual consultant physically working in Newfoundland, month on, month off. I will be working for a company that is headquartered in NL. On invoicing, do … Continue reading When to pay gST/PST/HST on services provided extra Provincially by a BC Corporation?

Selling an assignment while abroad

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Sole Proprietor Realtor turn Into Incorporate?

I’m a successful realtor in Alberta under sole proprietor and I’m tired of the taxes (I make about $225k gross, and after expenses net $159k on my taxes). Being that my wife homeschools our children (making only $2K-$4k as a contractor for me), and income splitting is not an option… at what income point is … Continue reading Sole Proprietor Realtor turn Into Incorporate?

Incorporating an online business

What’s the best way to incorporate an online business? I’m the only owner of a website, and income is generated through affiliate marketing.

india rental income

Hi, How do we report rental income from India? In T-776 rentals form by filling all the details or in T-2209 as other eligible income or elsewhere? Thanks in advance

Rental Properties & Corporations

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Business Tax Benefits of Providing Housing to Key Employees

Are there any tax benefits for a business corporation offering to pay for personal housing rent expenses for their executive directors separately in addition to a lower base salary? The executive may want to draw a lower base salary and have accommodation provided by the corporation in order to keep himself in a lower personal … Continue reading Business Tax Benefits of Providing Housing to Key Employees

US Child tax credit and foreign taxes claimed on the canadian return

Hi Allan, My question is about the child tax credit claimed on a US return and how that affects the Canadian return. If my total tax was say $10,000 on my US tax return, but I received a $4,000 child tax credit to offset that, would my foreign taxes claimed on the Canadian return be … Continue reading US Child tax credit and foreign taxes claimed on the canadian return

Non resident selling our Canadian residence before leaving and departure tax on the plus value

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Becoming a non resident and OAS old age security clawback

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Declaring Personal Property Outside Canada

Hi Allan, I bought an Agricultural property in India in 2007. I became a Canadian PR in 2009. Now I am a Canadian citizen. I was not gaining any income from this property until now. But there is an appreciation value to the land which could be over CAD 100K. Since it’s a personal property … Continue reading Declaring Personal Property Outside Canada

45(2) election confirmation

Does CRA send confirmation when you file 45(2) election?

How to value the Fair market value of a CCPC share

I Have A Small Business With Last Two Years Accumulated Profits Of Around $ 250,000. How Do I Value The Fair Market Of The Shares Before Selling Them To My Son And Wife?

Registered for GST Number, for import export number. But Sales less than 30,000 per year. Should i collect GST from Customer?

Registered for HSTNumber, for import export number. But Sales less than 30,000 per year. Should i collect HST from Customer?

US Sales taxes and Exemption Certificates for Canadian Entities (no nexus)

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