CRA Interest and Penalties
Interest CRA will charge you compound daily interest on any unpaid amounts you owe. In addition, CRA will charge you interest on the penalties starting the day after your filing due date. Rate of interest CRA charges can change every three
Part XIII Tax
Part XIII tax is a withholding tax imposed on certain amounts you pay or credit to non-residents. These amounts include: Pensions, annuities, management fee, estate or trust income and payments for film or video acting services. You are responsible for withholding
Electing under Section 216 of the Income Tax Act
What is a section 216 return? As a non-resident of Canada, one can choose to file a separate income tax return for rental income earned in Canada. Choosing to send this return is called electing under section 216 of the income
Beware of the red flags when you cross border to enter U.S
Always have a valid passport or a passport equivalent identification. If a passport is likely to expire during the six-month visitor visa status can be grounds for a refusal to enter the United States. Travelling with U.S immigration documents such as completed
Non Resident Rental Income tax filing requirements
Non-Residents Rental Income Filing and Reporting Requirements When you receive rental income from real or immovable property in Canada, the payer, such as the tenant, or agent, such as the property manager, has to withhold non-resident tax at the rate of 25% on the gross rental income