BUYING PROPERTY FROM A NON-RESIDENT If you are buying real estate — such as a house or condominium, or a commercial property — from a non-resident of Canada, you need to know about your obligation to withhold tax unless the vendor provides you with a “section 116 certificate” from the Canada Revenue Agency. A non-residents […]
The days of the Canada Revenue Agency taking a kinder, gentler approach to its relations with taxpaying business owners are long gone. From employing sophisticated algorithms to tightening rules around its own Voluntary Disclosure Program, Ottawa has become accustomed to using increasingly aggressive tactics to collect overdue taxes and punish alleged tax cheats. In some […]
Recent changes to federal tax rules related to life insurance policies could have a significant impact on tax, estate and financial planning for some entrepreneurs. The good news: there’s still time to act and adjust your insurance strategy before these changes take effect in 2017. It’s important to note that tax rules related to life […]
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