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Your source for expert commentary and information in the fields of tax, accounting, human resources, estate planning and technology.

Are you eligible for a tax-free dividend?

If you are an owner of a private corporation, then certain transactions could provide you with an opportunity to make tax-free withdrawals from your company. These tax-free withdrawals occur in the form of a capital dividend from your Capital Dividend Account. What is a Capital Dividend Account (CDA)? The CDA is a notional account that […]

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Selling into Quebec? New QST rules may apply to you.

Are you a non-resident of Quebec who sells to individual consumers in “la belle province”?  If so, new Quebec Sales Tax (QST) registration rules may apply to you. The 2018 Quebec Budget included the announcement of a new QST registration system designed to address online transactions between Quebec residents and out-of-province businesses. If taxable supplies […]

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Do recent changes to CCA rules affect your business?

Capital Cost Allowance (CCA) is the tax equivalent of depreciation—it is the portion of the total cost of eligible capital assets that can be deducted for Canadian tax purposes. The first year CCA is claimed, businesses are generally limited to a deduction equal to half the amount calculated using an asset’s specific CCA rate. This […]

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Is my Canadian Corporation required to file a U.S. tax return?

Every now and then a client with U.S. customers or U.S. sales agents will ask us if they are required to file a U.S. tax return. As a foreign corporation, the IRS requires you to file Form 1120-F if, during the tax year, your corporation: was engaged in a trade or business in the U.S.—regardless […]

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