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Withhold tax deductible with YE Mar 31 2023

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Private health Services premium For sole shareholder

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India NRE ACCOUNT with FD’s , stock market .. how taxes work

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Use Down Payment To Buy House By Loaning From Own Corp

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Inheriting Oversea Property

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Foreign Property Ownership

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Receiving Gift money transfer from In-Laws accounts in India

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Audit Risk in Filing non-resident Tax Return passing Substantial Presence Test in US (H1B) PR in Canada Third Country Citizen

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Principal residence gift to family member (adult)

Hi Madan, If I gifted my only principal residence to my sister (adult) at a price of $1.00, what should I report the proceed in my T1 tax return? $1.00 or the house market price? As the legal document said the consideration given is $1.00. Thanks

Tax policies on formation of new company

Hello my name is Vinesh Kumar and i have two questions. 1) What is tax% on resident and non resident in Canada if they form a new company? 2) What if one resident and non resident form a new company in partnership what will be the tax% on that. I hope you answer that soon. … Continue reading Tax policies on formation of new company

How to Report Capital Gains Distributions from REIT on T2

Hi Allan, I just started investing in some REIT stocks through my corporation. I thought all the payouts were dividends but when I got the T3, they were classified under other income and capital gains distributions. My question is, how do you report the capital gains distributions on the T2 even though no actual shares … Continue reading How to Report Capital Gains Distributions from REIT on T2

How does my income in India calculated in Canada?

Context: I’m an Indian working in Canada on work permit. I have also been working as a freelancer and my freelancing income is deposited in my Indian account but my client. Questions: 1) Do I need to file my income tax return in both the countries? 2) Do I need to report my Indian income … Continue reading How does my income in India calculated in Canada?

How to avoid double taxation with India

Hi, My wife and I moved to Ontario, Canada on Work Permit on July 9, 2022 and will be filing Canadian return for the first time. We assume we are Canada resident for income tax purposes in 2022 as we are both here together, have a rented house, Canadian bank accounts, Ontario health card, etc. … Continue reading How to avoid double taxation with India

deemed disposition of rental building

Hi Allan, I have a rental property and I claimed CCA. How could I find out the proceeds of the building value? Is it normal to have building value significantly increased per the city assessment? What is the best way to get the current building value? Thanks.

would I have to hire a real estate agent to transfer a house from corporate ownership to personal ownership?

Hello, I have a question on the topic of transferring a house from corporate ownership to personal ownership. If I were to sell the Corporate Property (house) to my son (shareholder) at the market price, would I have to hire a real estate agent? I have a buyer (my son), I do not need to … Continue reading would I have to hire a real estate agent to transfer a house from corporate ownership to personal ownership?
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