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:

Mark your calendar for the last week of October. Knowledge Bureau’s Fall Distinguished Advisor Workshop (DAW) promises some exciting and educational programming on issues your business clients commonly face. 

C.J. McCarty, was a specified shareholder/employee of the company, C.J. McCarty, Inc, (CJ,Inc.); he had only one client over a three month period of time, MEG Energy Corporation (MEG) and he received a fixed hourly rate for his services as the construction manager of a major project. 

The Canada Revenue Agency (CRA) recently extradited a tax preparer back to Canada from Italy and put her into custody to serve a 10-year sentence for tax fraud after she claimed $58 million in false carrying charges and charitable donations on over 4,000 returns.

Many of us are blessed to have older family members enriching our lives, but they often require a significant amount of care, and their caregivers can, in turn, require more help. At a time when politicians and potential leaders debate subsidized child care, are we missing an opportunity to discuss whether the tax system is doing enough to recognize the real and increasing costs of elder care?

Especially for experienced tax and financial advisors, unique planning opportunities with Canada’s top experts will provide 10 CE/CPD Credits and access to 2015 tax calculators.

Operating across national borders is easier and more common than ever, driven by technology and economic changes that make it appealing for individuals and businesses to purchase investment property globally.