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Refundable Dividend Tax on Hand (RDTOH)

You mentioned “if corporation has a balance in its Refundable Dividend Tax on Hand (RDTOH) account, it will receive a tax refund at a rate of $1 for every $3 of dividends paid to you”. does cra send cheque. how do I report it in my books and T2 Corp Tax return. Thanks.

I Am A Pharmacist. Just Got My License As A Real Estate Agent. I Started Working As Independent Contractor For A Broker. Do I File Llc Or Scorp?

I Am A Pharmacist. Just Got My License As A Real Estate Agent. I Started Working As Independent Contractor For A Broker. Do I File Llc Or Scorp?

income employee tax breaks for 6 figures

I Make Over 100,000 As An Employee And Rental Income. I Offset My Rental Income But I’m Left With 98k As Income Tax. Is There Anyway I Can Take Apart Of Tax Breaks? I Heard About Income Splitting. Would That Be Ideal? Since My Wife Makes 40k? Is There Any Other Additional Tax Breaks I … Continue reading income employee tax breaks for 6 figures

My spouse lives in Canada. I’m a Canadian in the US (declared non-resident). Do we declare our marriage and file separately (Me in US and him in Canada) or do it jointly?

We will be married next week. We are both Canadian citizens but he lives in Canada and I live in US on a working visa. I have already declared non-resident to Canada last year and he plans to move here in Summer 2017. So for the 2016 tax year, how should we file? Should I … Continue reading My spouse lives in Canada. I’m a Canadian in the US (declared non-resident). Do we declare our marriage and file separately (Me in US and him in Canada) or do it jointly?

Stock market taxes

Please clarify re tax rates for Canadian resident for both capital gain and dividends received whilst investing in US and CND stocks separately. Thanks, Ivan

writing Savings interest against mortgage interest?

Hi Allan, If I have interest income coming from a savings account, I know that I am taxed at the marginal rate, but is there any way to write it against the mortgage interest I am paying? ie can I deduct mortgage interest against a savings account interest? I want to save on taxes. Thank … Continue reading writing Savings interest against mortgage interest?

HST Payment correction

I made a calculation error and included the same income amount on two successive HST returns. Can I simply deduct the overage (excess) amount from my current HST filing, or do I have to go through the steps of correcting the prior return?

What if franchisor is not registered for HST, are royaties payments to franchisor subject to HST?

What If Franchisor Is Not Registered For HST, Are Royaties Payments To Franchisor Subject To HST?

As a small business owner, should I take Salary or Dividends?

I own a small roofing business in Mississauga. I am curious to know which option is best for me.

Filing taxes as Dual Citizen with a rental property & living in Australia permanently

Hello, I was unsuccessful in selling my home before departing Canada & as result rented well below market in exchange for minor property care taking. I have not reported the property or monies on my Aussie taxes which is under 10k annually with less than 50k equity. I have not filed my Canadian taxes since … Continue reading Filing taxes as Dual Citizen with a rental property & living in Australia permanently

In MY INCOME TAX PREPARATION WITH TRADING IN A TAX FREE SAVINGS TRADING ACCOUNT, WHEN i GO TO DO MY TAXES THEN ALL THE TRADES THERE CAN BE BASICALLY INGORED AND AS ANY CAPITAL GAINS ARE NOT IMPORTANT TO FILLING OUT THE FORM?

Michael Vincent with a lot of trades in a tax free saving trading account, and hoping that they don’t need to be referred when doing income tax……….

I am an Financial Advisor for an insurance company (T4A, self-employed commission). I bought a book of business from a retiring colleague. I had to get a personal loan to do that. Is the interest I pay on that loan tax deductible, and if yes, should I deduct it on Schedule 4 or T2125? Thank you.

I am not incorporated, and the commission income is reported on a T4A. I file as a self-employed taxpayer.

Is the $30,000 threshold for HST calculated on the gross trip fare or after Uber has taken their safe rider fee and 25% commission?

Is the $30,000 threshold for HST calculated on the gross trip fare or after Uber has taken their safe rider fee and 25% commission?

Can we write off capital loss against regular self employed income?

Can we write off capital loss against regular self employed income?

Can we claim Private Health Insurance on our income tax form for 2016?

Hi My husband retired from Hydro 3 years ago. We took out private health insurance for both of us through Municipal Employees Retirement Fund. We pay $397/month for this. Can we claim this on our income tax form for 2016?

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