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On the 21st of August, 2014, the Canada Revenue Agency (CRA) launched its first mobile application to support and assist business taxpayers. According to the Minister of National Revenue Kerry-Lynne Findlay, who introduced the app in Vancouver, “It is more about just trying to help small business focus on what their priorities are, which is...
Canadian Property (Section-116) It is a common misconception that Section-116 applies only to real estate, which is not the case; Section-116 applies to gain from disposal of any ‘taxable Canadian property’ (TCP) which includes but is not limited to: 1. Any real or immovable property (land) situated in Canada; or property used, held, or is...
In the recent years, there has been a significant increase in purchase of rental property by non-residents, and it is obvious that someday they will be disposing off their Canadian property. However, since filing a tax-return for non-residents is not compulsory if they do not fulfill the ‘resident’ requirement, it might happen that the non-resident...
According to Statistics Canada, in the year 2013 more than 25 million non-residents individuals (including U.S. persons) visited Canada; it is likely that out of these 25 million a significant number of individuals visited Canada for work purposes as an employee and received ‘Canada-sourced’ income. It is important for non-resident employees working in Canada, and their...
Canada-sourced income is taxable in Canada, irrespective of whether the company or individual fulfills the ‘resident’ requirement or not, and in order to prevent non-residents who perform services in Canada from avoiding paying Canadian income taxes on the services income earned in Canada during their temporary stay, the Canadian government requires the payer to withhold...
It is a rare moment when the U.S. Internal Revenue Service (IRS) calls out for taxpayers to collect money rather than pay. The IRS has approximately $760 million worth of refunds to be distributed amongst at least 918,600 taxpayers from different states who did not file their tax returns for the year 2010. AG Tax...
[image url=”http://www.agtax.ca/wp-content/uploads/2011/06/non-resident-income-tax-on-sale-of-canadian-property.jpg” alignment=”center” margin_left=”0″ margin_right=”0″ margin_top=”0″ margin_bottom=”0″ width=”600″ height=”300″] A house can be one of the most expensive purchases in an average person’s life. Certain questions regarding budget, funding, and future mortgage payments can make the thought all the more daunting. Fortunately, the Canadian government understands this well and promotes the use of plans like...
For many Canadians, retirement is synonymous with the United States. The warm, sunny weather of Florida, Arizona, and California makes U.S. states some of the most sought after places for Canadians to retire when compared to the freezing provinces of Canada. As per the U.S. National Association of Realtors survey, 29.6% of the foreign home...
On the 25th of February, 2014 the U.S. House of Representatives began its discussions to vote for the passage of two bills: H.R. 2530 and H.R. 2531. These were amongst the various bills introduced in mid-2013 by Peter Roskam, Congressman, Representative of Illinois, and collectively called the “Taxpayers Bill of Rights.” They aim to protect...
The average fee for hiring a tax professional to prepare one’s taxes can range being fairly inexpensive to quite costly and time consuming depending upon the taxpayer’s tax situation. If a person’s tax situation involves no complications, it may not be necessary to consult a tax professional. However, trying to save a few dollars by...
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ABOUTAylett Grant Tax, LLP
With offices across Canada, we are positioned to manage and process the full scope of your Canadian, US and US Canada cross-border tax filing needs.ABOUTAG Tax LLP
With offices across Canada, we are positioned to manage and process the full scope of your Canadian, US and US Canada cross-border tax filing needs.OFFICEVancouver
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