CANADIAN INCOME TAX FOR NON-RESIDENT TAX PAYERS

Canadian Income Tax is a joint responsibility of the Federal as well as the Provincial or Territorial Governments. Under the Constitution Act of 1867 taxation is undertaken by the Canadian government. According to the Supreme Court ruling of 1930:

• Taxation is enforced by the law of the land
• authorised by the legislature
• implemented by a public body
• to be used for development of the general public

Income tax forms one of the most important sources of revenue for Canadian Federal Government as well as the Provinces. In fact the income tax collected from individuals is many times more than the corporate taxes generated in the provinces. Canadian Revenue Agency or CRA which is responsible for the collection of the taxes. It is a Federal government agency and collects both personal and corporate taxes on behalf of the provincial and territories.

The tax payers of Canada have to do the self -assessment of their tax liability and pay the taxes by a due date to CRA.CRA undertakes the checking of the tax returns filed by the payers and then would inform them if any errors are found. If the tax payer is not satisfied and objects to the review done by the CRA, then the individual can appeal in the Tax Court and the Federal Court of Canada.

The individual has to pay taxes on the basis of the amount taxable income for a particular year. The various means by which a tax payer can pay the taxes are as follows:

• Tax deduction at source
• Pay through installments
• Income tax return by a due date
• Payment after due date as arrears

There are certain other deductions from the Income that are done by the employer such as Pension Plan, Employment insurance, Parental Insurance.

If any individual has overpaid then he/ she is refunded in their bank accounts directly after filing their tax return which is usually April 30^th.

There is another source of through which the Canadian Government earns revenue which is Non –Resident Tax. According to this the non resident Canadians who

• Those who have stayed in the country for more than 183 days
• those who do not have any residential links with Canada such as a residence, spouse, property, social ties etc
• those who are not considered as resident of a different country as per the tax laws of Canada
• If an individual is factually a resident of Canada and also has a citizenship of another country too with whom Canada has a tax treaty, will be considered as a deemed-non-resident and such an individual will be covered under the Canadian income tax law.
• Also those individuals who have driver’s license, credit card, bank accounts and health insurance schemes are considered to have residential links or ties with Canada.
• Anon-resident individual who earns from sources in income has to pay income tax depending upon what kind of that income is and whether it comes under the tax regime or laws of Canada.
• Income by a non-resident is subject to Part XIII of tax else Part I of tax.

How to find the best tax specialist in Canada?

Hiring a tax accountant can benefit all types of taxpayers. Before you start your search, you might be wondering about all kinds of tax pros out there or who can do your taxes. There are two types of tax professionals that are most appropriate for most people-enrolled agents and certified public accountants. In case you get audited, both types can represent you before the IRS. You should find an experienced tax specialist who specializes in the areas in which you need help. Here are some simple steps you can take to find the right professional for your situation, to protect yourself before you spend your hard-earned cash.

• Referrals are best .Ask everyone you can think of: friends, business owners, family, financial advisors and attorneys. It will be best if you ask someone who has a similar tax situation to yours.

• Beware of an accountant who says that you can deduct everything or promises you big refunds. You are ultimately responsible for the information on your tax return, not the tax consultant

• Do not be afraid to change accountants or shop around if you are not comfortable.

• Retail tax franchises offer competent tax service for individuals who need to file relatively straight-forward tax returns. You can sometimes find CPAs and Enrolled Agents working in these offices and some tax preparers will be more experienced than others. Prices are often determined by how many tax forms need to be filled outfit is good if you can meet with a CPA, senior tax preparer or an enrolled agent. You'll pay the same, but can get to speak with a seasoned professional.

• Local, independent tax firms often specialize in the tax needs of small businesses and individuals in their neighborhood.Some independent tax accountants will be more experienced than others. It will be good to ask if the firm has the expertise to handle your taxes.

• Enrolled Agents (EAs) are tax professionals who have passed background check and a rigorous test administered by the IRS. Enrolled agents often specialize and are best for complex tax situations.

• Certified Public Accountants (CPAs) are accountants who have passed the rigorous CPA Exam and are licensed by the state they work in. CPAs generally expertise in a specific area, such as business consulting or audits tax.Not all CPAs handle tax issues but CPAs are best at complex accounting work.

• Tax attorneys are lawyers who have chosen to specialize in tax law. Tax attorneys will often have a master of laws degree in taxation (LL.M.) in addition to the required juris doctor (J.D.) degree. Attorneys are best at complex legal matters, such as taking your case before the Canada Tax Court or preparing estate tax returns.

Your guide in tax payments!

Tax is a common term that we all come across in our daily life, such as education tax, service tax and a never ending list of taxes. But what is tax? Tax is an excise duty that government imposes on individuals or firms to continue experience the multiple services facilitated to them by the government. Once in every year all the citizens of a particular state need to file a tax charge.

For paying tax it is important to keep a track of all the important expenses and purchases one has made throughout the year, also including your travel expenses. But as a general trend, we keep on delaying this very essential upgrade and thus find ourselves attracting to penalties. Even your stay in abroad for a long duration is liable to crown you with a non resident tag and thus imposing a non residential tax on you. To avoid this condition, one can seek help from tax consultants.

Tax consultants are people who have completed their higher studies in the fields of accounting and taxations. Their superlative knowledge about the rules and regulations of tax laws makes them a handy and reliable resource in handling tax filing to paying problems. Their assistance also offers a great peace of mind and a considerably better financial status.

The most notable advantage of hiring a tax professional is the valuable tips that he extends to help us cut down on the tax costs. They also act as tax preparers and assist in formulating the needed records and papers, required during taxpaying. One should not forget that his own valuable input is of utmost importance in furnishing the records. Their expertise and skills in the field assure you of no troubles and penalties during and after the process.

These consultants can be hired on per session basis or you can even book them for a month, as per your budget. They may be individuals or firms running tax consultancy. Whosoever you choose assure that the person is reliable and credible. One should check for the qualifications and research in detail about the company he/she wishes to hire to meet success with ease. If not checked, your financial condition may further deteriorate and you may end up landing into a trap.

Whenever possible meet the consultant in person and look for traces of clients that one has already dealt with. Whether the consultant is registered or not, is also an essential element in choosing the right expert for you. Also there are agencies that specialize in some or the other niche; for example a company would be relatively superior in catering official taxes, therefore, always trust and sign deals with the most reputable professional in this field.

Taxing is an important part of an individual, organization and the state itself. This imposition made by the government eventually is for our own benefit and also helps in progress of our nation. Therefore one must abide by the tax laws and should pay them in time to avoid punishment charges.

The most pragmatic solutions for your nonresident taxation needs!

People all over the world, have been in the constant look out for ways to minimize their taxes, and maximize their savings. This has not always been a very successful ordeal, more so, if you are a non-resident in Canada, and are supposed to be a part of the economy by paying taxes. People might not be awake that doing certain things may make them enter the category of taxpayers in Canada. This can happen when you own a license, or purchase a house here. It is extremely difficult for non-residents to properly understand the tax havens related to being a non-resident taxpaying person.

For all such people, chartered accountants are a one-stop solution in all their needs to help them with their tax paying laws, and entitlements. This makes it easier for people like them to get the best of solutions, without having to go through the legal hassles. These chartered accountants should be hired based on their years of experience and specialty. Reputation is also a very deciding factor, for all such purposes. These are exceptionally trained to handle problems like yours and those related to nonresident tax payments.

The taxation rules are quite confusing in Canada, and they sometimes vary with province, for all such setbacks that you may have for lack of knowledge these services will come handy. What people need to understand is that, not everyone owning a car, or home or furniture is liable to pay taxes, if they are a non-resident. The fact is many of these people may be exempt from doing so, without any knowledge. This exemption can come from a number of reasons, like mutual understanding between the two governments, or because of very specific treaties signed by them. There may be other things that you may be entitled to like, rebates and certain differential treatments based on the lines, of previously mentioned things.

It is not easy for everyone to understand and more importantly incorporate them in their financial calendar, this is why usually, people opt for chartered accountants to properly aid their tax planning and how to take measures like fixed deposits, funds and other such things to minimize paying taxes and increase returns. Looking for a suitable accountant may be another daunting task, but if you are set for it, there are many ways you can find one in your nearest area. The key, is to find someone, who is worthy of getting paid to do these kind of assessments and planning for you, even if the person Is sitting thousands of miles away. This distance is not much of concern, anyways these days for the fact that technology has made the whole world shrink to a size where n0othing is far enough.

Therefore, to get the most returns out of your income tax payments, consider hiring a professional to do the job for you. This will make sure that you are in accordance with the laws, as well as save a lot of that money you could not have without this professional help!

Keep yourself informed with real tax experts!

Every country has a specific set of rules to manage the constant cash flow to the country’s economy; one such necessary rule to follow is paying your taxes on time. Not many of you might know, that taxes are not only paid by the residents of the country, but also those immigrants that are staying in the country and fall under the category of having taxable income. This Canadian taxation of non-residents, Is not a novel phenomenon, on the other hand, it is almost predominantly present in all the countries, more or less. To fall under the category of taxpaying nonresident, there are criteria that need to be met. To get a brief idea about them, read on!

Those immigrants, who obtain a driving license, are working for any Canadian company, or have an income at taxable limits are all eligible to pay taxes. In addition, those who have bought any type of real estate are also entitled to pay Canadian income tax. In such situations, even though you know that you are liable to pay taxes, you would like to save money on it, and get professional help. It is of utmost importance, to be correctly informed about the procedure of these tax payments. Which forms to fill, what are the deadlines and how to go about it? A professional will guide you through the whole process, so that you do not have to lose your sleep over such trivial matters.

This professional can be an accountant or better still a chartered accountant. These are better options than lawyers are because lawyers have a limited skill set, when it comes to taxation and such procedures. These processes on the other hand, can be undertaken with ease and finesse by the accountants, for they are specially trained in this respect. Mathematical calculations and tax calculations are very easily done by them, and you get results within a matter of minutes. In case, you are thinking of hiring one, it is not that difficult a task. All you have to do is, look for the most preferred accountant in the area, get your friends and relatives to set you up with one of these accountants and try surfing until you zero in on what is best for you.

These accountants will help you get proper knowledge of the category you fall in, and whether or not you can be exempted from paying g taxes. Tax evasion is a crime, but investing your money properly so that you get a lot of that back as income tax returns is legal as well as a wise decision that you should make well within the stipulated time. The best part of these services is that you can clearly map out the exact schedule of payments, and the chartered accountant will help simplify things for you. Therefore, no matter what your tax paying status, if you genuinely want to save yourself from the troubles of the taxpaying, hire a chartered accountant today!

Get the best tax consultation, imaginable!

Money makes the world go round, you may have heard of this proverb many times. The fact is that not only citizens, but also a country needs money, to facilitate the process of development in the country. This money is taken from the residents and non-residents of a country, in the same manner. These international tax rules are as stringent for non-residents, as they are for the citizens of a country. In Canada, there are certain laws that govern these taxation processes, they are almost the same as that as any other country for that matter.

The government expects taxes, to be paid from the income you receive from being employed in the country. There are certain laws related to the nonresident taxation policies, according to which you can decide which category of taxpayer you belong to. You should be aware as to what are your obligations, rights and entitlements are. These laws can sometimes, be very stringent as well as confusing and for understanding these you may need professional help. If you think, that professional help can effectively be derived from accountants or lawyers, you may be left surprised as how incomplete their knowledge could be. For the most effective of solutions, you need real tax experts, with genuine experience and expertise in the field.

Anyone, in such a position, would like to have the best in the field of tax consulting. The most important factors that you need to look for, in the firm you may be relying on are consistency, reputation, and real knowledge. The agency must enlighten the situation to you, and you should be informed about the criterion with which you are classified as a non-resident. There are some factors that make you an eligible candidate for paying the taxes in Canada, like buying a home or getting any sort of property. You will be classified as a non-resident taxpayer if you were to hold a driving license in Canada, or if you have a spouse or dependant family members here. The list is quite wide, and to save yourself from any sort of legal trouble, it would be a wise decision to get the best legal tax professional help possible.

The agency you approach for all these matters should have proper knowledge of the proceedings involved. There are many top-notch agencies, which let you get instant information on these taxation rules, on Skype, or chat, or even with a phone call. While looking for such services, always make sure that the agency is properly accredited and affiliated. This will ensure that the information is reliable and will not cause any problems for you. One of the most important things to consider, is that you should try to get the first evaluation, done as a trial, so that you avail it for free and get to know whether the agency is of any use to you or not. Getting the best taxation advice, especially if you are a non-resident, is of paramount importance to avoid any future complications!

Money makes the world go round, you may have heard of this proverb many times. The fact is that not only citizens, but also a country needs money, to facilitate the process of development in the country. This money is taken from the residents and non-residents of a country, in the same manner. These international tax rules are as stringent for non-residents, as they are for the citizens of a country. In Canada, there are certain laws that govern these taxation processes, they are almost the same as that as any other country for that matter.

The government expects taxes, to be paid from the income you receive from being employed in the country. There are certain laws related to the nonresident taxation policies, according to which you can decide which category of taxpayer you belong to. You should be aware as to what are your obligations, rights and entitlements are. These laws can sometimes, be very stringent as well as confusing and for understanding these you may need professional help. If you think, that professional help can effectively be derived from accountants or lawyers, you may be left surprised as how incomplete their knowledge could be. For the most effective of solutions, you need real tax experts, with genuine experience and expertise in the field.

Anyone, in such a position, would like to have the best in the field of tax consulting. The most important factors that you need to look for, in the firm you may be relying on are consistency, reputation, and real knowledge. The agency must enlighten the situation to you, and you should be informed about the criterion with which you are classified as a non-resident. There are some factors that make you an eligible candidate for paying the taxes in Canada, like buying a home or getting any sort of property. You will be classified as a non-resident taxpayer if you were to hold a driving license in Canada, or if you have a spouse or dependant family members here. The list is quite wide, and to save yourself from any sort of legal trouble, it would be a wise decision to get the best legal tax professional help possible.

The agency you approach for all these matters should have proper knowledge of the proceedings involved. There are many top-notch agencies, which let you get instant information on these taxation rules, on Skype, or chat, or even with a phone call. While looking for such services, always make sure that the agency is properly accredited and affiliated. This will ensure that the information is reliable and will not cause any problems for you. One of the most important things to consider, is that you should try to get the first evaluation, done as a trial, so that you avail it for free and get to know whether the agency is of any use to you or not. Getting the best taxation advice, especially if you are a non-resident, is of paramount importance to avoid any future complications!

Get the best advice for your offshore tax planning!

In these times of economical downpour and recession, many people find themselves immigrating to other countries in search of greener pastures. Most of these people, immigrate to developed countries like Canada, or US, in search of jobs that pay well. What most of these people fail to understand is that they are equally liable to pay taxes, just like the residents of that country like Canada, for example. These taxation laws, are often complex, and require the help of professionals to understand and execute them properly.

Seeking professional help, for all your offshore tax planning needs, may be more difficult then what most people imagine. Most of the people do not have any idea, as to where and who to turn to in such needs. The first step they can go wrong at, is going to a lawyer for seeking help. What you need to understand is, that lawyers know about law, and have very little or almost no knowledge of the mathematical skills involved in getting the proper assessment of your taxes and returns. This can waste a lot of your money, on useless services that will not yield results.

For those of you, who may be thinking who to turn to, the answer is any chartered accountant that has good credibility and repute. One of the exemplary names in the field is Michael Atlas, one of the most reliable and versatile chartered accountants that has captured the fascination of people like you, that are entwined in these legalities and see no way of coming out of them. He has been helping non-residents with the issues of taxation since the year 1991, making him truly credible and his efforts applaudable! He has found his clients in lawyers, other accountants, general people like you and many more, this reflects the versatility of his clientele.

His efforts to make the Canadian tax havens understandable to the general public, is commendable. There are many ways, you can contact him, and not all of those involve visiting his office. You can very easily call him from any part of the world, for taxation related help and you may be mesmerized by the effectiveness with which he provides even the most minute of details. He is equally adept at providing national and international taxation advices, depending on what you need. His areas of services in the domestic category are helping with taxation needs in case of mergers and major acquisitions, and in cases where you want to sell off your business. Services provided to those undergoing reorganizations at the corporate level, may leave you with an experience that is unmatched. He is equally skilled in handling real estate related taxation needs.

These services are not only limited to domestic clients, but also cater to international clients. He can very easily let you know all the taxation laws that come as a part of being an immigrant, or transactions between countries, like US and Canada. His services have truly created a benchmark in consumer satisfaction and the place he holds in the field of nonresident taxation is self-explanatory of the reputation he has!