{"id":89,"date":"2021-05-10T17:22:01","date_gmt":"2021-05-10T17:22:01","guid":{"rendered":"https:\/\/canadiantaxpodcast.ca\/?p=89"},"modified":"2021-05-11T17:28:20","modified_gmt":"2021-05-11T17:28:20","slug":"canadian-tax-podcast-012-psbs-w-8ben-e-and-dual-us-can-citizen","status":"publish","type":"post","link":"https:\/\/canadiantaxpodcast.ca\/index.php\/2021\/05\/10\/canadian-tax-podcast-012-psbs-w-8ben-e-and-dual-us-can-citizen\/","title":{"rendered":"Canadian Tax Podcast 012: PSB&#8217;s, W-8BEN-E, and Dual US\/CAN Citizen."},"content":{"rendered":"\n<p>Canadian Tax Podcast for the week of May 10th, 2021. This week we cover:<\/p>\n\n\n\n<ul><li>No post-tax season filing extensions;<\/li><li>Represent A Client broke;<\/li><li>Covid benefits tied to 2020 T1 filing;<\/li><li>Personal Services Business (PSB) myths;<\/li><li>Contractors: How to fill out the W8-BEN-E form;<\/li><li>Dual Citzen (US\/CAN) filings;<\/li><\/ul>\n\n\n<p><!--more--><\/p>\n\n\n<h2>[INTRO]:<\/h2>\n\n\n\n<p>\u201cThis is the Canadian Tax Podcast, <strong>Episode # 012<\/strong>,&nbsp; hosted by me, Cameron Ware. Good morning\u201d<\/p>\n\n\n\n<h2>&nbsp;[NEWS SECTION]<\/h2>\n\n\n\n<ul><li>\u201cHappy Monday, it is the week of <strong>May 10, 2021<\/strong>. For all the accountants out there, I hope you all got to enjoy a bit of a post tax-season break. Everyone at my office was away last week on our usual post-tax season break, but CTP is back at it like usual this week. We\u2019ll start with the news.<\/li><\/ul>\n\n\n\n<h2>&nbsp;[ITEM 1] \u2013 NO EXTENSIONS<\/h2>\n\n\n\n<ul><li>No extensions formally granted by CRA.<\/li><li>Rev QC did grant indirect relief.<\/li><li>Why care? Many, many firms and people will just file incomplete as-is stuff, and then amend after the fact.<\/li><li>Bureaucratic processing nightmare.<\/li><li><a href=\"https:\/\/www.ctvnews.ca\/health\/coronavirus\/accountants-politicians-call-on-canada-revenue-agency-to-delay-income-tax-deadline-1.5405056\">https:\/\/www.ctvnews.ca\/health\/coronavirus\/accountants-politicians-call-on-canada-revenue-agency-to-delay-income-tax-deadline-1.5405056<\/a><\/li><\/ul>\n\n\n\n<h2>&nbsp;[ITEM 2] \u2013 CRA REP A CLIENT BROKEN<\/h2>\n\n\n\n<ul><li>Once again CRA experiences technical glitches<\/li><li>Speaking with colleagues, efile and Rep A Client were down on both the 29<sup>th<\/sup> and 30<sup>th<\/sup>.<\/li><li>No extensions given.<\/li><li><a href=\"https:\/\/globalnews.ca\/news\/7821924\/cra-website-down-tax-filing\/\">https:\/\/globalnews.ca\/news\/7821924\/cra-website-down-tax-filing\/<\/a><\/li><\/ul>\n\n\n\n<h2>[ITEM 3] \u2013 CRA \u201cHELPFUL\u201d release<\/h2>\n\n\n\n<ul><li>CRA released another one of their \u201chelpful\u201d blog releases.<\/li><li>Usual fluff, but do cover a major point that your Covid benefits are tied to your tax filings.<\/li><li>Not tied to your service Canada \/ EI system.<\/li><li><a href=\"https:\/\/www.canada.ca\/en\/revenue-agency\/news\/2021\/05\/three-good-reasons-to-file-your-tax-return--even-though-the-deadline-has-already-passed.html\">https:\/\/www.canada.ca\/en\/revenue-agency\/news\/2021\/05\/three-good-reasons-to-file-your-tax-return&#8211;even-though-the-deadline-has-already-passed.html<\/a><\/li><\/ul>\n\n\n\n<h2>ITEM [4] \u2013<\/h2>\n\n\n\n<h2>QUESTIONS<\/h2>\n\n\n\n<ul><li>PSB Query<ul><li>Not sure why the internet is so awful at answering this, but get it together people.<\/li><\/ul><ul><li>Standard answer:<\/li><\/ul><ul><li>Ref 1392644 Ontario<\/li><\/ul><ul><li><a href=\"https:\/\/www.canlii.org\/en\/ca\/fca\/doc\/2013\/2013fca85\/2013fca85.html\">https:\/\/www.canlii.org\/en\/ca\/fca\/doc\/2013\/2013fca85\/2013fca85.html<\/a><\/li><\/ul><\/li><li>W-8BEN-E Query<ul><li>Client needed to file a \u201cW8-BEN-E\u201d and was wondering what it is.<\/li><\/ul><ul><li>IRS disclosure form for payments made to non-residents.<\/li><\/ul><ul><li>How to fill it out:<\/li><\/ul><\/li><li>Dual Citizen (US\/CAN) filings<ul><li>[quote]<\/li><\/ul><ul><li>Your question actually misses things completely.<\/li><\/ul><ul><li>You\u2019re American. The US \u201cis the centre of the world\u201d, therefore play by US rules.<\/li><\/ul><ul><li>You need to file US returns every year.<\/li><\/ul><ul><li>If you\u2019re Canadian resident, need to file Canadian stuff too.<\/li><\/ul><ul><li>&nbsp;<\/li><\/ul><\/li><\/ul>\n\n\n\n<h2>OUTRO<\/h2>\n\n\n\n<p>That will wrap things up for today. Like always, if you have any questions, send them to <a href=\"mailto:questions@canadiantaxpodcast.ca\">questions@canadiantaxpodcast.ca<\/a>, or find us on twitter: <a href=\"https:\/\/twitter.com\/cdntaxpodcast\">https:\/\/twitter.com\/cdntaxpodcast<\/a>&nbsp;&nbsp;<\/p>\n\n\n\n<p>This is Canadian Tax Podcast, thanks for listening.&nbsp;<\/p>\n<iframe src=\"https:\/\/player.blubrry.com\/?media_url=https%3A%2F%2Fmedia.blubrry.com%2Fcanadiantaxpodcast%2Fcontent.blubrry.com%2Fcanadiantaxpodcast%2F2021-05-10_CTP012.mp3&amp;podcast_link=https%3A%2F%2Fcanadiantaxpodcast.ca%2Findex.php%2F2021%2F05%2F10%2Fcanadian-tax-podcast-012-psbs-w-8ben-e-and-dual-us-can-citizen%2F#mode-Light&border-000000&progress-000000\" scrolling=\"no\" width=\"100%\" height=\"165\" frameborder=\"0\" id=\"blubrryplayer-1\" class=\"blubrryplayer\" title=\"Blubrry Podcast Player\"><\/iframe><p class=\"powerpress_links powerpress_links_mp3\" style=\"margin-bottom: 1px !important;\">Podcast: <a href=\"https:\/\/media.blubrry.com\/canadiantaxpodcast\/content.blubrry.com\/canadiantaxpodcast\/2021-05-10_CTP012.mp3\" class=\"powerpress_link_pinw\" target=\"_blank\" title=\"Play in new window\" onclick=\"return powerpress_pinw('https:\/\/canadiantaxpodcast.ca\/?powerpress_pinw=89-podcast');\" rel=\"nofollow\">Play in new window<\/a> | <a href=\"https:\/\/media.blubrry.com\/canadiantaxpodcast\/content.blubrry.com\/canadiantaxpodcast\/2021-05-10_CTP012.mp3\" class=\"powerpress_link_d\" title=\"Download\" rel=\"nofollow\" download=\"2021-05-10_CTP012.mp3\">Download<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Canadian Tax Podcast for the week of May 10th, 2021. This week we cover: No post-tax season filing extensions; Represent A Client broke; Covid benefits tied to 2020 T1 filing; Personal Services Business (PSB) myths; Contractors: How to fill out the W8-BEN-E form; Dual Citzen (US\/CAN) filings;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5,7,27,29],"tags":[],"_links":{"self":[{"href":"https:\/\/canadiantaxpodcast.ca\/index.php\/wp-json\/wp\/v2\/posts\/89"}],"collection":[{"href":"https:\/\/canadiantaxpodcast.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadiantaxpodcast.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadiantaxpodcast.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/canadiantaxpodcast.ca\/index.php\/wp-json\/wp\/v2\/comments?post=89"}],"version-history":[{"count":1,"href":"https:\/\/canadiantaxpodcast.ca\/index.php\/wp-json\/wp\/v2\/posts\/89\/revisions"}],"predecessor-version":[{"id":90,"href":"https:\/\/canadiantaxpodcast.ca\/index.php\/wp-json\/wp\/v2\/posts\/89\/revisions\/90"}],"wp:attachment":[{"href":"https:\/\/canadiantaxpodcast.ca\/index.php\/wp-json\/wp\/v2\/media?parent=89"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadiantaxpodcast.ca\/index.php\/wp-json\/wp\/v2\/categories?post=89"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadiantaxpodcast.ca\/index.php\/wp-json\/wp\/v2\/tags?post=89"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}