Income Taxes
Under the
Canadian tax system, the Federal, Provincial, and Territorial
governments levy income taxes on:
-
Individuals
and corporations
-
Estates and trusts
-
Beneficiaries of an estate or
trust
-
Owner of a proprietorship
-
Partners of a partnership
-
Members of a joint venture
-
Certain other entities (eg.
cooperatives)
Four key factors determine whether you
or an entity must pay Canadian income taxes and/or file Canadian tax
returns:
-
Residency
-
Having a permanent establishment
in Canada
-
Earning income from a Canadian
source, and
-
Foreign tax treaties with Canada
Unlike other countries, citizenship is
not a factor. But, citizenship may be used in determining residency
issues.
If you need advice or help
regarding your Canadian income taxes, or you need a tax professional
to prepare your income tax returns, please consider my firm and
contact us.
