A practical example for small business owner saving taxes with income splitting
Mr Li runs a small unincorporated business in Ottawa, Ontario. His business net income is $88,888. His wife does not have a job and no any income. In 2013 income tax return, Mr Li pays $25,700 income taxes (including $4,712 in CPP contributions for self-employment).
If Mr Li paid a salary of $40,000 to his wife, his net business income would be reduced to $48,888. As a result, Li?s tax bill would be $12,204
If you are a Canadian resident, but living or working in US or have US rental property:
海外资产申报表 (T1135) 新添加的内容包括，海外资产所在的金融机构具体名称，或任何掌握资金的实体名称; 存放海外资产的国家名称; 以及海外资产所产生的具体收益。具体申报内容包括列出的六大类资产︰
违反规定，将面对哪些处罚
对有一年迟报，罚款是$25每天，最高到$2500; 对故意不报，罚款是$500每月，最高到$12000; 对税务局已经发出通知要求申报而故意不报，罚款是$1000每月，最高到$24000;
在加拿大，房屋出租的支出可以用来抵扣房租收入。 …在面对实际的税务问题时，最好向专业会计师咨询，再做决定。欲了解更多，请联 系 AccXpert TaxServices 安可托专业会计事务所 王兵注册税务会计师 – 专业会计及税务服务，可信，快速，低费用.
网址：www.accxpert.ca 邮件： TaxServices@AccXpert.ca 致电： 613-600-6988 微信： AccXpert-TaxServices
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Every year millions of Canadians pay more tax than they should. They either don’t file their returns to their family’s best advantage or they leave valuable credits and deductions on the table. Even worse, they don’t file at all and face unnecessary penalties.
Here are some ways to make sure the tax system works to your advantage:
1. File as a family. When it comes to getting the best return for your family unit, it is important to file all returns together. There are three simple steps:
• Prepare
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Having a residential rental property held by a corporation could prove advantageous in certain cases, specifically:
Transfer of personally-owned property
Moreover, you can transfer residential rental property that you currently own personally to a corporation without triggering any immediate tax impact using the tax rollover rules. At the time of the transfer, the corporation can issue a demand note to the former owner of the residential rental property equal to the cost paid by the owner for the
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