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This treaty also affects their spouses, children, or anyone with whom they own property, share a business connection, or hold a joint financial account. The agreement exempts Tax-Free Savings Accounts, Registered Disability Savings Plans and Registered Education Savings Plans. [3] Canadian banks say they expect compliance costs to be "enormous ...
An individual can also be deemed tax-resident if they acquire an abode in Germany. This can include renting, as opposed to purchasing, a property but only if the duration of the lease is deemed to be more than temporary. For this reason, to avoid German tax residency, short-term (such as three months) should be taken out wherever possible.
Foreign permanent residents or status Indians over the age of 18 may become Canadian citizens by grant after residing in Canada for more than three years. [77] [78] Candidates must be physically present in the country for at least 1,095 days during the five-year period immediately preceding their applications. [77]
Corporations not resident in Canada are subject to Canadian tax on certain types of Canadian source income (Section 115 of the Canadian Income Tax Act). Effective January 1, 2012, the net federal corporate income tax rate in Canada was 15%, or 11% for corporations able to claim the small business deduction; in addition, corporations are subject ...
Canadian law requires that all people entering Canada must carry proof of both citizenship and identity. [1] A valid U.S. passport [1] or passport card [1] is preferred, although a birth certificate, naturalization certificate, citizenship certificate, or another document proving U.S. nationality, together with a government-issued photo ID (such as a driver's license) are acceptable to ...
Canadian regulations are enacted by the Parliament of Canada and are carried out as provided by the law. Regulations are generally sets of rules but have the weight of the rule of law, they can be more detailed such as "include definitions, licensing requirements, performance specifications, exemptions, forms, etc."
The Parliament of Canada entered the field with the passage of the Business Profits War Tax Act, 1916 [17] (essentially a tax on larger businesses, chargeable on any accounting periods ending after 1914 and before 1918). [18] It was replaced in 1917 by the Income War Tax Act, 1917 [19] (covering personal and corporate income earned from 1917 ...
The Domicile and Matrimonial Proceedings Act 1973 [74] abolished the rule that a married woman had the domicile of her husband (with transitional rules for those married before 1 January 1974), as well as reforming the rules dealing with the domicile of minors. Scotland. The rules for domicile of persons under 16 for the particular purposes of ...