39 plain-English guides on canadian tax, each one ending in what to do next.
Page 2 of 2, newest first.
What happens when the CRA starts collecting: Requirements to Pay, wage garnishment, frozen accounts, liens, and the five ways to stop or slow it.
Canadian TaxWhat the CRA's gross negligence penalty under section 163(2) requires, how it differs from a regular penalty, and the burden of proof the CRA must meet.
Canadian TaxHow to file a CRA notice of objection, the 90-day deadline, what to write, real success rates, and your options if the CRA says no. Includes Form T400A.
Canadian TaxWhat to do when you disagree with a CRA reassessment. Objection deadlines, what to write, real success rates, interest during the dispute, and Tax Court.
Canadian TaxIf the CRA denied your notice of objection and issued a Notice of Confirmation, the Tax Court of Canada is the next step.
Canadian TaxCCPC status unlocks the small business deduction (9% on the first $500,000), the lifetime capital gains exemption, and refundable tax on investment income.
Canadian TaxRepresent a Client (RaC) is the CRA's online service that lets authorized representatives, like a CPA or tax preparer, access a taxpayer's information.
Canadian TaxA deemed disposition is a fiction in the Income Tax Act that treats you as having sold property at fair market value (FMV).
Canadian TaxA family trust in Canada is a type of personal (inter vivos) trust created during the settlor's lifetime, typically to hold assets for the benefit.
Canadian TaxCanada has no gift tax, and cash gifts aren't taxed to giver or recipient. Gifting stocks or real estate triggers capital gains for the giver, and US recipients may need Form 3520.
Canadian TaxCanada has no inheritance tax, but the deceased's terminal return owes tax on deemed capital gains at death. Provinces charge probate fees.
Canadian TaxCanadian trust law and tax law treat revocable and irrevocable trusts very differently, and the distinction matters more here than in the US. In the US.
Canadian TaxYou file Form T1135 if you're a Canadian resident whose foreign property cost more than $100,000 at any time in the year. Here's what counts, Part A vs B, and the due date.
Canadian TaxYou can hold US stocks in a TFSA, but the 15% US withholding tax on dividends is trapped inside the account. There is no foreign tax credit to recover it.
Canadian TaxAn RRSP is a tax-deferred retirement account in Canada. Contributions are deductible, growth is sheltered, and withdrawals are taxed as income.