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Question

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?

Is it possible for my corporation to loan money to a person who is not an employee or shareholder?

Hi Allan, Is it possible for my corporation to loan money to a person who is not an employee or shareholder? If so, what terms and interest rate would be considered reasonable? Other than the risk of not getting paid back, are there any downsides from a tax standpoint? Thanks and happy new year!

Rental proprty used as primary residence

i m residence of montreal. We bought duplex which has basement with 2 kitchen ,upper floor with one kitchen and second floor with one kitchen. All level as separate entrance and also inter connected entrance. we took out all civic number and made one.someone from city came to verify it we also made door from … Continue reading Rental proprty used as primary residence

former u.S. resident alien with capital assets moving back to home country of canada

Hi there, Love the site and the resources! I’m in a bit of a situation right now where I’m trying to figure out my tax situation from the U.S. standpoint. I want to make sure the IRS won’t come knocking on my door some odd years later demanding unpaid taxes! Here are the relevant facts: … Continue reading former u.S. resident alien with capital assets moving back to home country of canada

Non-Resident Canadian

Thanks for letting me know that I cann’t become non-resident Canadian if my wife and kids living here. But what about if you are separated and kids (14 & 16 yrs) living with wife. Thanks in advance.

Non Resident Canadian

Can a person become non-resident if his family living in Canada i.e. spouse and kids? Wife and kids don’t want to leave Canada but husband want to leave Canada and want to become non-resident Canadian.

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