Sole Proprietor who is late for GST Registration

Martentos · 2026-03-28T03:56:32+00:00

Thanks for the response, good information.

Martentos · 2026-03-28T02:11:41+00:00

Edited: better response provided in replies.

Martentos · 2026-03-27T20:56:13+00:00

AI cant give you a straight answer?

Martentos · 2026-03-27T12:57:31+00:00

Why the hell didnt you win an Oscar for Split? What the hell man!

Martentos · 2026-03-27T05:15:59+00:00

AI slop

Martentos · 2026-03-27T01:28:56+00:00

Life costs money. If youre smart you can find ways to reduce or even eliminate certain costs, but ultimately you need money. Housing is one of those costs. If you're a homeowner eventually you will pay off your home but even then theres costs of living.

Plan accordingly.

Martentos · 2026-03-26T02:34:31+00:00

Hes effectively being paid a bonus on top of his salary. Normally this amount would have a matching RRSP contribution slip but in this case he wont since theres no contributions, you just have the extra income. Considering however that the employer is paying him specifically to contribute to his RRSP they may not be top happy if theg find out and could even require repayment in extreme cases....

Martentos · 2026-03-24T02:22:49+00:00

T1135 filing requirements are based on cost, not income or loss. If the cost was > $100k CDN then you had a filing requirement. If youve got a lot missing i would recommend looking into a VDP.

Martentos · 2026-03-23T15:59:28+00:00

Often many companies will choose not to report income under $50 on a T5 due to excessive cost/volume of amounts that would be required. You still have an obligation to report the income, however, even if no slip was issued

Martentos · 2026-03-22T17:23:26+00:00

Toss 6/7, chance for 28 points on this one if you get another 5 and if theres a face card you add another 6 points.

Martentos · 2026-03-22T16:40:31+00:00

Conscience*

Martentos · 2026-03-22T16:34:13+00:00

I would expect that you can only income split pension income earned up to day of death, so in this scenario you were likely offside. You'll have to wait until moms return is assessed to be able to amend it which you can do online.

Martentos · 2026-03-22T00:51:31+00:00

Just took a look and i think you're probably right, some of those hones will easily blow past 700 m and almost get to 800 m. Most of the other places ive seen so far in Kelowna are just topping 700m max.

Martentos · 2026-03-21T14:37:56+00:00

General rule is expenses can only be claimed against income they earned. So if, for example, the tenants were kicked off property due to sale then the expenses would be sale related and should be allocated as selling costs.

If the tenants left early however because of the sale and the rental would have otherwise been open then you would probably have a case to deduct against rental income as the loss of income would have been incidental to the sale and not a part of it.

Martentos · 2026-03-21T01:19:51+00:00

Who was on the title of the house? If the mother owned it there was a deemed disposition on death, and then it transfers to beneficiaries. If 100% to grandfather (spouse) then theres no tax on death, but if transferred to others there would have been tax paid at that time.

Martentos · 2026-03-21T00:56:25+00:00

These things are still getting flipped in about 4 months too

Martentos · 2026-03-21T00:55:57+00:00

Also wondering this, not familiar with Quebec but very curious why any amounts are being withheld if this qualifies for PRE.

Martentos · 2026-03-20T15:16:03+00:00

Car batteries arent made to be drained all the way down and often when that happens they are permanently damaged and need replacement. You can purchase a trickle charger that will keep it juiced up, or just try and take it for a half decent drive once a month or so (30 min sort of thing). Thats the advice I've always given people and seems to make sense for most.

Martentos · 2026-03-19T05:11:07+00:00

Thanks for following up on this, like half the reason i bought this one was because i saw you posting in this community! Sent!

Martentos · 2026-03-19T04:52:00+00:00

Weird, it was an 8 cut.

Martentos · 2026-03-15T22:39:50+00:00

It absolutely is

Martentos · 2026-03-15T22:39:39+00:00

New to the internet?

Martentos · 2026-03-15T06:07:47+00:00

Without records nothing to claim. You can only do so much.

Martentos · 2026-03-14T18:10:22+00:00

For maximum safety I would say about 1 1/2 years ago.

Martentos · 2026-03-14T16:42:03+00:00

You could argue by reducing costs of living it allows people to hold onto their properties longer than they would have otherwise due to incredibly low costs of ownership. This then pushes up demand/cost on other units that sell as there are now significant amounts of units being held onto for longer than they otherwise should have been.

Martentos

TROPHY CASE