Booking agent moves back to Winnipeg from the Grand
This is a multi-part message in MIME format. ---------------------- multipart/alternative attachment Hello David, hope alls well. a couple questions i hoped you could help me with. since i (or actually you on my behalf) are to be filing for 2003 (from August on anyways). the question i have is, do/will i need to register a business (provincial or federally) for this new line of work i am in. essentially i am an online booking agent for several vacation rental properties which are all based outside of canada (bahamas, turks & caicos, & Grand Caymans). the properties are generally rented to clients out of the States, but can really be from anywhere, but certainly no direct BC or Canada ties. my income is obtained on any bookings i receive, by way of a (20%) commision. obliviously i would like to get by with as little paperwork and tax implications as possible, but of course do want to be above board with it all. so what i am wondering is would i need to register, for gst, pst, wcb, etc. etc. (or any other govt office?) i dont feel i necessarily even need/require to register a business name either, since the bookings are made to "myself - the agent"? but perhaps i do?? thanks for your advice on this matter. as for filing for my 2003, i will need to provide you with some figures for my "self-employed" income from August 15th, 03 onward. do you just need a single total taxable income figure, or do you need this to broken down & detailed, if so can you please detail what you would require. as well i would need to provide you with the values of the land holdings i had as of August 15th when I came back to Canada. will there be anything else required for my situation? any advice and info is appreciated thanks for your assistance, and all the best regards xxxxxxxxx ================================================ david ingram replies: There is no particular reason to register an actual company name unless you have a good one that you do not want someone else to use. Then it is still up to you to sue or otherwise enforce your rights if someone else comes up with the same name. If the name you are using is making a difference, you should register the name but even more importantly, you should trademark it federally. Registering for GST depends upon whether or not you are going to gross more than $30,000 in commissions in 2004. If you expect to gross more than $30,000 in commissions, you MUST register but do not need to charge GST because you are not making any bookings in Canada. But beware! "If " you made $40,000 from Grand Cayman bookings, $40,000 form the Turks and Caicos and $40,000 from your Bahamas bookings and then $1,000 from renting someone's cabin on Lake Winnipeg, you would have to charge $70.00 GST on the commissions for Lake Winnipeg.. We should provide a detailed breakdown as per the T2124 form which is what the Canadian tax system wants you to fill out. Find one at http://www.ccra-adrc.gc.ca/E/pbg/tf/t2124/t2124-03e.pdf The guide for the form is at http://www.ccra-adrc.gc.ca/E/pub/tg/t4002/t4002-03e.pdf That should help you - Just remember that preparing a tax return for an international person such as yourself is very much like carving an elepahant. When you carve an elephant, you get a big piece of wood or soapstone or jade or some other medium and you cut away everything that does NOT look like an elephant. In your case, give me all of it and I will cut away (discard) anything that does not look like a Canadian Self Employed tax return. David Ingram Answers to this and other similar questions can be obtained free on Air every Sunday morning. Every Sunday at 9:00 AM on 600AM in Vancouver, Fred Snyder of Cartier Partners and I will be hosting an INFOMERCIAL but LIVE talk show called "ITS YOUR MONEY" Those outside of the Lower Mainland will be able to listen on the internet at www.600AM.com Local phone calls to (604) 280-0600 - There is a provincial long distance line as well and old shows are archived at the site. This from ask an income tax immigration planning and bankruptcy expert consultant guru or preparer from www.centa.com or www.jurock.com or www.featureweb.com. Canadian David Ingram deals daily with tax returns dealing with expatriate: multi jurisdictional cross and trans border expatriate gambling refunds for the United States, Canada, Mexico, Great Britain, the United Kingdom, Kuwait, Dubai, Saudi Arabia, South Africa, Thailand, Indonesia, Egypt, Antarctica, Japan, China, New Zealand, France, Germany, Spain, Italy, Russia, Georgia, Brazil, Peru, Ecuador, Bolivia, Scotland, Ireland, Hawaii, Florida, Montana, Morocco, Israel, Iraq, Iran, India, Pakistan, Afghanistan, Mali, Bangkok, Greenland, Iceland, Cuba, Bahamas, Bermuda, Barbados, St Vincent, Grenada,, Virgin Islands, US, UK, GB, American and Canadian and Mexican and any of the 43 states with state tax returns, etc. income tax wizard wizzard guru advisor advisors experts specialist specialists consultants taxmen taxman tax woman planner planning preparer of Alaska, Alabama, Arkansas, Arizona, California Denver Colorado, Connecticut, Delaware District of Columbia Miami Florida, Garland Georgia, Honolulu Hawaii, Idaho, Illinois, Indiana Des Moines Iowa Kansas Kentucky, Louisiana Bangor Maine Maryland Boston, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico,New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon. 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Nothing in this message is or should be construed as advice in any particular circumstances. No contract exists between the reader & the author and any and all non-contractual duties are expressly denied. All readers should obtain formal advice from a competent financial, or real estate planner or advisor & appropriately qualified legal practitioner, tax or immigration specialist in connection with personal or business affairs such as at www.centa.com. If you forward this message, this disclaimer must be included." ---------------------- multipart/alternative attachment An HTML attachment was scrubbed... URL: http://www.centa.com/CEN-TAPEDE/centapede/attachments/ebb6ab24/attachment.htm ---------------------- multipart/alternative attachment--
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