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Approximately 85% of personal tax returns are filed electronically. Canada Revenue Agency processes these returns fairly quickly and many people have received their refunds. However, the process doesn’t end there. Canada Revenue Agency may revisit your return in July and request further information. Since a majority of the personal tax returns are filed electronically, no
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Leaving Canada to live or work abroad? Here is some important information about the reporting requirements for income tax when emigrating from Canada. Determining Your Residency For Tax Purposes Residency status is the primary issue that needs to be established before determining your tax liability to Canada. It’s often very difficult or complex to determine
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Once your business has committed to conducting a foreign currency transaction, you are exposed to exchange risk. There is a potential gain or loss that may occur as a result of currency rate fluctuations. For entrepreneurs who are involved in international trade, currency volatility has always been a concern. One example is the strengthening of
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