Home Non Resident Tax Advisor Downtown Toronto

Non Resident Tax Advisor Downtown Toronto

Downtown Toronto

Toronto Tax Consulting (Head Office)
401 Bay Street Suite 1600
Toronto ON M5H 2Y4
Tel: 416-628-7824 Ext.2

Downtown Toronto (Evening & Weekend)

Toronto Tax Consulting
1 Dundas St W Suite 2500
Toronto ON M5G 1Z3
Tel: 647-951-4852 Ext.2

Downtown Toronto

International Tax Advisor Office
161 Bay St. 27th Floor
Toronto ON M5J 2S1
Tel: 1-800-693-5950

Etobicoke, ON

Etobicoke Tax Consulting
3250 Bloor St W Suite 600 East Tower
Etobicoke ON M8X 2X9
Tel: 1-800-717-4162 Ext.2

North York, ON

North York Tax Consulting
4711 Yonge St 10th Floor
Toronto ON M2N 6K8
Tel: 416-628-7824

Mississauga, ON

Mississauga Tax Consulting
4 Robert Speck Parkway Suite 1500
Mississauga ON L4Z 1S1
Tel: 1-888-905-7577

Markham, ON

Markham Tax Consulting
15 Allstate Parkway Suite 600
Markham ON L3R 5B4
Tel: 416-628-7824

New York, NY

Toronto Tax Consulting
100 Park Avenue #1600
New York NY 10017, United States
Tel: 1-800-717-4162

Chicago, IL

Toronto Tax Consulting
30 S Wacker Dr #2200
Chicago IL 60606, United States
Tel: 1-800-717-4162

Washington, DC

Toronto Tax Consulting
1200 G St NW Suite 800
Washington, DC 20005, United States
Tel: 1-800-693-5950

Pasadena, CA

Toronto Tax Consulting
Century Square, 155 N Lake Ave Suite 800
Pasadena, CA 91101, United States
Tel: 1-800-693-5950

Miami , FL

Toronto Tax Consulting
201 South Biscayne Boulevard
Miami, FL 33131, United States
Tel: 1-800-693-5950

London, UK

Toronto Tax Consulting
37 Floor, Canary Wharf, 1 Canada Square
London E14 5AA, United Kingdom
Tel:  +44 20 3885 6292 

Toronto Tax Consulting solutions for Non Residents Tax. For more information please call 416-628-7824 and press 2 to speak with an advisor.  Non Resident Tax Advisor Downtown Toronto

For tax purposes, you are considered a non-resident if you permanently live outside of Canada and you do not have any primary or secondary residential ties to Canada. However, you may have some tax obligations to attend to and ensure that you are non-resident tax compliant. In order to confirm that you do not have tax obligations, it is recommended that you hire a tax accountant. The following are some areas in which Toronto Tax Consulting practices and is beneficial for non-residents.

Toronto Tax Consulting Services for Non-Residents (Non Resident Tax Advisor Downtown Toronto):

  • Determine residency status of an individual or corporation and avoid penalties and fines
  • Obtain an Individual Tax Number (ITN) or Non-Resident Tax Account Number (NR) or Business Number (BN) as required by the Income Tax Act
  • Open a GST/HST account or payroll account and determine if necessary
  • File an NR5 application to have the amount of Non-Resident Tax Withheld Reduced
  • File an NR6 form for rental properties to remit non-resident tax based on Net Income and not Gross Rents and reduce the amount of tax that is withheld and increase your cashflow
  • Attain Certificate of Clearance from Canada Revenue Agency for confirmation of compliance and taxes are paid and clear
  • Support your Canadian Lawyer with non-residency matters specifically tax related matters
  • File a Non-Resident Tax Return under Section 116, Section 216, Section 217 and Individual personal return or corporate as required

Toronto Tax Consulting Services for Individuals or Business Paying Non-Residents (Non Resident Tax Advisor Downtown Toronto):

  • Open an NR4 account
  • Assist in Non-Resident Tax withholdings and remitting requirements
  • File the NR4 Slip and Summary Information Return with Canada Revenue Agency
  • Attain taxpayer relief for interest and penalties on omitted or late filed returns

Taxation of Non-Residents – Non Resident Tax Advisor Downtown Toronto

Non-residents pay tax on income received from sources within Canada. The type of tax and requirement to file depends on the kind of income received. Canadian income received by a non-resident is subject to Part I tax or Part XIII tax. Unless there is a tax treaty between Canada and your home country reduces the rate, the Part XIII tax rate is twenty-five percent.

Part I Tax

The most common type of Part I Tax is if you sell or transfer taxable Canadian property, which includes real estate. When purchasing Canadian real estate from a non-resident, individuals have an obligation to withhold and remit twenty-five percent of the gross sale proceeds with respect to the purchase. When the real estate is depreciable property, such as a building use for rental or business purposes, this liability increases to fifty percent. The Canada Revenue Agency can enforce this liability for any purchaser who fails to withhold the tax, unless they had no reason to believe that the non-resident was not a Canadian resident. It is standard for the purchaser’s solicitor to either require the vendor to certify in writing as to the Vendor’s Canadian residency status or require withholding of this tax.

Certificate of Clearance – Non Resident Tax Advisor Downtown Toronto

If the Vendor obtains a “Certificate of Clearance” from the Canadian Revenue Agency on a timely basis, the withholding tax can be reduced or eliminated. The form must be filed with the Canada Revenue Agency in advanced of the disposition or within 10 days thereafter.

Part XIII Tax

Canadian income subject to Part XIII tax are:

  • Rental and Royalty payments
  • Management fees
  • Dividends
  • Old age security pension
  • Canada Pension Plan and Quebec Pension Plan benefits

When the income is paid or credited to the individual, Canadian payers must deduct Part XIII tax. An individual can elect to file a Canadian Income Tax Return for income which Part XIII tax was deducted when:

  • The individual receives Canadian rental income or timber royalties; and
  • The individual receives certain Canadian pension income.

It may be beneficial to file a Canadian Income Tax Return so that the individual may receive all or some of the Part XIII taxes paid.

Payment to Non-Resident

If the individual is the Canadian Payer to a non-resident, the individual is responsible for withholding and remitting Part XIII tax, and to report the income and withholding tax on an NR4 information return. The NR4 information return is due by the last day of March following the calendar year.

Failure to Deduct – Non Resident Tax Advisor Downtown Toronto

An individual may be assessed a penalty of ten percent of the required amount of Part XIII tax failed to deduct. Repeat offenders may be penalized twenty percent.

Filing a Income Tax Return

An individual must file a Canadian income tax return if you owe tax for the year, previously filed a NR5 form to reduce required taxes withheld, had a taxable capital gain or disposed of taxable Canadian Property or if the individual wants to claim a refund.

Non-Resident Tax Advisor Downtown Toronto

Other Forms for Non Resident Individuals and Corporations – Non Resident Tax Advisor Downtown Toronto

NR Forms

  • NRTA1 – Authorization for Non-Resident Tax Exemption
  • NR4 – Statement of Amounts Paid or Credited to Non-residents of Canada
  • NR5 – Application by a Non-Resident of Canada for a reduction in the amount of Non-Resident Tax required to be withheld
  • NR6 – Undertaking to File an Income Tax Return by a Non-Resident Receiving Rent
  • NR7-R – Application for Refund of Part XIII Tax Withheld
  • NR73 – Determination of Residency Status (Leaving Canada)
  • NR74 – Determination of Residency Status (Entering Canada)
  • NR301 – Declaration of Eligibility for Benefits (reduced tax) under a tax treaty for a Non-Resident Person
  • NR302 – Declaration of Eligibility for Benefits (reduced tax) under a tax treaty for a Partnership with Non-Resident Partners
  • NR303 – Declaration of Eligibility for Benefits (reduced tax) under a tax treaty for a Hybrid Entity
  • NR601 – Non-Resident Ownership Certificate – Withholding Tax
  • NR602 – Non-Resident Ownership Certificate – No Withholding Tax
  • NR603 – Remittance of Non-Resident Tax on Income from Film, Video or Acting Services
  • R105 – Regulation 105 Waiver Application
  • Section 216 tax returns
  • Section 217 tax returns
  • T1 departure tax returns
  • T106 – Information Return of Non-Arm’s Length Transactions with Non-Residents
  • T1287 – Application by a Non-Resident of Canada (Individual) for a reduction in the amount of Non-Resident Tax required to be withheld from income earned from acting in film or video
  • T1288 – Application by a Non-Resident of Canada (Corporation) for a reduction in the amount of Non-Resident Tax required to be withheld from income earned from acting in film or video
  • T1131 – Canadian Film or Video Production Tax Credit – Corporation
  • T1134-A – Information Return Relating to Foreign Affiliates
  • T1134-B – Information Return Relating to Controlled Foreign Affiliates
  • T1135 – Foreign Income Verification Statement
  • T1141 – Information Return in Respect of Transfers or Loans to a Non-Resident Trust
  • T1142 – Information Return in Respect of Distributions from and Indebtedness to a Non-Resident Trust
  • T1159 – Income Tax Return for Electing Under Section 216
  • T1161 – List of Properties by an Emigrant of Canada
  • T1177 – Film or Video Production Services Tax Credit
  • T1234 – Allowable Amount of Non-Refundable Tax Credits
  • T1243 – Deemed Disposition of Property by an Emigrant of Canada
  • T1244 – Election, Under Subsection 220(4.5) of the ITA to defer the payment of tax on income relating to the deemed disposition of property
  • T1248 – Information about your residency status
  • T1261 – Application for CRA Individual Tax Number (ITN) for Non-Residents
  • T1262 – Part X111.2 Tax Return for Non-Resident’s Investments in Canadian Mutual Funds
  • T2016 – Part XIII Tax Return Tax on Income from Canada of Approved Non-Resident Insurers
  • T2023 – Election of Non-Resident Corporation and a Canadian Creditor in respect of loans
  • T2047 – Agreement in Respect to Unpaid Amounts
  • T2061A – Election by an Emigrant to Report Deemed Dispositions of Taxable Canadian Property and Capital Gains and/or Losses Thereon
  • T2062 – Request by a Non-Resident of Canada for a Section 116 Certificate of Compliance Related to the Disposition of Taxable Canadian Property
  • T2209 – Federal Foreign Tax Credits
  • T4A-NR – Summary of Fees, Commissions, or Other Amounts Paid to Non-Residents for Services Rendered in Canada
  • T626 – Overseas Employment Tax Credit
  • 5013-R – Income Tax Benefit Return for Non-Residents and Deemed Residents of Canada
  • 5013-A – Schedule A – Statement of World Income – Non-Residents Canada
  • 5013-B – Schedule B – Allowable Amount of Non-Refundable Tax Credits – Non-Residents of Canada
  • 5013-C – Electing Under Section 217 of the Income Tax Act – Non-Residents of Canada
  • T2 – T2 Corporation Income Tax Return (Non-Resident)
  • T2SCH19 – Non – Resident Shareholder Information
  • T2SCH20 – Part XIV – Additional Tax on Non-Resident Corporations
  • T2SCH91 – Claims for Treaty-Based Exemptions
  • T2SCH97 – Additional Information on Non-Resident Corporations in Canada

For further information please call 416-628-7824 press 2 and speak with one of our tax advisors today. Non Resident Tax Advisor Downtown Toronto

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