The government says you're generally eligible for the payment if you're at least 19 years old and a Canadian resident for income tax purposes a month before the Canada Revenue Agency (CRA) makes the payment and at the beginning of the month. The first GST payment of the year was sent o...
The first of these is that the rules may now apply even if a foreign trust has no Canadian-resident beneficiaries. The second is that a trust subject to the application of the provisions will be deemed to be resident in Canada for income tax purposes and liable to tax in Canada on its...
The first of these is that the rules may now apply even if a foreign trust has no Canadian-resident beneficiaries. The second is that a trust subject to the application of the provisions will be deemed to be resident in Canada for income tax purposes and liable to tax in Canada on its...
Capital Tax, an international tax firm specializing in Resident & Non-Resident Canadian and American Cross-Border taxation.
Becoming a Canadian Non-Resident for Tax Purposes Here’s where life gets really grey. Any expert worth the title told me that it’s important to always emphasize that the CRA will handle these residency decisions on a case-by-case basis and that there appears to be very little that is ...
It is not controlled directly or indirectly by one or more public corporations (other than a prescribed venture capital corporation, as defined in Regulation 6700 of the Income Tax Regulations). It is not controlled by a Canadian resident corporation that lists its shares on a designated stock ex...
To be eligible to opt out of the return of capital transaction, a shareholder must be an “Eligible Opt-Out Shareholder,” which means a shareholder (whether registered or non-registered) who is (a) not a resident of Canada for Canadian ...
Canadian Resident means, at any time, a Person who at that time is (a) not a non-resident of Canada for purposes of the Tax Act or (b) an authorized foreign bank deemed to be resident in Canada for purposes of the Tax Act in respect of all amounts paid or credited to such Person...
When a Canadian resident departs from Canada with the intent to live abroad, they may face specific tax implications, especially if they intend to sever their Canadian residency for tax purposes. Here’s a breakdown of the primary tax considerations:1. Residency Status... ...
Canadian Seller is not a non-resident of Canada for purposes of the Income Tax Act (Canada). Until the Closing Date, Canadian Seller will use its commercially reasonable efforts (but without the payment of any funds or monies therefore) to obtain consents listed on Schedule 3.04 and after the...