Instalments are periodic payments of income tax that individuals are required to pay to the Canada Revenue Agency (CRA) to cover tax they would otherwise have to pay on April 30.
Instalments
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Month: May 2013
Notice of assessment
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Notice of assessment is a form that the Canada Revenue Agency (CRA) sends to taxpayers and GST/HST registrants after the CRA processes their returns.
GST/HST voluntary registration
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If you are a small supplier, you are not required to charge your customers GST/HST and you cannot claim ITCs. However, you can choose to register voluntarily.
How does the GST/HST work?
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After you register GST/HST account and become a GST/HST registrant, you generally have to charge and collect the GST/HST on taxable supplies (other than zero-rated supplies) you make in Canada and file regular GST/HST returns to report that tax.
What is the difference between zero-rated and exempt goods and services
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If you are a consumer, there is no difference between zero-rated and exempt goods and services because no GST/HST is collected in either case.
How to calculate Capital Cost Allowance (CCA) – an example – part two
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This is part two of the example about how to calculate Capital Cost Allowance (CCA).
Undepreciated Capital Cost (UCC)
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Undepreciated capital cost (UCC) of a class refers to the balance of the class at any time.
A list of exempt supplies
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Some supplies are exempt from the GST/HST, that is, no GST/HST applies to them. The following are examples of exempt supplies:
What is Form NR6
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If you are a non-resident and receive rental income from real property in Canada, a non-resident tax at the rate of 25% of gross income has to be withheld and remitted to the Canada Revenue Agency (CRA). However, you can choose to have tax withheld on your net rental income instead of on the gross amount…
Non-resident tax on rental income
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If you are a non-resident and receive rental income from real property in Canada, a non-resident tax at rate of 25% on the gross rental income has to be withheld and remitted to the Canada Revenue Agency (CRA).