June 30 Tax Deadline is Looming for Non-Residents

An important deadline is approaching for non-residents with certain Canadian-source income. June 30 is the deadline to file elected returns under Section 216 (pertaining to rental income) and Section 217 (pertaining to Canadian source pension income). There may be significant consequences for missing this deadline as returns received after this date, generally aren’t accepted. Here’s what you need to know:

In Canada’s 150th year, Knowledge Bureau is pleased to put the spotlight on Canadian Financial Authors and celebrate Financial Advice at the Crossroads of Change at DAC Nov 5-8 in Kelowna.  This week:  Kimberly McLarty discusses: Re-Evaluating Business Resources: A Group Insurance Specialist May Be of Help.

How’s your luck? Try it out and get in on a chance to win a free registration to the Distinguished Advisor Conference (DAC) in the spectacular wine country of BC. Come to Kelowna and think more clearly about this year’s theme: Financial Advice at the Crossroads of Change. Here’s April’s question:

Filing tax returns for unincorporated small businesses is in growing demand. Whether retirees are going back to market as consultants or Millennials are choosing to be their own boss, demographic changes are increasingly pointing to a shift from full-time employment to self-employment as a way to leverage time and money. For advisors, learning tax preparation for proprietors is a worthwhile investment.

My knowledge and comfort level have grown:  Denis Marcon, Master Financial Advisor™, Manitoba

“If opportunity doesn't knock, build a door.” Milton Berle

A new non-refundable credit is available on the 2016 tax return, which will help families who needed to spend money to make a home accessible to a disabled person.  It’s one of those credits for which you have to dig out receipts, however, but it’s worth up to $1500, and more if you double dip – which is possible and legal!