F SILVEIRA CPA
Toronto & The GTA
Foreign Income Tax Services
Earnings from a foreign employer are defined as income received outside of Canada. Your foreign employment income is subject to Canadian currency reporting requirements. Generally, the amount in a foreign currency should be converted using the Bank of Canada exchange rate in effect on the day you received the income. On the other hand, if another source satisfies the requirements, the CRA will typically accept that source’s rate for that day.
Foreign income tax entails a variety of tax laws and filing requirements that could be time- and resource-intensive. We can assist you with any tax compliance needs at F Silveira CPA because we are certified foreign income tax service providers.
Our team can perform a thorough analysis of your business and offer creative financial advice.
We can systematically record, analyze, and interpret the financial information of your business to your critical advantage.
We’ll listen to your goals, aspirations, and dreams and develop a financial plan that strategizes your path to achieving them.
FOREIGN INCOME TAX EXPERTS
Tax Consultation and Filing
You must include all your foreign income on your return, whether you reside in Canada or are a considered resident of Canada who resides abroad.To offset any foreign taxes, you may have to pay on your income, you may be eligible to claim a credit. You may be qualified for an exemption on the foreign income you disclose in addition to the tax you paid.
It’s crucial to be aware that the CRA has a variety of international tax treaties, and that your income’s source will affect the reporting requirements. You may need to speak with our specialists at F Silveira CPA to comprehend how your income is classified.
At F Silveira CPA, we provide outstanding outcomes with a rapid turnaround. Contact us today.