Corporate & Business Tax | International & Non-Resident Tax | Personal Tax for Canadians | Tax Audits

Do You Have to File Foreign Property Reporting (Form T1135)?

ByClaudia Ku

Individuals who are residents of Canada are taxable on their worldwide income.  To ensure all Canadian residents correctly report their worldwide income, the tax law requires Canadian residents annually file with the CRA the Form T1135 Foreign Income Verification Statement (commonly referred to as foreign property reporting) if they own, at any time during a…

Corporate & Business Tax | International & Non-Resident Tax | Personal Tax for Canadians | Tax Audits

Withholding Tax for Services Rendered in Canada by Non-Residents

ByClaudia Ku

Do you engage foreign individual or company (collectively referred to as “non-resident person”) as independent contractor to provide services in Canada?  Are you the non-resident person providing independent contractor services in Canada?  If you answer yes to either question, do you know that payments made in respect of services rendered in Canada by non-residents are…

Corporate & Business Tax | International & Non-Resident Tax | Personal Tax for Canadians | Tax Audits

What Are the Best Strategies to Handle A Tax Audit

ByClaudia Ku

Canada’s tax system is based on self-assessment.  In order for the governments to maintain public confidence in the fairness and integrity of Canada’s tax system, the Canada Revenue Agency (the “CRA“) is empowered to audit taxpayers of their compliance of the Canadian tax laws.  If you have received a notification letter from the CRA that…

Tax Audits

The CRA is Not Always Right and Can Change its Mind Retroactively

ByClaudia Ku

Canada federal income taxes (both personal and corporate) and indirect taxes (i.e., goods and service tax) are levied under the provisions of the Income Tax Act and the Excise Tax Act.  Provincial and territorial income and sales taxes are levied under various provincial statutes.  Pursuant to tax collection agreements signed with all provinces and territories,…