Key tax issues for foreign investments

CRA requires to complete and file this T1135 – Foreign Income Verification Statement if at any time in the year the total cost amount to the reporting taxpayer of all specified foreign property was more than $100,000 (Canadian dollars). Registered accounts such as RRSP and TFSA are exempted. What about non-registered account or so-called marginContinue reading “Key tax issues for foreign investments”

How to reduce withholding tax by your employer?

First, you can submit the form T1213 called Request to Reduce Tax Deductions at Source to CRA. One common justification to reduce tax is RRSP contribution. Many people wait for the tax refund and feel very happy about it. However, the government hold the refund for a year and don’t pay you any interest. Instead,Continue reading “How to reduce withholding tax by your employer?”