Are you a non-resident home owner? Purchasing a home from a non-resident?
We are all well aware of how hot the real estate market is on the Sunshine Coast and Vancouver at the moment. There are many people taking advantage of this fact and selling their homes. However, if you are a non-resident who owns a home in Canada, or you are purchasing a home from a non-resident, there are important things you need to know! See the link below for more information:
Disposing of or acquiring certain Canadian property
If either of these scenarios apply to you, it is always best to contact a tax advisor to aid you in your transaction to ensure the necessary steps are taken to avoid any unpleasant surprises in the future.
If you own a small business, or if you are self-employed, it is likely that the topic of whether or not to incorporate has come to your attention.
Incorporation can be completed at either the provincial level or at the federal level. By deciding to incorporate, your business will become a separate legal entity and the liabilities of the company will become limited. Seeking legal advice before deciding to incorporate is also advisable, as each individual’s situation is unique. There are both advantages and disadvantages that should be considered in the decision of whether or not to incorporate.
Want to keep reading? Click the link below for more information on whether the decision to incorporate is right for you!