As 2018 comes to an end, tax advisors across Canada are busy restructuring and planning many corporations to respond to the new tax rules that came into existence this year.
Non-Canadian residents who own Canadian real estate and collecting rental income have two ways to deal with the Canadian tax liability.The first method is remit to the CRA, 25% tax on the gross rent collected. This 25% is due to the CRA on the 15th of the following month the rental income was credited to the non-Canadian resident. This tax is considered the final tax liability on the rental income and the non-Canadian resident has no further obligation. However, the non-resident ... Read More
Death of a family member is one of the most stressful events in life. To compound the grief, there are final tax matters to deal with either by April 30th of the following year or 6 months after the date of death.