Master the intricacies of non-resident tax filings and real estate transactions with this engaging and informative session from the CPA Small Practitioners' Forum 2024. Led by a seasoned non-resident tax specialist, this course will guide you through the step-by-step process of preparing and submitting tax forms such as T2062 and T1261, understanding withholding requirements, and navigating principal residence exemptions.

Learn practical tips for ensuring compliance and reducing delays, while also avoiding common pitfalls that can trigger audits or penalties. Packed with real-world examples and expert insights, this course will equip you to handle non-resident tax matters confidently and effectively, making you a valuable resource for your clients and firm.

Topics List:

• Defining Non-Residency and Tax Implications
• Understanding Principal Residence Exemptions
• Withholding Tax Rules and Penalties
• Filing T2062 and T2062A Forms
• CRA Audits and Compliance Certificate Requirements
• ITN Applications and Common Challenges
• Addressing Recaptured Depreciation on Property Sales
• Handling Rental Income and NR Tax Compliance
• Navigating the 45(2) and 45(3) Elections
• Managing Estate and Trust Dispositions
• Best Practices for Avoiding Delays and Penalties
• Common Errors and How to Avoid Them
• Impact of COVID-19 on Non-Resident Tax Compliance
• Preparing Comprehensive Documentation for CRA
• Legal Considerations for Non-Resident Real Estate Transactions
• Understanding Fair Market Value and Appraisal Requirements
• Strategies for Filing Back Taxes and Penalties
• Case Studies: Successful Non-Resident Tax Management
• Working with Legal Representatives and Notaries
• Cross-Border Tax Considerations and Planning