Posts Tagged ‘Income Tax Act’
S. 85 Rollovers under the Income Tax Act (Canada)
Section 85 of the Income Tax Act (Canada) (“ITA”) offers a valuable tax-planning tool for business owners, allowing them to transfer assets to a corporation without triggering immediate taxable gains.
Read MoreEmigrating from Canada: What You Need to Know
With increasing globalization, many Canadians are considering moving abroad not only for career and lifestyle opportunities but also for tax-related benefits. While changing residency can yield tax advantages, the process is complex, with significant tax implications and administrative requirements.
Read MoreS. 86 Share Exchanges under the Income Tax Act (Canada)
Section 86 of Canada’s Income Tax Act (ITA) provides an effective tax-planning tool for business owners seeking to exchange shares within a corporation without triggering immediate tax consequences. Known as a “section 86 share exchange,” this provision allows taxpayers to swap old shares for new shares in the same corporation.
Read MoreTaxation of Non-Residents in Canada
This article outlines the taxation rules for non-residents, with a special focus on the treatment of active business income.
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