June 30 Tax Deadline is Looming for Non-Residents

An important deadline is approaching for non-residents with certain Canadian-source income. June 30 is the deadline to file elected returns under Section 216 (pertaining to rental income) and Section 217 (pertaining to Canadian source pension income). There may be significant consequences for missing this deadline as returns received after this date, generally aren’t accepted. Here’s what you need to know:

Employees who are leaving their jobs and who receive job termination payments or retiring allowances should do some tax planning, perhaps with RRSP contributions and other income splitting or deferral options.

Manitoba’s new government released its first provincial budget on May 31st, announcing three important personal tax changes that signal a change in direction from the previous regime. Small business in Manitoba also got enhancements to three tax credits.

There are two tax filing deadlines this month: June 15 and June 30; and they affect five different taxpayer profiles between them. Do you know which ones might apply to you?

Other than the recording and documentation of business expenses, the most common area that causes problems for proprietors is the claiming of mixed-use expenses.

With Fort McMurray residents slowly returning home to rebuild, Knowledge Bureau is pleased to make a donation of $11,250 on behalf of its students and staff.  In addition, CRA announced special taxpayer relief for victims.

Knowledge Bureau is pleased to announce that Brent Gleeson, a Navy SEAL combat veteran with multiple tours to Iraq and Africa, and writer for Inc.com and Forbes.com will speak at the Distinguished Advisor Conference, Nov. 6 to 9 in San Diego. Early registration is now open until June 30.