Vehicle Exports and the CRA
In recent years there has been a growing industry of purchasing vehicles in Canada, and then exporting those vehicles to other countries. The reason for this is because vehicle pricing is different from country-to-country. What costs $50,000 in Canada might retail for $150,000 in another country.
When a vehicle is purchased, GST/HST is...
Non-Resident Section 216 Election
Late Filed Section 216 Election for Non-Residents
Non-residents of Canada are taxed on their worldwide income. For example, if a non-resident owns Canadian rental property, they are required to report the respective rental income in Canada and remit a 25% withholding tax on the gross. Net income if...
Canadian Taxation is based on Residence & Source
Canadian Residence and Canadian Source Income
Canadian residents are taxed on their worldwide income and non-residents are taxed on income from Canadian sources. The underlying policy is that a resident Canadian is utilizing the social benefits taxation enables (healthcare, roads, etc.) therefore they should pay their...