CANADA DAY EVENT IN NYC - SECTION 216 DEADLINES - JUNE CHARITIES
The Canadian Association of New York is throwing the biggest and best Canada Day Celebration in the city and Trowbridge is pleased to be the GOLD SPONSOR of this exciting event. If you are a Canadian living or working in NYC, be sure to join us on Wednesday, June 27th at Houston Hall (222 W Houston Street @ 7th Ave) for a fun evening of food, drink and entertainment – celebrating Canada’s 151st birthday.
HAPPY CANADA DAY from Trowbridge to all the Canadians around the world!
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Section 216 income tax returns for 2017 are due to the Canada Revenue Agency (CRA) by June 30 th , 2018 for most individuals. The CRA has two 2017 tax filing deadlines for non-resident rental property owners – June 30 th , 2018 and December 31 st , 2019.
 
The first deadline of June 30 th , 2018 is strictly imposed by the CRA for taxpayers who were approved to remit non-resident tax withholdings on their net rental income. If form NR6 was approved by the CRA for 2017, allowing you to remit non-resident tax at a rate of 25% of your estimated net income, then you must file the Section 216 return by June 30 th , 2018. Failing to submit the Section 216 return by the June 30 th deadline, results in a hefty penalty of 25% of your gross rental income being issued to your ‘Canadian Agent’ – even if you late file by only one day.
 
If non-resident tax withholdings were remitted to the CRA as 25% of your gross rental income, the CRA allows up to 2 years from the end of the tax year in which you earned rental income to submit your final Section 216 tax return, for example: if you earned rental income in 2017 and remitted tax withholdings of 25% of gross rental income, then you have until December 2019 to file your 2017 Section 216 returns.


Written by:
Ruby Chouhan
Client Services and Business Development
Trowbridge was so pleased to be a sponsor of The 3rd Annual Alomar Sports Golf Classic.

We spent a fantastic day on the course helping to raise funds for Foundation 12 , a Canadian charitable organization founded by former Toronto Blue Jay Roberto Alomar, that uses the game of baseball to help improve the lives of Canadian youth. 
Help Us Reach Our Goal
We are so close to reaching our goal of raising a minimum of $2500 with Trowbridge matching the amounts received! Through to July 1 st , 2018 (CANADA Day), we will match any donations made for $5, $10, $20 or $50 (CDN) made to The Terry Fox Foundation !

Please consider donating to help Terry's vision of a world without cancer become reality.
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WANDERTRUST is a newsletter compiled with a digest of some timely and relevant news links or articles selected for the WANDERTRUST newsletter from thousands of sources by an independent newsletter consultant. Trowbridge Professional Corporation or any associated company does not endorse any of the advertised products and services. Opinions expressed in the articles or news links are those of the author and not of Trowbridge/associated company. Trowbridge does contribute an article written by a variety of staff members, but does not provide any tax advice or consulting in these articles. No information contained in any articles, whether sourced or provided by Trowbridge/associated companies, is to be considered tax advice, and we strongly recommend that you consult with a tax professional.