Canadian Tax Services for Individuals
We provide a full suite of Canadian tax services for Canadian resident and non-resident individuals. Read on for details of some of the many ways we can help you with your Canadian tax needs.
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Compliance for Canadian Residents
Taxes in Canada are no simple matter. Our team of tax experts can help you navigate the complexities of your Canadian personal tax filings. For your convenience, we have included a list of some of the situations we often assist in:
Preparation of your annual Canadian T1 personal tax returns
Reporting income and gains on international investments
Completion of foreign reporting forms T1135 (disclosure of foreign investments) and T1134 (disclosure of foreign subsidiary companies)
Calculating foreign tax credits
Performing equalization calculations for employees working abroad
Responding to CRA foreign tax audits and reviews
Compliance for Canadian Non-Residents
Canada has many opportunities for individuals from abroad looking for a place to work and invest. Our team can help educate you on your Canadian tax responsibilities in Canada and can handle any filings you may need help with. Some of the items we commonly work on are below:
Section 216 Elective Personal Tax Returns to report your Canadian rental income
Section 116 Certificates to reduce withholding tax on the sale of Canadian real estate
Non-Resident Personal Tax Returns to report Canadian employment income, Canadian business income or gains on the sale of Canadian real estate
NR4 forms to calculate and remit withholding tax paid by non-residents on Canadian investment income
Immigrating to Canada
A move to Canada should not be taken lightly. Canadian tax rates are amongst the highest in the developed world and failure to properly plan in advance can be costly. As part of your move you should be careful to examine some of the following factors:
1) What sort of income will I have before and after immigration?
2) Do I have any opportunity to manage the timing of my income?
3) What will be the impact on my assets? Do I have an exit strategy?
4) Do I have an existing business? Will the business require restructuring to properly operate in the Canadian tax environment?
Our team can provide answers to these questions and ensure that your move to Canada is a resounding success.
Emigrating from Canada
You’ve had a great time in Canada but the time has come to explore the opportunities that await abroad. Leaving Canada is not a simple process and often comes at great cost. Fortunately, with careful planning these costs can be mitigated. As part of planning for your departure from Canada, our team can assist in examining some of the following issues:
1) Do I have an opportunity to manage the timing of my income? Recognizing income after you have left Canada may result in significant tax savings.
2) What sort of assets do I own? To what extent will these be subject to Canadian tax on the deemed disposition upon departure?
3) Have I maximized my RRSP and TFSA contributions before leaving Canada?
4) Do I have an existing business? Have I considered how the business may need to change as a result of my departure from Canada? Have I developed an exit strategy for the business?
The members of our team have helped hundreds of clients find answers to these questions. Let us develop a plan for your situation.