COMMERCE 4SD3 Lecture Notes - Lecture 11: Withholding Tax, Property Income, Dividend Tax
Document Summary
Chapter 9 miscellaneous inclusions into income, deductions, etc. in calculating division b (net income for tax) If you pay it, you get a deduction (if it meets criteria: ex. periodic payment, court order, written agreement, etc, rrsp (deduction, rrif & annuities, payouts are included in income, childcare, moving expenses. If you pay childcare, a calculation to figure out deduction amount: moving expenses, if the move qualifies you can write it off, wsib (cid:894)(cid:449)o(cid:396)ke(cid:396)"s (cid:272)o(cid:373)pe(cid:374)satio(cid:374)(cid:895, cpp, etc. I(cid:374)(cid:272)o(cid:373)e ta(cid:454)es is(cid:374)"t used in the question calculations benefit that needs to be added into her income calculations: he has(cid:374)"t e(cid:454)e(cid:396)(cid:272)ised a(cid:374)(cid:455) sto(cid:272)k optio(cid:374)s, so the(cid:396)e is (cid:374)o ta(cid:454)a(cid:271)le i(cid:374)(cid:272)lusio(cid:374) If a foreign entity pays you property income, the general rule is the foreign company will levy a withholding tax: whe(cid:374) it"s a pu(cid:271)li(cid:272) (cid:272)o(cid:373)pa(cid:374)(cid:455), (cid:455)ou ha(cid:448)e to g(cid:396)oss up @ (cid:1007)(cid:1012)% (cid:894)g(cid:396)oss up is (cid:1009)(cid:1004)(cid:1004)(cid:895)
