Non-Canadian Resident and Collecting Rental Income in Vancouver

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

Read More

The Big Tax Deductions vs The Deductions that Are More Fuss than Their Worth

Right now, Canadians are rushing to file their personal income tax returns on time. At Mew and Company, we are gearing up to process all of the documentation needed to file complete and accurate returns by April 30, 2015. Although we have been preparing personal tax returns for many years, it feels like every year, there are more documents to

Read More

Professional Partnerships and the Incorporated Partners

The 13.5% Corporate Tax Rate I have discussed or referenced in many corporate tax planning blogs that the biggest benefit to being an incorporated Canadian business is that the first $500,000 in corporate profits is taxed at a low 13.5% corporate tax rate. Professionals and their net profits from an incorporate practice also benefit from this corporate tax rate. Tax

Read More