Being close to the border, we get lots of calls from Americans who plan to do business in Canada.  Here are some of the basic issues you need to understand. Canada – US Tax Treaty A tax treaty exists between our two countries to address tax issues.  The treaty defines, among other things, the jurisdiction…

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Automobile expense rules can be really complicated, especially for company owned vehicles because of the limitations on depreciation, lease and interest expenses and the need to think about taxable benefits that might accrue to the driver of the vehicle. Automobile expenses tend to require lots of administration and present significant tax risk because CRA views…

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Are you considering renting out a portion of your home? There may be some tax implications to consider – both for now and in the future. Principal residence exemption Often, when you sell your “principal residence” there is no resulting tax implication. This is because of the principal residence exemption, which allows an adjustment to the…

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Most small business owners eventually face the question of whether or not to incorporate their business by creating a limited liability company or “corporation”. Owners of small business corporations enjoy preferential tax treatment in Canada in the form of lower corporate tax rates, tax-free status on sale of small business shares and access to certain…

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