Foreign Tax Credits are almost always reviewed by the Canada Revenue Agency (CRA), at least for individual taxpayers. Interestingly, based on our experience, this is often the most easily mistaken area for the DIY tax
T1134 has changed for the tax years starting Jan 1, 2021 with additional reporting and disclosure requirements.
Many of Canadian taxpayers maintain a second home, a vacation property, or hold a U.S. real property interest for investment purposes. In 2020 and 2021, there is an upward trend of dispositions of U.S. real
In recent days, we have received a couple of inquiries from our blog subscribers and readers about the foreign rental income of Canadian residents. This post is for general information purposes and cannot be relied
Canada is a country having vast immigrant population. Every year new immigrants come to Canada and gradually achieve their immigration status as permanent residents and ultimately Canadian citizenship. If you are a new permanent resident
Canada taxes its residents on their worldwide income. You become a resident of Canada when you establish residential ties with Canada. The year in which you become a resident of Canada is considered a part-year
