Things to know when leaving Canada

If someone is leaving Canada, he/she is deemed to be an emigrant of Canada for tax purposes. See more things to know when leaving Canada.

Tax requirements for non-residents of Canada earning rental income

Non-residents of Canada who earn certain types of Canadian source income may be taxed on this income in Canada. Those that earn income from rental properties are taxed on this income in a very specific manner. Some of basic steps to know tax requirements for non-residents of Canada earning rental income from Care: Once the […]

TRANSFERRING CAPITAL LOSSES TO A SPOUSE – YEAR END TAX PLANNING TIP

Here we are with another Year end tax planning tip for you. Capital losses can be transferred to a spouse or common-law partner by selling the loss shares, and having your spouse purchase those shares within 30 days.  You are denied the superficial loss, but the loss amount is used to increase the cost basis of […]

DONATING CAPITAL PROPERTY?

When you are donating capital property, there is a disposition for tax purposes, which may result in a capital gain.  The fair market value (FMV) of the property donated is used as the proceeds of disposition, and as the amount of the donation.  In some circumstances it may be helpful to designate the proceeds amount […]

TAXATION OF BITCOIN AND OTHER CRYPTOCURRENCIES

Calgary Corporate Tax accounting crypto

The meteoric rise, and subsequent tailspin, in the price of bitcoin has incited rampant investment in cryptocurrencies. Over 1,400 coins or tokens are now in “circulation”. Often lost in the resplendence and chicness of buying and selling cryptocurrencies are paving way for taxation of cryptocurrencies . TAXATION OF CRYPTOCURRENCIES At a basic level, cryptocurrencies (or […]

Starting a new Business? Here is what you need to know

Starting a new Business? Here is what you need to know. The Canada Revenue Agency provides a Checklist for Small Businesses to help you understand each stage of your business cycle. Find out more here. Feel free to contact us and book a free consultation today.