by Joseph Truscott | Jan 6, 2020 | Taxation Articles by Joe Truscott
Overview Recently, Canada Revenue Agency introduced special legislation under Section 152.01 of the Employment Insurance Act for a self-employed person to claim Special Benefits under the Employment Insurance Act. Special Rules...
by Joseph Truscott | Jan 6, 2020 | Taxation Articles by Joe Truscott
Introduction The Income Tax Act requires each person who carries on a business to maintain complete books and records. Your records should be up-to-date. You should have invoices to support all of your expenses and your revenue. Generally you need to...
by Joseph Truscott | Jan 6, 2020 | Taxation Articles by Joe Truscott
The Tax-Free Savings Account was introduced in Canada to allow qualified individuals (essentially Canadian residents over the age of 18 who have a valid Social Insurance Number ) to be able to earn income, tax-free, on cumulative contributions of up...
by Joseph Truscott | Jan 6, 2020 | Taxation Articles by Joe Truscott
Overview This article discusses the Internal Revenue Service requirements that non-residents of the United States apply for, and the various steps required to successfully obtain, an Individual Taxpayer Identification Number (“ITIN”) The Form W-7,...
by Joseph Truscott | Jan 6, 2020 | Taxation Articles by Joe Truscott
use or common-law partner. On the death of that spouse, Canada Revenue Agency (CRA) will consider the entire value of the RRSP or RRIF to be taxable income.Spousal TrustsThese trusts, which fall under the category of testamentary trusts and work extremely well...
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