Net Investment Income Tax (NIIT)
The NIIT is a tax at the rate of 3.8% that is applied to many different investments and is assessed on trusts, estates and individuals if their income is above the statutory threshold amounts. Individuals who are exempt from Medicare taxes,
11.2.2 Canadian Interpretation of the Treaty
11.2.2[a] Article XI(1) – Residence-based Jurisdiction to Tax Article XI(1) confirms the jurisdiction right of Canada to impose tax on the interest arising from the U.S. sources and paid to a Canadian resident. Secondly, Article XI(1) defines the scope of payments that
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
Some facts about non-residents tax filing in Canada
Are you a non resident of Canada looking for tax filing solutions? If so then you would know that there are various aspects about filing your tax returns as a non resident in Canada. You must have a clear conception
Disclosure norm requirements in the US explained
The US tax laws require a lot of financial information in regard to your finances. There may be a situation wherein you or your family members may have direct or indirect control over a non-US corporation and you may also