To understand how this could happen, we need to look at Part XIII of the Income Tax Act, which concerns tax on Canadian income of non-residents.

THE LAW

Generally, non-residents are required to pay an income tax of 25% on any of a range of payments they receive from Canadian residents, including rent. This is an obligation on the landlord.

The issue for the tenant comes from the withholding and remittance provisions of the Act. To facilitate collection of the tax from persons who may be overseas and difficult to reach, s 215 requires the person paying the amount on which income tax is payable to withhold the amount of the tax and remit it to CRA on behalf of the non-resident person. In other words, the Act puts responsibility for paying the recipient’s tax on both the recipient and the person paying (in a tenancy, the tenant). S 215(6) makes the person paying liable to pay on behalf of the non-resident person the whole of the amount that should have been withheld.

Unfortunately, many people are unaware of this shared obligation and consequent liability.

… Read the full article here: 2024 Decision Brings New Perils for Tenants: Beware the Non-Resident Landlord

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In British Columbia, Canada, there are specific rules you need to adhere to when naming a business. Understanding the naming rules is essential to ensuring compliance and to avoiding potential delays or complications in the name registration process. The rules include, but are not limited to:

UNIQUENESS

The business name must be unique and distinct from existing business entities. This requirement helps prevent confusion amongst consumers and ensures that each corporation maintains its individual identity. Before settling on a name, it is advisable to conduct a thorough search of the Provincial and Federal corporate registries (as applicable), and of the Canadian Trademarks Database, to confirm the name availability and uniqueness compared to other corporations.

DESCRIPTIVE ELEMENTS

Using descriptive terms that accurately reflect the nature of your business, and that are not misleading, are permitted. The more distinctive the name, the more likely it is to be accepted.

… Read the full article here: Naming Your Corporation in British Columbia in 2024

The post Naming Your Corporation in British Columbia in 2024 appeared first on Victoria Lawyers.

Where a power of attorney is useful

• Financial institutions will not deal with anyone but the account holder or a properly authorized attorney (and even with a Power of Attorney it is sometimes difficult).
• Land title documents (property purchases, sales, and mortgage renewals) must be signed by the registered owners or a person properly authorized to sign on their behalf.
• CRA requires proper authorization from a taxpayer in order to provide information or to allow someone else to act on a taxpayer’s behalf in dealing with the CRA.

Making or changing a will by an attorney using a Power of Attorney is specifically prohibited.

Learn more about Powers of Attorney

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