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How to File Non-Resident Tax Returns in Canada

How to File Non-Resident Tax Returns in Canada

As the world gets smaller and more interconnected, it becomes more common for people to work remotely for Canadian companies from outside of the country. They join the significant numbers in the Canadian diaspora who may be required to file a Canadian tax return and...
Capital Gains Tax: What is it and How to Avoid It

Capital Gains Tax: What is it and How to Avoid It

Unfortunately, when you invest in property that generates income as part of your financial planning, paying taxes to the Canada Revenue Agency (CRA) is part of the expense. This is especially true for capital property in Canada The best way to reduce your overall tax...
CRA Audit Triggers: What Triggers a CRA Audit?

CRA Audit Triggers: What Triggers a CRA Audit?

According to the CRA’s web pages on audits (there’s one for individuals and one for businesses), “The CRA’s risk-assessment systems identify tax returns that are considered to be at high risk for non-compliance.” In other words, the likelihood of tax reporting...
pro-tip

Pro Tip

ACCESSING THE SMALL BUSINESS DEDUCTION IN YOUR BUSINESS

The Small Business Deduction gives businesses a tax deduction on the first $500,000 of income. This saves an eligible corporation around up to $50,000 in income taxes. There are a number of conditions that have to be met to be eligible for this deduction.