Non-resident rental income: What are the tax obligations?

Fuller Landau team • December 14, 2023 If you are a non-resident who earns rental income, you must meet certain tax obligations with the Canada Revenue Agency (CRA). The income you earn from rental properties is subject to tax under Part XIII of the Income Tax Act (Canada). Rents earned by Non-residents are subject to tax under Part XIII at a rate ... Read more

New trust reporting rules now in effect

Fuller Landau team • November 23, 2023 The federal government announced new trust reporting rules in the 2018 Federal Budget to improve the collection of beneficial ownership information with respect to trusts. The rules were introduced to effectively counter aggressive tax avoidance as well as tax evasion, money laundering, and other criminal activities relating to trusts. The new trus ... Read more

Which path forward is right for your business?

Fuller Landau team • October 26, 2023 The past few years have significantly impacted many businesses, in many cases disrupting even the best laid plans. As society moves towards a semblance of normalcy, many owners are finding themselves at a crossroads in terms of planning a future path for their businesses. Perhaps that path is investing to sustain operations or spur growth. ... Read more

A guide to Ontario’s Non-Resident Speculation Tax

Fuller Landau team • May 29, 2023 Ontario’s Non-Resident Speculation Tax (NRST) is commonly referred to as the foreign home buyer’s tax. What is the NRST? This tax is over and above the Ontario land transfer tax paid on the purchase of a residential property and applies to home purchases made by certain foreigners. When introduced in 2017, it impacted properties in ... Read more

Federal budget 2023

Fuller Landau team • March 28, 2023 On March 28, 2023, Deputy Prime Minister and Minister of Finance Chrystia Freeland delivered the 2023 federal budget. The Minister boasted that Canada experienced the strongest economic growth in the G7 over the last year and that low-cost daycare has resulted in a record level of Canadian women participating in the workforce at 85.7 per ... Read more

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