goldkeybiz

In the first year of 2022, a federal declaration of the house needs to be submitted, commonly known as the vacancy tax.

For non- permanent residents or citizens of Canada who hold real estate on December 31, 2022, the declaration due date is the end of October 2023.

Those who hold real estate on December 31, 2023 who are not permanent residents or citizens of Canada , regardless of whether it is vacant or not, need to declare it! ! There is a fine of CAD 5,000 for failure to declare property under one’s name.

If your status is a work permit or study permit on December 31, 2022, you still need to declare it regardless of whether your house is vacant or not!

If you do not have a Canadian income tax ID number yet, please hurry up and apply early (application time is 2-4 weeks).

The required documents are form T1261 + a clear scan of the first page of the passport + current residential address + current contact number! ! !

This declaration is based on each person, so the quotation is based on each owner. If your property has two owners, two orders will need to be added.

***Please note: Guests without an ITN tax number must use REGISTERED MAIL to complete the declaration.

If you have urgent needs, you have these two options: (including Canada Post fee and insurance)

2 working days delivery (+$250CAD)

3 working days delivery (+$100CAD)

After placing the order, please contact the web customer service through INBOX and pay the expedited fee

Rent company/commercial email address

• Receive 30 emails per month

• Provide company registration address, which can be used by governments and banks

Ontario registered company Price details:

Government Fees: $350 (includes government fees and electronic filing fee)
CRA Business Number (BN): $50 (required)
Corporate income tax account setup: Free (required)
Service Fee: $49 (including standard documents and certificate)

Rent a personal address

• Receive 15 emails per month

• Open and scan

• Recycling and destruction

• Local pickup

• You can add a spouse to share the address

$299.00 is the base registration fee, other services you choosewill be added to the total price

Basic registration fee details:

• Government fee: $200 (including government fee and electronic application fee)
• CRA Business Number (BN): $50 (required)
• Corporate income tax account setting: Free (required)
• Service fee: $49 (including standard documents and certificates)

If you needsalary calculation service,please click the link to purchase the service:salary calculation service

If you needZero tax return for limited liability company,Please click the link to purchase the service:Zero tax return

We can provide rental property prepayment services for non-tax residents, helping you to safely and accurately pay applicable taxes and ensure your tax compliance. Based on the information of each property, we calculate the prepayment tax based on the monthly fixed rental income to ensure the safety of the transaction and reduce your institutional risks.

Note: Each order is for a single property. If there are multiple properties, please place a new order. Please place the order based on the known rental information to avoid forgetting to prepay taxes or incurring fines.

What is an ITN?

ITN is a tax number similar to SIN (social insurance number) for tax reporting purposes. ITN is generally issued to people who are not eligible to apply for SIN.

For non-Canadian residents who need to file Canadian taxes or have real estate investments in Canada, we strongly recommend that they apply for a Canadian Tax Number (ITN) as early as possible in order to avoid late filing penalties or late filing penalties when filing Canadian taxes. When selling an investment property, the transaction is delayed because you don’t have a Canadian tax return number. Especially for the recent new policy UHT declaration, the first requirement is to have an ITN or SIN number.

Add to cart and pay. You will receive our information collection form. Upload the required documents and wait for signature and submission.

The following information is roughly required,

Current residential address (including zip code) + current contact number + clear scan of the first page of the passport

After receiving the application, the Canada Revenue Agency will generally inform the applicant of the individual tax return number (ITN) in a letter in about 3-4 weeks. However, overseas applicants will take longer to be notified, generally around four to six weeks. The filing due date for UHT is the end of April. Please prepare early.

A non-profit organization is a legal entity that has an independent existence and is independent of its members. It is a non-profit corporation created to create charitable, religious, educational, sports or patriotic goals.

Non-profit organizations are a type of limited company. The main difference from commercial companies is that non-profit organizations cannot issue shares for dividends like commercial companies, and cannot operate with the income of members, directors, and managers as their operating objectives. , any financial proceeds must continue to be used for activities consistent with the founding purposes of the organization.

Nonprofit organization registration package

Agent application fee: $99

Government management fee and registration fee: $220

Non-Profit Articles Prepared by Attorney: $150

Ontario Trade Name/Master business license

Master business License is often used for personal business names or corporate business names. Most of them are suitable for shops, online stores and a company operating in multiple industries. After obtaining the MBL, it is recommended that the holder update the information with the bank and tax bureau. Please fill in your accurate information in the subsequent form according to the actual situation.

This website will guide you step by step in filling out the form. Once you fill it out and pay, it will be reviewed and registered with the government. We can register/renew your business as soon as possible, within 2 business hours.

This license is valid for 5 years, please pay attention to update it.

If you need to change the registered address or add an executive officer, please click the link to purchase the service : Information change

Click on the link Federal Corporation for more information.

(The company must update information within 15 days, including changes to director details. A company key is required and unauthorized persons should contact the company or Corporations Canada for help updating information.)

We have streamlined and streamlined the production and submission of Canadian federal annual reports to ensure compliance with Canadian regulatory requirements. Whether you're a small business owner, entrepreneur, or corporate executive, our platform is designed to make your reporting process efficient and worry-free.

If you are a non-tax resident, or part of the property rights of your house is held by a non-tax resident, then the proportion of the non-tax resident property rights in the rental income needs to be reported as a non-tax resident.

The information you need to provide is as follows (because Canadian tax returns are based on individuals, if multiple people share one or more properties, you can add a separate order to the shopping cart and check out together):

• Copy of passport (for applying for tax number)
• House purchase contract
• House handover lawyer documents (for expense deduction)
• House rental contract
• Bank account information (used to set up pre-authorization so that the tax bureau can withhold prepaid taxes directly from your account)

If your situation is more complicated, you can contact us via emailinfo@goldkeybiz.com or WeChat goldkeybiz.

Due to UHT (underused housing tax) declaration, there are currently many customers who need to make supplementary declarations, so it is recommended to process them as early as possible. You can also email us to request UHT electronic filing tutorials and links. Hope this helps everyone.

If you want to know more about non-resident Canadian real estate tax returns, click the link below to watch the video explanation.

➤Non-resident Canadian real estate tax filing

BC company registrationPrice details:

Government Fee: $375 (includes government fee and electronic filing fee)
CRA Business Number (BN): $25 (required)
Corporate income tax account setting: $25 (required)
Service fee: $138 (including preparation Standard signature documents and certificates required by governments)

Due to policy changes, the Canadian government has stricter requirements and regulations for account holders. If you are not a Canadian citizen or a valid permanent resident card holder, you need to register through Non-Resident Corporate Tax ID Registration. We will send you instructions after you place an order.

The CRA has waived annual returns that were due between May 15, 2021, and October 18, 2021, meaning these companies do not have to file their 2021 annual returns.

Annual returns must be filed for annual returns due after October 18, 2021. It is no longer possible to file an annual return together with the T2.

Please note that this is not an initial return, nor is it an income tax return. This is an annual administrative inspection.

Alberta Company Registration Price Details:

Government fee: $450 (including government fee and electronic filing fee)

Service fee: $69 (including standard documents and certificates)

Business Number Registry fee: $26 (including standard documents)

Alberta does not require legal persons to be Canadian permanent residents or Canadian citizens. But you must have an Alberta address.

The annual fee is $100. Please add the quantity of products according to your needs.

Definition of zero tax return

No any In order to maintain tax integrity, you need to declare a zero income tax return to the Canada Revenue Agency for your income and any expenses.

If you have a GST/HST account or a Payroll account, you also need to file zero tax returns on a regular basis (if you have no income and no expenses).

Note: Tax filing service for limited liability companies with zero income and zero expenses and no business activities.

All residential property owners within Toronto will be required to submit a statement regarding the use of their property during the previous year. Declare the usage status of the property in 2022. Is it rented? Living on your own? Is it still empty? Filing for 2022 is from mid-December to February 2, 2023. The online declaration portal will open in mid-December 2022.

If you need tutorials, please click here to fill in the form subscribe.

Will this policy affect the real estate you hold? How do you know whether your house needs to be declared separately to the government?

You can check your local tax bill. If you are from Toronto, please pay attention to the time to declare. Mandatory reporting of usage status. All residential property owners in Toronto will be required to declare the status of their properties annually. The declaration must be made by the homeowner or someone on behalf of the homeowner. Filing will determine whether the vacant properties tax is applicable and payable.

A principal residence can be vacant for up to six months throughout the tax year without paying tax.

How to calculate it?

A vacant residence tax of 1% of the current value assessment (CVA) will be imposed on all Toronto residences that have been declared, deemed or determined to be vacant for more than six months in the previous year.

For example, if your property’s CVA is $1 million, the tax billed would be $10,000 (1% x $1,000,000).

Taxes are based on the property's status during the previous year. For example, if the home is vacant in 2022, taxes will begin to be paid in 2023.

How to declare?

You will need your 21-digit assessment roll number and the customer number from your tax bill or property tax account statement.

Usage declarations should be made through the City’s secure online declaration portal, which will open in mid-December 2022. If needed, homeowners can obtain a paper declaration form by contacting 311. Paper forms must be completed in full and received by the City of Toronto by the deadline to avoid being fined and having the property considered vacant. Incomplete forms will not be accepted. Please note Canada Post delivery times.

What will happen if you don’t declare?

If the owner fails to file an annual return and/or provide supporting documentation by the deadline, the residential property will be considered vacant.

If the statement you submitted contains an error, you can:

• Submit a new return before the February 2 filing deadline;

• If it is after the filing deadline, submit a notice of complaint;

• Failure to file or making a false declaration may result in fines ranging from CAD$250 to CAD$10,000.

Tax clearance process (the process you may want to know)

• If you do not have a Canadian income tax account number, please click the link to apply: Tax ID Registration
• We organize the information, rental declaration, tax number sorting, etc., and submit the queue
• Waiting for the person in charge of the tax bureau to process, the tax bureau will reply how much prepayment tax (letter) needs to be paid ( This process takes the longest, estimated to be 6 months). During the waiting period, there will be no delay in handing over the property. .
• You need to send the letter to your lawyer, and the lawyer will help you pay
• We will help you send a copy of the payment check to the person in charge of the tax bureau to speed up the reconciliation (This process takes 1 month)
• The tax bureau will issue a tax clearance certificate after confirming receipt of payment
• Only after obtaining the tax clearance certificate can the lawyer return all the deposit to you
• The next step is to refund the overpaid VAT deposit - see VAT refund for details

If you want to know more about Canadian real estate tax declaration for non-residents, click the link below to watch the video explanation.

➤Non-resident Canadian Property Tax Return

Tax status determination is a service that helps you figure out your tax status.
The process is simple: just send us some basic information about your situation and we'll take care of the rest. In most cases, we can get a response from the CRA within 6-12 weeks.

Once we get the CRA determination letter, we will send it to you along with an explanation of what it means and how it will affect your taxes. Armed with this information, you can rest assured that you're prepared for tax season.

Tax residents include but are not limited to
(1) Canadian citizens
(2) Those who have lived there for 183 days in the year New immigrants
(3) International students who have lived for 183 days in the current year
(4) Foreigners with visitor visas who have income in Canada
(5) Canadian tax residents who are studying abroad (such as the United States) and have scholarships or income
(6) Overseas workers with Canadian status, spouses, Minor children or dependents living in Canada
(7) Canadian government personnel stationed abroad