If you pay non-residents for services performed in Canada, other than in employment situations, you may be required to file a T4A-NR. The T4A-NR slip is used to report all amounts you paid to non-resident individuals, partnerships, and corporations for…
From time to time the government imposes filing requirements on certain industries. The T5018 statement of contract payments is one such requirement placed on the construction and related industries. If you are an individual, trust, partnership or corporation involved in…
Commissioned salespeople are often used to mitigate costs and incentives sales within an organization. While considered self employed, if your organization utilizes commissioned salespeople, your organization should be completing a T4A for them. A T4A slip is an information return…
Oftentimes, the best investment is in yourself. And the best stocks to invest in is your own corporation. If you have already figured out how to invest in your own corporation and now need to paper that dividend payment –…
Businesses are the engine of the Canadian economy as they provide the opportunity for individuals to work. If you have employees in your corporation (including yourself) – you must file a T4 slip by the end of February. With the…
Surplus stripping is back in the news with recent changes to legislation. This makes it imperative to understand past court decisions on this matter. Surplus stripping allows a taxpayer to receive funds that that have been earned by a corporation…
The Kruco case is a pivotal case in the determination of safe income available for a tax-free intercorporate dividend from a subsidiary to its parent company. The CRA’s inconsistent position on this has been interesting. I posed a question to…
Generally, probate fees are not a planning priority in Alberta because fees are nominal (ranging from $25 to $400). However, if an individual who lives in Alberta and has property in another province (or outside of Canada) or is planning…
As we gear up for back to school for the little ones, it is important to prepare for the years after graduation. If you anticipate your children will attend post-secondary education, planning for this costly period should be done years…
An Express Trust is set up with a legal act with the intent of a trustee to manage trust property on behalf of beneficiaries. This has proved to be an effective transfer and store of wealth as well as a…