Most Canadians holding U.S. PTPs will not qualify to apply for an ITIN in advance and must wait until they receive a 1042-S and attach the ITIN application to the U.S. 1040NR tax return.
Bare trusts and in-trust (ITF) accounts may need to file a T3 income tax return.
This newsletter has been prepared to provide an overview of the tax measures and assistance available to businesses and families in the midst of the Covid-19 pandemic. A copy of this newsletter can be downloaded here. It is a concise summary of the measures announced up to and included Wednesday April 9, 2020. Discussed in the newsletter: Filing deadline and…
The Government of Canada has announced the Canada Emergency Wage Subsidy (CEWS) that will provide a subsidy of up to 75% of wages paid to a maximum benefit of $847 per week per employee.
The 2014 4rd quarter edition of tax Tips and Traps is out! In this edition: Tax ticklers – Quick points to consider Small Business Job Credit CRA Liaison Office Initiative Principal Residence – Partial conversion to an office Tax Payments – Online Collections Options – When you owe the CRA and can’t pay Estate Planning – Digital assets Registered Charities…
Many American citizens and other “U.S. persons” in Canada are unaware and even surprised to find they have to file income tax returns, report their bank accounts and make other disclosures to the IRS in addition to the Canadian filings. The United States requires that all citizens file a U.S. income tax return and report worldwide income. The net broadens…
