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Question

If a tax consultant made major errors on my corporate tax return, do I legally need them to redo the taxes, or can i have someone else redo the taxes?

I Incorporated in 2017 as a consultant and I did my own 2017 taxes with tax software. In 2018 I had a tax consultant prepare and submit my corporate taxes. I now see that expenses were doubled and taxes were not removed from retained earnings, among other minor things that i had questions about. I’m … Continue reading If a tax consultant made major errors on my corporate tax return, do I legally need them to redo the taxes, or can i have someone else redo the taxes?

Child Care Benefits

I’ve just come to Canada on a temporary work permit via intra-company transfer. My wife is on an open work permit whereas my kids are on study permits. Since I will be paying taxes on income in Canada in my first year are we eligible for receiving the Child Care Benefits?

Non resident

I did not file a departure tax return when I left Canada. Could this be an issue if I ever decide to come back to Canada and start filing taxes? I cut all primary and most secondary ties except drivers’ licence and RRSP account which I informed the bank to switch to non-resident status with … Continue reading Non resident

Transfering own funds from Dubai to Canada

Hi Allan. Me and my husband got the PR of Canada and we did the soft landing for 15 days in August 2016. After that we both were working in Dubai for year last 2 years and now finally in March 2019, we moved to Canada. Please suggest will there be any tax implications on … Continue reading Transfering own funds from Dubai to Canada

HST NORMAL METHOD OF FILING

what is the formula to calculate line 103 if I have 40373$ on line 101 and 0$ on line 104. My accountant filed 5275.81$ on line 103 and I am dying to find out how he got this number Thanks

T5 issued instead of NR4

I am a Canadian non resident living in Hong Kong, and I figured out I forgot to update my status with bank for many years. The income is from share dividends, and I found I got T5 slips mailing to me annually. The situation has been like this for many years but I didn’t know … Continue reading T5 issued instead of NR4

Non-resident Family would like so send children to school in Canada

Hi. Thank you for this forum. My family has been non resident for more than 15 years. We are now considering sending my son (12 year old) to school in Canada. The rest of the family would not move to Canada. Would this create a tax issue and would I now be deemed resident. We … Continue reading Non-resident Family would like so send children to school in Canada

Is it possible for a U.S. S-Corp to avoid paying Canadian and provincial taxes on income from a Canadian client (consulting) and instead opt to pay U.S. corporate taxes?

Is It Possible For A U.S. S-Corp To Avoid Paying Canadian And Provincial Taxes On Income From A Canadian Client (Consulting) And Instead Opt To Pay U.S. Corporate Taxes? Hypothetically, the consulting fees would total $7 mill. Or is there a way to offset the higher Canadian rate?

Reporting Claimed Gst and Hst on expenses

Hi Alan, Assume a company collected Gst/Hst on sales 100$ and paid 150$ Gst/Hst on purchases. The company received 50$ cheque to be deposited in the company’s account. To report the 50$, on the Trial Balance sheet, the Bank Account will be debited 50$ and the Shareholder’s Advances Account will be credited 50$, or I … Continue reading Reporting Claimed Gst and Hst on expenses

GST/ QST/ HST Paid on Purchases Account

Hi Alan, Is it correct to credit Receivable Account when registering GST/ QST/ HST Paid on Purchases? Your help is highly appreciated, Thanks Ali

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

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