by Joseph Truscott | Jan 6, 2020 | Taxation Articles by Joe Truscott
What do you do if the Canada Revenue Agency issues you an income tax or GST Notice of Assessment (or Reassessment), and you believe the Agency is wrong and that you should not be paying so much? The Canada Revenue Agency’s Role As you may know, the Canada Revenue...
by Joseph Truscott | Jan 6, 2020 | Taxation Articles by Joe Truscott
The Voluntary Disclosures Program The “Canada Revenue Agency Guidelines for the cancellation and waiver of interest and penalties” outline that penalties and interest may be waived or cancelled in whole or in part in order to facilitate collection where: They result...
by Joseph Truscott | Jan 6, 2020 | Taxation Articles by Joe Truscott
In the Ontario provincial Budget, the government announced its intention to harmonize its retail sales (RST) with the federal GST effective July 1, 2010. The new harmonized sales tax rate would include the 5% GST and 8% RST for a combined Ontario HST rate of...
by Joseph Truscott | Jan 6, 2020 | Taxation Articles by Joe Truscott
Canadians must file a tax return and pay taxes in the United States even if they are residents of Canada if they meet certain criteria that is determined by American tax law and by the Canada-U.S. Income Tax Convention, a treaty that generally deals with citizens of...
by Joseph Truscott | Jan 6, 2020 | Taxation Articles by Joe Truscott
When it comes to U.S. real estate properties, there are tax, financing and insurance issues that should be considered. Here is a brief list of some of the issues you should consider carefully before you purchase a condo or rental income property in the U.S.: Decide...
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