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:

Joint tenants are often comforted by the doctrine of survivorship – the survivor(s) take the property absolutely upon the death of the other holder(s).

New research tells us doing retirement income projections induces people to increase their savings and feel more satisfied about their retirement savings adequacy. This must-attend live workshop will provide you with the best tools to prepare tax-efficient retirement income projections, and apply income averaging and income splitting techniques on cutting edge calculators using a case study approach. Limited seats available – reserve your spot by September 15!

The financial landscape is constantly changing, and clients are seeking credible, trusted, and expert solutions to meet their complex financial needs and achieve their long term goals. This is why mastery in your field is so important, and Knowledge Bureau can help.

On August 29, the Department of Finance released draft legislative proposals that would implement various tax measures introduced in the February 11, 2014 budget as well as other measures including the modernization of life insurance policy exemption tests.

The draft tax legislation released late in August changes the rules regarding the taxation of the income earned on the savings in a life insurance policy.

Approximately 98% of Canadian business are considered to be “small to medium” sized, and CRA is hoping that personal visits with these enterprises can help to cut red tape, errors, and omissions for an overall smoother, penalty-free relationship with the tax man.