by Sherry Zheng CPA (Delaware), MTax | Oct 9, 2020 | News, Tax Filing Requirements, Tax Planning
Non-residents of Canada can continue to hold RRSPs after leaving Canada. Income and gains in an RRSP are considered tax-free in Canada and in many foreign countries with which Canada has tax treaties and where non-residents may live. As such, non-resident taxpayers...
by Sherry Zheng CPA (Delaware), MTax | May 6, 2020 | News, Tax Filing Requirements, Tax Planning
Canada has announced a series of measures to help businesses in response to the hardship caused by COVID-19, including an extension of GST/HST payments up to June 30 for a particular period. GST/HST filing and payment deadlines vary depending on your GST/HST filing...
by Sherry Zheng CPA (Delaware), MTax | Nov 1, 2018 | Tax Planning
Until recently, the US corporate tax rate was so high that owning investments in a US C Corporation was not an ideal structure for Canadians. However, as of January 1, 2018, the US corporate tax rate was reduced to 21%. Because of this tax cut, it is now worthwhile to...
by Sherry Zheng CPA (Delaware), MTax | Apr 18, 2018 | Tax Filing Requirements, Tax Planning
Many Canadians, especially those who have recently moved to Canada, own assets outside of Canada. Foreign property ownership can be dangerous if you are not aware of the Canada Revenue Agency’s (“CRA”) filing requirement for certain foreign assets — in fact, failure...
by Sherry Zheng CPA (Delaware), MTax | Jan 25, 2018 | Tax Filing Requirements, Tax Planning
Withholding Tax on Rental Income Paid to US Persons in Canada If you are an American investor in the Canadian rental market, you are required to pay income tax in Canada. Generally, when you receive rental income in Canada, the payer (the tenant or an agent) has to...
