LATEST TAX TIP ARTICLES

Tax processing core process - rental properties owned by non-tax residents As a non-resident for tax purposes, your rental income in Canada is subject to federal tax (not provincial tax). Filing your taxes involves the following two steps: 1. A 25% withholding tax will be levied on the gross rent (to be paid monthly on time). Procedure : Your tenant or property manager is required to withhold 25% of the total rental income each month after receiving the rent and submit it to

Avoid CRA Penalties, Interest Charges & Compliance Risks Before It's Too Late Every Year, Thousands of Business Owners Pay Avoidable CRA Penalties A new business owners deadline is exciting. Missing a tax deadline is not good. Many new entrepreneurs focus on sales, marketing, hiring, and growth, but overlook one of the most expensive business risks: Monthly Payroll Remittance Deadlines If your corporation has employees, payroll deductions must be remitted to CRA on time. Payr

The Canadian government has made a big change that affects many property owners. On March 26, 2026, Bill C-15 received Royal Assent. This bill cancels the Underused Housing Tax (UHT) starting with the 2025 tax year. If you own property that was affected by this tax, you no longer need to file a return or pay the tax for 2025 and beyond. This change brings relief to many homeowners and investors. But what exactly does it mean for you? Let’s break down the details and what you