×

Loading...
Ad by
  • 予人玫瑰，手有余香：加拿大新天地工作移民诚聘求职顾问&行业导师！
Ad by
  • 予人玫瑰，手有余香：加拿大新天地工作移民诚聘求职顾问&行业导师！

@Manitoba

It depends if your parents are considered as resident of Canada or non-resident of Canada for tax purposes.

caohe(bunny)
本文发表在 rolia.net 枫下论坛1. In general if your parents live here in Canada most of the time and files Canadian tax return already, then it's simple, they just file tax return to report their global income including the rental income (with proper Form T776).

2. If your parents still live in China most of the time in their own home and just visiting you from time to time, they should be considered as non-resident of Canada for tax purposes. Even they may have residential ties in Canada, the tie breakers rules under the Canada-China tax treaty will likely treat them as resident of China. In this case it's more complicated so I strongly recommend you to consult with a tax professional. Here are my view: as non-resident of Canada earning rental income from a Canadian property, 25% of the gross rent should be withheld and submitted to CRA (see CRA link below). Your parents also have the option to make a tax election to be taxed on a net income basis, in this case 25% still need to be withheld and paid to CRA but your parents can file a tax return to calculate the net income and claim a refund from the CRA.更多精彩文章及讨论，请光临枫下论坛 rolia.net
(#10083709@0)
Last Updated: 2016-5-3
This post has been archived. It cannot be replied.
Report

Replies, comments and Discussions:

  • 枫下家园 / 钱财税务 / 以父母的名义买房，他们的移民还没有下来。如果房子出租，租金要怎么交税？ -fengxiamichao(fengxiamichao); 2016-5-2 (#10081312@0)
    • Since your parents have residential tires with Canada, -laurali2013(Laura); 2016-5-2 {258} (#10081348@0)
      they'd be considered Canadian Residents for tax purpose. Thus they need to pay tax as other Canadians. For special case, even they claim they're non-residents for tax purpose, the rental income is still the taxable income because it's Canadian source income.
      • oops... residential ties -laurali2013(Laura); 2016-5-2 (#10081349@0)
        • so their rental income will be counted as our income? -fengxiamichao(fengxiamichao); 2016-5-2 (#10081379@0) +1
      • 这回答，真理解不了。 -jameschen6(梦想农庄-神爱世人); 2016-5-4 (#10084132@0)
    • It depends if your parents are considered as resident of Canada or non-resident of Canada for tax purposes. -caohe(bunny); 2016-5-3 {1100} (#10083709@0)
      本文发表在 rolia.net 枫下论坛1. In general if your parents live here in Canada most of the time and files Canadian tax return already, then it's simple, they just file tax return to report their global income including the rental income (with proper Form T776).

      2. If your parents still live in China most of the time in their own home and just visiting you from time to time, they should be considered as non-resident of Canada for tax purposes. Even they may have residential ties in Canada, the tie breakers rules under the Canada-China tax treaty will likely treat them as resident of China. In this case it's more complicated so I strongly recommend you to consult with a tax professional. Here are my view: as non-resident of Canada earning rental income from a Canadian property, 25% of the gross rent should be withheld and submitted to CRA (see CRA link below). Your parents also have the option to make a tax election to be taxed on a net income basis, in this case 25% still need to be withheld and paid to CRA but your parents can file a tax return to calculate the net income and claim a refund from the CRA.更多精彩文章及讨论，请光临枫下论坛 rolia.net

More Topics

  • Inflation rate drops to 1.6% in September
  • 看到群里的大佬都挣25-30+万一年，如果赚那么多钱，如果有份10万的T4工作，还要不要做？
  • 30岁以下年轻人买保险，
  • 请教个报税问题，如果几年前买的 shares 当时的 Cost 超过了10万加币，但是去年一年内价值都低于10万加币，那还需要填写 Foreign Property T1135 Form for 2023 吗？谢谢。
  • 刚看到有人要给孩子买term人寿保险，还振振有词地说人寿保险是标配。给孩子买保险，应该对保险有误解。其实保险的精髓就是四个字 - 补偿损失，具体说，人寿保险的目的是补偿死亡带来的财务损失，
    • 枫下论坛主坛 /  枫下家园 /  钱财税务