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Goodwill can be “eligible capital property” under the Income Tax Act, explains Greer Jacks in this second of two parts on goodwill.
Yes. The government imposes income taxes on non-residents who earn income in Canada and/or dispose of Canadian property.
Understanding the concept of “goodwill” will work to your advantage, as Greer Jacks explains in this first of a two-part series.
In some countries, such as the United States, taxation is based on citizenship. In Canada, however, the government levies income taxes based on residency.