Tax Return Filers Professional Corporation

Yes. All services are available online through secure channels, and virtual meetings are scheduled to review the returns and answer the client's questions.

Yes. We deal with non-resident tax filings for clients worldwide.

Yes. We serve clients in Alberta, British Columbia, Manitoba, Saskatchewan, Quebec, and across Canada.

If it is filed after June 30, CRA will not accept the return, and the tax withheld on NR4 will be final and non-refundable.

The deadline to file a Section 217 return is June 30 of the following year.

Pension income, CPP, OAS, RRIF withdrawals, and certain employment income.

If a non-resident receives a Canadian source income, they may elect to file a return to pay tax on Canadian income at regular rates instead of withholding tax.

Purchase agreement, sale agreement, lawyer statements, proof of cost, and estimated capital gains.

CRA charges penalties $25 per day to a maximum of $2500 plus interest.

CRA, on average, takes 6-8 months to process the application for a certificate of compliance.

Within ten days of the sale or disposition. You can also file 30 days before the closing of the property to save processing time.

Yes, if a non-resident sells real estate, the lawyer will withhold 25% of gross sales if the property is not rental or if the property is rental and no depreciation is claimed during the rental period. If the property was rental and depreciation (Capital Cost Allowance-CCA) was claimed, then the lawyer may withhold 50% of gross sale proceeds.

A certificate issued by CRA confirming that the non-resident seller has reported the sale of Canadian property and paid the tax.

What is the processing time for NR6?

Yes, you need a Canadian tax resident who can act as your agent to apply for NR6 approval. Both the property owner and the Canadian agent.

It is advisable to file an NR6 request before the first rent payment of the year or at the start of rental activity.

A request to reduce withholding tax on rental income from 25% percent of gross rent to withholding based on estimated net income.

You should get the non-resident account by logging onto your CRA account or by calling CRA. You should remit the 25% withholding tax to CRA using the NR account. At the end of the tax year, send an NR4 proforma requesting CRA to issue NR4 slips. These slips should be enclosed with the section 216 return to claim a refund.

Yes. Your agent must file the NR4 at the end of the year and give you a copy of the NR4, which will be enclosed with the section 216 return filing to claim a refund.

If NR6 is approved by CRA, then the section 216 must be filed by June 30 of the following year. If you fail to file by June 30 of the following year, then CRA may cancel and NR6 and ask you to pay 25% withholding on gross rent.

Mortgage interest, property taxes, management fees, repairs, maintenance, insurance, utilities, and depreciation.

A non-resident who earns rental income in Canada should file a section 216 return to report the rental income and expenses and pay 25% on net rental income instead of paying 25% tax on gross rent.

Yes. Self-employed taxpayers are audited frequently due to business expenses, home office, and vehicle-related deductions.

Respond without delay. Provide supporting documents. Seek professional support.

CRA requires you to keep records for at least 6 years.

Large variance from last filing, large rental losses, large deductions, business losses, inconsistent reporting, or missing slips, etc.

Yes, we help you with cloud-based bookkeeping. You can pull the report anytime to see the real-time financial situation.

Yes. We help you with monthly, quarterly, and annual bookkeeping.

Documents such as invoices, receipts, payroll details, bank statements, credit card statements, and loan agreements.

It supports accurate tax filing, financial statement analysis, and CRA compliance.

CRA charges penalties and interest on the amount owing. Late filing may trigger an audit by CRA.

GST/HST paid on eligible business expenses, and you can get a refund if ITCs are more than collected GST/HST.

Filing frequency depends on your revenue. Monthly, quarterly, or annually.

Businesses earning more than $30,000 in taxable revenue in a year.

The best structure depends on income, deductions, RRSP goals, and long term planning.

A reduced tax rate for Canadian controlled private corporations on the first five hundred thousand dollars of active business income.

Financial statements, bank statements, payroll records, HST filings, shareholder loans, and prior tax filings.

6 months after the end of the corporation’s fiscal year. Suppose the fiscal year ends on December 31, the deadline to file is June 30 following year.

Yes. All corporations must file a T2 return each year, even if it is not operational.

You must register once your annual taxable revenue exceeds $30,000.

Yes. It is advisable to do bookkeeping for accurate books and support proper deductions and reduce audit risk.

Yes. CRA requires proof of all expenses in case of an audit. Receipts should be kept for 6 years.

The filing deadline is June 15. If any balance owing is due by April 30.

Expenses like home office, vehicle, advertising, supplies, travel, meals, equipment, software, professional fees, etc., but not limited to these. Any expenses related to earning the self-employed income can be deductible.

CRA will issue a Notice of Reassessment. You may respond with documents to support your claim.

Electronic filing with direct deposit may result in refunds within two weeks, but it may take longer if CRA assess late.

Yes. To get GST credits, climate action amounts, Canada child benefits, and other credits.

Yes. You should file as soon as possible. If there is an amount owing, CRA will charge penalties and interest.

The deadline is April 30 of the following year.

You need T4 slips, T5 slips, T3 slips, RRSP receipts, tuition slips, medical receipts (out of pocket), childcare receipts, and your last Notice of Assessment to confirm RRSP deduction limit.