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Income Tax in Canada

We are small private corporation established in January 2017. During 2017 we sold products online at amazon.com for $1600 and it costed us $1700 to manufacture and deliver. Is my understanding correct that “Sales” apply to sale of products not money deposit to corporations bank account? Please advice do we still need to fill tax … Continue reading Income Tax in Canada

Do I Need To Get All My Savings With Me In Cash Upon First Landing Or is there any other way to get my savings to Canada? Can I Do A Bank To Bank Transfer From My Home Country once I have Landed In Canada and opened a Canadian bank account? I Have Proof Of Income To Show For all My Savings.

Do I Need To Get All My Savings With Me In Cash Upon First Landing Or is there any other way to get my savings to Canada? Can I Do A Bank To Bank Transfer From My Home Country once I have Landed In Canada and opened a Canadian bank account? I Have Proof Of … Continue reading Do I Need To Get All My Savings With Me In Cash Upon First Landing Or is there any other way to get my savings to Canada? Can I Do A Bank To Bank Transfer From My Home Country once I have Landed In Canada and opened a Canadian bank account? I Have Proof Of Income To Show For all My Savings.

Capital Gain

Thanks for letting me know about capital gain but problem is my parents are in India and Indian citizen and never came to Canada. If they want to give me some property as a Gift which they bought in 1989 in $5000 and now it’s $200000. If they transfer property to my name in year … Continue reading Capital Gain

Capital Gain

My parents want to give me one residential house as a gift. My parents bought that house in 1989. If I transfer that property to my name and keep for some time or sell immediately then how CRA calculate capital gain. Let’s say bought by parents in $5000 in year 1989. Now its actual value … Continue reading Capital Gain

need to sell property back home

My parents want to give me one residential house as a gift. My parents bought that house in 1989. If I transfer that property to my name and keep for some time or sell immediately then how CRA calculate capital gain. Let’s say bought by parents in $5000 in year 1989. Now its actual value … Continue reading need to sell property back home

Corporate Tax Rate for Property Management Company

You say that the management company in a three tier real estate investment structure only pays %15.5 tax on its business profits. But would this not only be the case if this management company employees 5 or more people? If less then five people what rate would the company pay on its profits.

My kids have Canadian citizenships except for my wife. Would I need to file income tax to CRA?

I am a Canadian who lives in Japan. I had left Canada many years ago and have been paying income tax to the Japanese tax agency ever since. Last year I took my Japanese wife and kids to Toronto and rented a unit under my name. My kids have Canadian citizenships except for my wife. … Continue reading My kids have Canadian citizenships except for my wife. Would I need to file income tax to CRA?

assistance in filing our US and Canadian taxes

We (my wife, 2 year old daughter and I) moved from USA to Canada in June 2017. We were employed full-time in the U.S., and I’m working remotely for the same employer from Canada. My employer still pays in the same manner (USD and deducting US taxes) and my wife got job with a Canadian … Continue reading assistance in filing our US and Canadian taxes

SR&ED refund from previous year: where to recognize it?

Dear Allan, Great site! I have filed an SR&ED claim for the previous year. As a result, the expected amount did not show up on my T2 as a refund for that year. How do I deal with the current year’s return? (1) Do I simply recognize the amount as an increase in the “Deposit … Continue reading SR&ED refund from previous year: where to recognize it?

Non-resident of canada

Hi, I am a canadian citizen and have lived in US for many years.A year ago, I married my wife in Canada and she has been living in canada most of the time for 2017. I have been deemed non-resident by CRA prior to our marriage but now that we are married, I am not … Continue reading Non-resident of canada

What are the specific forms that I Have To submit to IRS if I live in US and has A TFSA account in Canada?

What are the specific forms that I Have To submit to IRS if I live in US and has A TFSA account in Canada? Thanks.

Can I claim 1% credit on first $30000 even if my sales are less than $30000 for HST quick method or is it pro rate basis

Dear Mr Allan Can I claim 1% credit on first $30000 ($300) even if my sales is $8000 for HST quick method or is it pro rate basis ($8000 x 1% = $80)

American with camadian PR working remotely for american company

Hello. With there being more people working from home like in my situation I am curious as to what the process should be if you’re an American with Canadian PR living in Canada (Alberta) working remotely for an American company. Is it better to be an independent contractor or just stay employed with them? Do … Continue reading American with camadian PR working remotely for american company

can a business owner claim the hst paid on purchased vehicle in a Quarterly hst filing .

Can A Business Owner Claim The Hst Paid On Purchased Vehicle In A Quarterly Hst Filing .

is private consultation offered?

I literally read all the FAQ, forums, articles, blogs, youtube videos, etc. and have a few questions. I will incorporate in Dubai and will open a branch in Canada. Is it possible to book a consultation so that I can ask all my questions and learn about the services offered by Madan? Please note that … Continue reading is private consultation offered?

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