Blog
Toronto, Ontario
Own a Canadian Rental Property While Living Abroad? Understanding NR6 and Section 216 Returns
If you live outside Canada and own a Canadian rental property, an NR6 application may allow you to reduce the amount of tax withheld from your rent during the year. For many non-resident landlords, filing an NR6 makes sense. However, it is optional and comes with filing obligations that should…
What Happens to Your RRSP When You Leave Canada?
One of the most common questions we receive from emigrants is what happens to their RRSP after leaving Canada. Moving abroad does not mean you need to collapse your registered retirement savings plan (RRSP). In fact, many Canadians who emigrate keep their RRSPs in place for decades after leaving the…
How to Switch Accountants for Your Corporation in Canada
Changing accountants can feel like a bigger job than staying with one who is no longer a good fit. Your current accountant may know the history of your corporation and have access to its records. You may be unsure where to start without disrupting the business. The transition can take…
Managing Taxes in Retirement for Canadian Retirees
Retirement is often framed as the finish line, but financially, it is anything but. It is a stage where the decisions you make about income, withdrawals, and taxes can have a greater impact on your wealth and estate than the saving and investment choices you made along the way. During…
Proactive Accounting and Tax Planning for Owner-Managers: Strategies to Maximize Growth and Retirement Wealth
Proactive Accounting: The Key to Business and Personal Wealth For self-employed owner-managers, accounting is far more than a compliance requirement. It is a strategic advantage. Accurate, timely financial records provide a roadmap for both business growth and personal wealth creation. When combined with proactive tax planning and integrated financial strategies,…
When Should You Set Up A Holding Company?
Business owners, landlords, and investors often consider various structures to optimize their financial and tax situation. One popular strategy is the establishment of a holding company or holdco. Understanding Holding Companies A holding company is a type of business entity that primarily exists to own stocks, real estate, interests in…