Archive for the ‘news’ Category

Internet income – time to start reporting

Posted on: February 15th, 2015 by Real Estate Accountants No Comments
Business activities via the internet

Corporations and self-employed individuals are now required to disclose any internet business to the CRA. This disclosure requirement was first introduced for the 2013 tax year however, the CRA revised the filing deadlines after the initial release of the form. For corporations, you are now required to include Schedule 88 with your corporate tax return […]

Announcement: Dube & Cuttini LLP merges with BDO Canada LLP

Posted on: December 15th, 2014 by Real Estate Accountants No Comments

We’re about to get a whole lot bigger! We’re pleased to announce that on January 1, 2015, Dube & Cuttini LLP will merge with BDO Canada LLP, one of the leading accounting and advisory firms in the country. In BDO, we have found a like-minded entrepreneurial partner that is looking for specialized expertise to grow […]

Capital Gains during the year? Consider selling losing stocks to offset the gains

Posted on: December 14th, 2014 by Real Estate Accountants No Comments
Offsetting capital gains, superficial losses

Have you experienced a large capital gain in 2014? Sold some property, or some good, non-registered investments? If you can sell some poor-performing stocks before the end of 2014, it is possible to offset the gains with the losses. And, even better, the losses can then be carried back for three years against capital gains, […]

Using corporations with real estate investments: Flips, RTOs and buy and holds

Posted on: December 8th, 2014 by Real Estate Accountants No Comments

We often get these two fundamental questions from real estate investors: Is it important to have separate corporations for rent to owns (RTOs) and flips vs long-term holds for our real estate investments? What happens if the property changes from one category to another? These questions answered, plus many other questions from the audience for […]

Leaving Canada? Make sure you stay on-side with the Canadian tax man…

Posted on: October 20th, 2014 by Real Estate Accountants No Comments
Canadian emigrating

Are you planning to leave Canada for the foreseeable future? While we will certainly miss you, you do still have some tax filings to complete, and you may have continued tax filing obligations after you leave. We’ve outlined a few of these key decisions and filing requirements below. Would I be considered a non-resident for […]

Do I have to pay my instalments to CRA?

Posted on: October 1st, 2014 by Real Estate Accountants 2 Comments
Paying cash doesn't pay

We are often asked, “Do I have to pay my instalments to CRA?” Usually we get a flurry of these questions after the instalment letters go out  from the CRA containing remittance slips and instalment schedules. (Although our clients also get an instalment schedule in their tax package.) The answers below apply to both personal taxes […]

CPP and 65 – Opting out

Posted on: September 18th, 2014 by Real Estate Accountants No Comments
Tree

A number of Canadians are working well into their retirement. And, if you’re 65, or who employ someone who is 65, you need to be aware of a very specific rule. Although this rule was changed in 2012, we still find clients who are caught off guard by it. Up until 2012, once you turned […]

Hey – what’s this annual filing notice reminder from Corporations Canada?

Posted on: September 9th, 2014 by Real Estate Accountants No Comments
Annual Filing Federal

Have you ever received an annual filing notice reminder via email from Corporations Canada? If you have a federally incorporated company, you should definitely receive this at least once a year. But, frequently we get questions from our clients about this annual filing email or letter. Often, people wonder, “Hey, I thought you guys had already […]

Making corporate loans for foreign investments? Understanding “deemed interest” charges is key

Posted on: August 13th, 2014 by Real Estate Accountants No Comments
Canadians

This article will be the first in a series related to the Canadian tax implications of Canadians investing in foreign countries, with a particular emphasis on the United States. As the series develops we expect that updates will be made to the previously published articles. Are you making corporate loans for foreign investments? Then, understanding […]

No printing required: How to sign your tax “paperwork” digitally

Posted on: July 7th, 2014 by Real Estate Accountants 1 Comment
Letter to MP, MPP on tax planning proposals

Many of our clients have moved to sending and receiving all of their “paperwork”, such as tax returns, financial statements, and bookkeeping, electronically through our secure client portal. However, we often need signed documents back from you, which allows us to efile returns, for example, or communicate with the Canada Revenue Agency on your behalf. This means the documents need […]