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...
by Sherry Zheng CPA (Delaware), MTax | Aug 9, 2017 | Tax Planning
In the future, private companies’ tax planning may be restricted due to the release of Department of Finance’s recent 63-page consultation paper on July 18, 2017, along with proposed legislation and notes on some of the topics addressed. This paper includes...
by Sherry Zheng CPA (Delaware), MTax | May 30, 2017 | Tax Planning
Canada Revenue Agency’s prescribed interest rate for the third quarter is now available; the rate is still historically low at 1%. This is good news – a prescribed interest rate loan has long been an extremely efficient income-splitting vehicle. We will use an example...
