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Hello BigBee, All of what has been mentioned will be a good start. Plan out how you will execute each item and ensure you have procedures in place to get it done. Best wishes! Madan Chartered Accountant team www.madanca.com

Hello BigBee, 1. Correct. You should find out the correct withholding at the CRA's website's payroll deductions calculator a. find it here http://www.cra-arc.gc.ca/esrvc-srvce/tx/bsnss/pdoc-eng.html 2. Correct. 3. Based on the payroll deductions calculator in (1) above. Since you want to...

Hello BigBee, A minutebook would have a few documents, including the document you received: articles of incorporation, by-laws, list of shareholders, list of directors, resolutions, important meeting notes, shareholder certificates, and more This link here can provide more information...

Hello, If you stay in Canada for more than 183 days, you will be a deemed resident for the entire year. This will mean that your worldwide income for the entire year (January to December) must be reported to the Canadian tax authority. Madan Chartered Accountant team www.madanca.com

Hello canpr2011, I think there may be some confusion here. The 183 day rule (called the 'sojourner' rule) relates to those individuals who are otherwise not a resident of Canada to be deemed to be residents of Canada for tax purposes for the entire year if they stay in Canada for 183 days or...

Hello BigBee, As a newly incorporated entity, you should obtain your corporate minutebooks. These contain the documents related to your shareholders, directors, and resolutions. 1. Financial statement and bookkeeping - bookkeeping is the process of recording transactions. It is from these...

Your taxation in Canada depends on whether or not you have established residential ties to Canada. Residential ties are of two types: primary and secondary. Presence of a primary tie will deem you a resident of Canada; presence of multiple secondary ties can deem you a resident of Canada. You...

Hello unclesamy, If you are indeed entitled to a refund, then you should receive it in one payment (pending certain conditions, discussed in the link below). For more information, please review this page here: http://www.revenuquebec.ca/en/citoyen/impots/dec_courante/remboursement/default.aspx...

Suin, Foreign tax credits will prevent the double-taxation. Income is taxed based on the country to which it is sourced. The sourcing country will get to tax the income first. You get to use this tax paid to the first country as a foreign tax credit in the second country (if the second country...

You should call the CRA at the individual helpline at 1-800-959-8281 and raise this issue with them, and get them to correct it (otherwise installment interest will continue accumulating). Madan Chartered Accountant team www.madanca.com

You're welcome! I hope that helps. Regardless of what happens, please post and let us know. It may be that others are going through the same situation. Madan Chartered Accountant team www.madanca.com

Hello kevs, According to the information provided, if you became a resident of Canada for tax purposes in 2013, and if you obtained a SIN in 2013, then you should have been accumulating a TFSA contribution since 2013. With 2013 and 2014 combined, this would give you a total room of $11,000...

Hello mikenz, You may have to pay tax installments towards your 2014 tax balance because your taxes owing in 2014 (estimated) and in 2012 or 2013 is more than $3,000, respectively. Also, you may have not made your March 15, 2014 installment payment (which is the due date for the first payment)...

Good clarification, steaky. desi2012, there was discussion before that the money to be transferred received will be after-tax and legal. If that is the case, then there won't be issues. Madan Chartered Accountant team www.madanca.com

Hello, I'd just like to confirm the following, according to the information you have provided in your situation: funds brought into Canada will not be taxed upon arrival worldwide income earned while a resident of Canada will be taxed after-tax Canadian income can be transferred any assets...

Hello PR_User, I hope you are well. You may want to try the following: 1) call CRA individual helpline at 1-800-959-8281 and confirm the address they have for you on file 2) call the same CRA phone number above and verify the status of your and your husband's personal tax returns 3) if the...

You're quite welcome, shamrock21! Madan Chartered Accountant team www.madanca.com

Hello Suin, Also, she may not have received a T5 slip perhaps because the income amounts were nominal. She should apply for a SIN if she intends to be here a while, and would like to take advantage of some social/economic benefits. Keep in mind that if she visits and stays in Canada for more...

No problem, please see example below. Let's say you and X have a joint account in a bank, say RBC, where you and X hold 50% of the account each. That account earns total investment income from dividends, interest and capital gains in 2013 of $100. RBC will issue each of you a T5 slip for $100...

Hello Suin, Both the citizen and the visitor will have to report their part of the income on their respective income tax returns. In other words, it won't just be the visitor who will pay taxes on the income exclusively, but both. Please let me know if you have any more questions. Madan...