Information About Rosen Kirshen Tax Law Blog
Below is a preview of the five most recent posts from the blog Rosen Kirshen Tax Law Blog. To read these posts in their entirely or subscribe to future updates from this blog, please visit their website!
- Participating Debt Interest
Participating debt interest and regular interest are treated differently by the Income Tax Act here in Canada. Whether interest is considered to be participating or regular depends on whether certain factors are present in the the repayment of such debt. For example, if money was loaned to someone s … Read more »
- Non-Residents of Canada owning Canadian Rental Property
The idea of owning property and generating a rental income is very appealing to most people. This is especially true in major cities across Canada like Toronto and Montreal, where rentals rates are high. As a result, many non-residents look at Canada as a prime place to buy property and generate ren … Read more »
- Offshore Corporations and the Voluntary Disclosures Program
With increasing globalization, it is common for many Canadian residents to be involved with business corporations and companies, both small and large, located outside Canada. If you are a Canadian taxpayer who is involved with a foreign corporation, the Canadian Income Tax Act may require you to fil … Read more »
- Claiming CERB but not Eligible?
The Canadian Emergency Response Benefit (CERB) has injected billions of dollars into the pockets of millions of Canadians, to help the country endure the COVID-19 pandemic. In a previous article, we discussed how to determine if you are actually eligible for CERB, and the consequences for those whom … Read more »
- What if I use an RRSP as Security for a Loan?
A Registered Retirement Savings Plan is used to defer taxes on income earned to a later date. The idea behind an RRSP is that while you’re working, you are in a higher tax bracket than you will be later in life. So when you withdraw the funds down the road, it will be taxed at a lower rate. RRSPs ar … Read more »