Corporate Compliance - Duncan MacPherson

Corporate Compliance

U.S.

1. Obtaining EIN

2. Preparation of Forms 1120 and Form 1065

2.1. Maximizing Treaty Benefits

3. Recover “over-withholding”

4. Withholding Tax remittances

5. Assistance with the preparation of USA Form 5471/8868/8858

5.1. Coordinating the Canadian Capital Cost Allowance system with US ADS

5.2. GILTI tax minimization

5.3. Conversion of CAD$ financials to US$ – We have developed sophisticated templates for this.

5.4. 962 Election Planning

6. Partnership bookkeeping – Most Canadian CPA’s are completely unaware of the bookkeeping requirements of Partnerships.

We will assist you in maintaining proper Partnership books and records in Canada and the USA to ensure you have the necessary information to complete all US filings.

7. Form 706-NA United States Estate (and Generation-Skipping Transfer) Tax Return Estate of non-resident not a citizen of the United States: This form is quite common now, given all the Canadians who pass away owning US rental properties. Not including form 8833 is fatal here.

8. Creating tailored cross-border/international tax minimization strategies.

Canada

1. Obtaining Canadian Corporate number known as a “Business Number” (BN)

2. Registering for Corporate Income Tax

3. Registering for HST

4. Filing Sales tax returns HST/GST

5. Filing Canadian Corporate Tax Returns:

a. Treaty-Based Returns – when you are exempt from Tax in Canada via Treaty Relief

b. Filing annually when taxes are payable in Canada

c. Filing non-resident branch returns

6. CRA representation

7. Recover “over-withholding”

8. Maximizing Treaty Benefits

9. Withholding Tax remittances

10. Assistance with the preparation of USA Form 5471

11. Obtain Reg 105 Clearance for Treaty Exempt Activities in Canada to avoid unnecessary withholding taxes and/or recovery of the withholding.

12. For US Corporations owning Canadian Real Estate we will prepare the corporate return electing under ITA 216(1).

This has the same effect as the IRC 882(d) election in the USA. But this is a much more involved process in Canada than in the USA.

In Canada the process begins before the tax year begins; not at the end of the tax year as it does in the USA.

13. Creating tailored cross-border/international tax minimization strategies.

Our Services

Corporate Compliance

Personal Compliance

Corporate Tax Strategies

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