CRA will find out when they audit the restaurant.
https://www.canada.ca/en/revenue-agency/campaigns/track-report-tips-gratuities/tips-gratuities-taxable.html
Are you aware that all your tips and gratuities are taxable?
PDF version PDF version
Restaurant and bar servers, hairdressers, valets, taxi drivers and others who earn tips need to be sure those amounts are included as income when they file their income tax and benefit returns.
If you receive tips or gratuities as part of the type of work you do, this information is for you.
Keep track of all your tips and gratuities received throughout the year (for example, on a calendar, a mobile app or in an agenda)
Calculate the total received between January 1 and December 31
Report the total amount received on line 10400 of your income tax and benefit return
In Canada, the law is clear about the treatment of income received from tips and gratuities: all tips and gratuities are taxable, and it is your responsibility to track and report any amounts received.
How to report your tips
Enter the total amount of tips you received during the year on line 10400 of your income tax and benefit return. If you are an employee, tip income might already be included on your T4 slip. If you’re not sure, ask your employer.
If you report all your tips and gratuities, you will see the following benefits
The additional income you report can be an advantage to you when applying for a loan or mortgage
Tips qualify as earned income for purposes of registered retirement savings plan (RRSP) contribution limits–you will be able to invest more, and deduct more, in RRSPs
You can choose to pay Canada Pension Plan (CPP) or Quebec Pension Plan (QPP) contributions, which will increase your CPP or QPP pension amounts when you retire
https://www.ctvnews.ca/canada/tax-crackdown-finds-many-servers-not-declaring-tips-1.870411
OTTAWA - A blitz by Canada Revenue Agency auditors on an unfortunate group of waiters and waitresses in one Ontario community has exposed "very surprising" amounts of unreported tips and gratuities.
The pilot project targeted 145 servers working in just four restaurants in St. Catharines, Ont., a blue-collar city on the Niagara Peninsula, south of Toronto.
Auditors reviewed two years' worth of income and found that every individual had hidden some portion of their tips from the taxman, with about half reporting no tips whatsoever.
Related Stories
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In the end, the blitz flushed out $1.7 million in unreported tips and gratuities -- almost $12,000 for each person.
"Industry insiders often tell servers that they only need to report 10 per cent of their ... wages as tip income," says an internal report on the project.
"Our results indicate that tips are more likely to be 100 per cent to 200
加拿大報稅 你問我試答
唱紅打黑
1001 回覆
44 Like
7 Dislike
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第一次報稅真係俾少少錢人地攪好過，一個唔小心報錯左就麻煩
1. 唔洗報唔洗taxable, 因為source from hong kong before you become Canada tax resident
2.yes,當你多25萬人工咁計tax rate
3.應該唔洗
2.yes,當你多25萬人工咁計tax rate
3.應該唔洗
第一次報稅真係俾少少錢人地攪好過，一個唔小心報錯左就麻煩
無錯，但一定唔係樓主，佢只係香港牌cup楓業牌的A貨，過去做數可以，做tax死梗
tips will add to your total income and tax at the your marginal rate.
"啲人話tips唔係抽好多稅"? not true la
"啲人話tips唔係抽好多稅"? not true la
1. 1-8 月與加拿大無關
3. 加拿大無遺產稅
加拿大當地遺產如果係經法庭轉名（例如物業）要收 probate fee ， 變相遺產稅， Ontario 收 1.5%
香港物業唔駛喺加拿大做probate
3. 加拿大無遺產稅
加拿大當地遺產如果係經法庭轉名（例如物業）要收 probate fee ， 變相遺產稅， Ontario 收 1.5%
香港物業唔駛喺加拿大做probate
如果我跟足tax law,嚴打就告得我入？
上年9月先到
最易 ，但稅唔係大曬，投資回報都緊要,要自己balance
hk employment 應該要交香港稅的
Make an appointment to see a tax accountant.
Did you file any tax returns in the year you left Canada?
Do you have any capital property in Canada than generated income or rental income?
A tax resident have to report world-wide income.
If for some reasons you are deemed a non-resident of Canada (highly unlikely) then your TFSA is subject to 1% tax each Month since you have it.
https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/tax-free-savings-account/who-open-a-tfsa.html
Any individual that is a non-resident of Canada who has a valid SIN and who is 18 years of age or older is also eligible to open a TFSA. However, any contributions made while a non-resident will be subject to a 1% tax for each month the contribution stays in the account.
You owe Taxes to CRA no matter what.
Did you file any tax returns in the year you left Canada?
Do you have any capital property in Canada than generated income or rental income?
A tax resident have to report world-wide income.
If for some reasons you are deemed a non-resident of Canada (highly unlikely) then your TFSA is subject to 1% tax each Month since you have it.
https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/tax-free-savings-account/who-open-a-tfsa.html
Any individual that is a non-resident of Canada who has a valid SIN and who is 18 years of age or older is also eligible to open a TFSA. However, any contributions made while a non-resident will be subject to a 1% tax for each month the contribution stays in the account.
You owe Taxes to CRA no matter what.
1. 月結單or online banking
2.大學website login 完應該有receipts
3. 你搵下enail有無機票酒店 details
2.大學website login 完應該有receipts
3. 你搵下enail有無機票酒店 details
唔係。
簡單講你要報所以taxable 既收入
簡單講你要報所以taxable 既收入
4. 用 simplified method 報 無需receipt 但要有其他證據,例如搬屋前後嘅不同地址證明（萬一稅局audit）
https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-21900-moving-expenses.html
https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-21900-moving-expenses.html
有無屋？有無老婆仔女係加拿大？
係加拿大有無收入？
唔會唔返黎？
係加拿大有無收入？
唔會唔返黎？
https://koinly.io/guides/crypto-tax-canada/
Is cryptocurrency taxable in Canada?
Yes. You'll pay tax on your cryptocurrency profits in Canada.
Cryptocurrency isn't seen like a fiat currency in Canada. Instead, it's viewed as a commodity, which is a capital property - like a stock or a rental property.
Why do you need to know if it's classed as a capital asset from a tax perspective? Because this explains how cryptocurrency is taxed in Canada.
Can the CRA track crypto?
Yes. The Canada Revenue Agency can track your crypto investments. The CRA announced they're working with crypto exchanges to share customer information. They're using this information to track Canadian crypto investors to ensure they're reporting their crypto investments accurately and paying their fair share of crypto tax.
As of January 1 2022, all money services businesses in Canada have to notify the CRA of transactions greater than $10,000. So if you send $10,000 to a crypto exchange, it will be reported to the CRA.
The CRA is also registered with FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) which regulates financial institutions and investigates money laundering and tax evasion. Reported trades are not necessarily restricted to those above $10,000. If a crypto exchange is registered with FINTRAC in Canada, they are required to obtain a copy of your government-issued ID and proof of address. Your ID is therefore linked to your account and wallet addresses on the exchange.
The CRA hasn't stated precisely which crypto exchanges they're working with other than Coinsquare. This doesn't mean Coinsquare is the only crypto exchange sharing information with the CRA by any means. In fact, the vast majority of large crypto exchanges operating in Canada like Coinbase, CoinSmart, Crypto.com and others are likely to have had the same data request from the CRA.
The CRA is also registered with FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) which regulates financial institutions and investigates money laundering and tax evasion.
The best way to remain tax compliant is to report your crypto taxes accurately. Let's learn how.
How is crypto taxed in Canada?
Cryptocurrency is viewed as a commodity by the CRA. This means it's either subject to Income Tax or Capital Gains Tax.
If your crypto is taxed as income - you'll pay Income Tax on the entire proceeds of a crypto transaction. If your crypto is taxed as a capital gain, you'll only pay Capital Gains Tax on half of any profits of a crypto transaction.
So how do you know whether your crypto will be taxed as income or a capital gain? It all comes down to whether your investment is seen as business income or a capital gain. Let's break it down.
Business Income or Capital Gain
The CRA states that they decide on whether you have business income or capital gains on a case by case basis. They also state that an individual transaction may be considered business income, while other transactions by the same investor may be considered a capital gain. All this to say, it's not too clear what precisely the CRA consider business income.
They do have some guidance on this. The CRA states the following are common signs that you may have business income:
You conduct crypto activity for commercial reasons.
You promote a product or service.
You show that you intend to make a profit.
Your crypto activities are regular or repetitive.
With the above in mind - many Canadian crypto investors could be considered to be making business income as opposed to a capital gain. Their own example of business income is of a crypto investor who buys and sells crypto on a regular basis and makes a profit of $40,000 through active trading of cryptocurrency.
Is cryptocurrency taxable in Canada?
Yes. You'll pay tax on your cryptocurrency profits in Canada.
Cryptocurrency isn't seen like a fiat currency in Canada. Instead, it's viewed as a commodity, which is a capital property - like a stock or a rental property.
Why do you need to know if it's classed as a capital asset from a tax perspective? Because this explains how cryptocurrency is taxed in Canada.
Can the CRA track crypto?
Yes. The Canada Revenue Agency can track your crypto investments. The CRA announced they're working with crypto exchanges to share customer information. They're using this information to track Canadian crypto investors to ensure they're reporting their crypto investments accurately and paying their fair share of crypto tax.
As of January 1 2022, all money services businesses in Canada have to notify the CRA of transactions greater than $10,000. So if you send $10,000 to a crypto exchange, it will be reported to the CRA.
The CRA is also registered with FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) which regulates financial institutions and investigates money laundering and tax evasion. Reported trades are not necessarily restricted to those above $10,000. If a crypto exchange is registered with FINTRAC in Canada, they are required to obtain a copy of your government-issued ID and proof of address. Your ID is therefore linked to your account and wallet addresses on the exchange.
The CRA hasn't stated precisely which crypto exchanges they're working with other than Coinsquare. This doesn't mean Coinsquare is the only crypto exchange sharing information with the CRA by any means. In fact, the vast majority of large crypto exchanges operating in Canada like Coinbase, CoinSmart, Crypto.com and others are likely to have had the same data request from the CRA.
The CRA is also registered with FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) which regulates financial institutions and investigates money laundering and tax evasion.
The best way to remain tax compliant is to report your crypto taxes accurately. Let's learn how.
How is crypto taxed in Canada?
Cryptocurrency is viewed as a commodity by the CRA. This means it's either subject to Income Tax or Capital Gains Tax.
If your crypto is taxed as income - you'll pay Income Tax on the entire proceeds of a crypto transaction. If your crypto is taxed as a capital gain, you'll only pay Capital Gains Tax on half of any profits of a crypto transaction.
So how do you know whether your crypto will be taxed as income or a capital gain? It all comes down to whether your investment is seen as business income or a capital gain. Let's break it down.
Business Income or Capital Gain
The CRA states that they decide on whether you have business income or capital gains on a case by case basis. They also state that an individual transaction may be considered business income, while other transactions by the same investor may be considered a capital gain. All this to say, it's not too clear what precisely the CRA consider business income.
They do have some guidance on this. The CRA states the following are common signs that you may have business income:
You conduct crypto activity for commercial reasons.
You promote a product or service.
You show that you intend to make a profit.
Your crypto activities are regular or repetitive.
With the above in mind - many Canadian crypto investors could be considered to be making business income as opposed to a capital gain. Their own example of business income is of a crypto investor who buys and sells crypto on a regular basis and makes a profit of $40,000 through active trading of cryptocurrency.
多過cad 100k 就要declare個數
The more active you are in crypto trading and the more profit you make increases the likelihood of your crypto profits being considered business income as opposed to capital gains. You should speak to an experienced crypto tax accountant for bespoke advice on your investments and their subsequent taxation, but we can look at the general rules on how business income and capital gains from crypto are taxed in Canada.
Canada Capital Gains Tax on Cryptocurrency
Because cryptocurrency is viewed as a capital asset, when you dispose of it by selling it, swapping it, spending it or gifting it - you'll owe Capital Gains Tax on any profit you make. Crypto transactions which are considered a disposition in Canada include:
You won't pay Capital Gains Tax on the entire proceeds when you sell, swap, spend or gift your crypto - only the profits from it. This is also known as a capital gain.
The news keeps on getting better because you'll only pay Capital Gains Tax on half your net capital gain each financial year in Canada.
Canada Capital Gains Tax on Cryptocurrency
Because cryptocurrency is viewed as a capital asset, when you dispose of it by selling it, swapping it, spending it or gifting it - you'll owe Capital Gains Tax on any profit you make. Crypto transactions which are considered a disposition in Canada include:
You won't pay Capital Gains Tax on the entire proceeds when you sell, swap, spend or gift your crypto - only the profits from it. This is also known as a capital gain.
The news keeps on getting better because you'll only pay Capital Gains Tax on half your net capital gain each financial year in Canada.
得機票無酒店 唔該
租屋可以扣税?
https://www.hrblock.ca/blog/the-tax-implications-of-renting-versus-owning-a-home/#:~:text=In%20Ontario%2C%20your%20monthly%20rent,Manitoba%20Education%20Property%20Tax%20Credit.
There are also a few province-specific ways tenants can benefit:
In Ontario, your monthly rent is a factor into your eligibility for the Ontario Trillium Benefit. Even students in residence may be eligible for this credit.
In Manitoba, renters can claim 20% of their rent up to a maximum of $700 in the Manitoba Education Property Tax Credit.
In Quebec, there are two tax breaks – one from the Solidarity Tax Credit and another for residents over 65 from the Home Support Services for Seniors.
https://www.hrblock.ca/blog/the-tax-implications-of-renting-versus-owning-a-home/#:~:text=In%20Ontario%2C%20your%20monthly%20rent,Manitoba%20Education%20Property%20Tax%20Credit.
There are also a few province-specific ways tenants can benefit:
In Ontario, your monthly rent is a factor into your eligibility for the Ontario Trillium Benefit. Even students in residence may be eligible for this credit.
In Manitoba, renters can claim 20% of their rent up to a maximum of $700 in the Manitoba Education Property Tax Credit.
In Quebec, there are two tax breaks – one from the Solidarity Tax Credit and another for residents over 65 from the Home Support Services for Seniors.
股票投資幾時都係賣嗰時先要報，用另外form報唔係T5
dividend 就每年報一次
dividend 就每年報一次
你有屋住就好難deemed non resident