No, it's your after tax income.
-daydream123(梦驰CN);
2013-3-26(#8121088@0)
Are you kidding? How can it be 'after tax' as no tax was paid?
-maplus(马+);
2013-3-26(#8121094@0)
because CRA lays hands before you. You don't get to touch your tax money.
-2841999(四友);
2013-3-26(#8121106@0)
If you don't pay tax the agent has to pay. In the case that the agent deducts it as a cost, CRA would either enforce him/her to pay or you must pay, depending upon the agreement you had.
-maplus(马+);
2013-3-27(#8121144@0)
His point is if you (who is receiving the rebate) do not claim it as income then there is a flaw in the system...
-jeffrey815(Smartiecat);
2013-3-27(#8121453@0)
exactly, and if this is a valid argument, then no agent will ever need to pay taxes again.
-kakaka(小胖子);
2013-3-27(#8121471@0)
You have an agreement with the seller. The seller has an agreement with the seller's agent. The seller's agent has an agreement with your agent. Each step is indepedent.
-jeffrey815(Smartiecat);
2013-3-27(#8121519@0)
If you want to avoid paying tax, the correct way to do it is to lower the purchase price of the house by telling the seller's agent that your agent will accept a reduced commission
-jeffrey815(Smartiecat);
2013-3-27{107}(#8121495@0)
and the seller's agent will need to sign a new agreement with the seller to reduce the overall commission.
Simply issue, some people made it complex, some JJ even issued T4A to the clients. JJ claim expense, clients no need to claim income. JJ can't force clients to claim income. If you prefer, you may claim, but don't mislead others.
-minnaz(AMX);
2013-3-28(#8123086@0)
If it's T4A, you need file as income.
-jjjj(天若有情);
2013-3-28(#8123135@0)
no, you need to tell your JJ, cancel it, you don't have right to issue T4A to me.
-minnaz(AMX);
2013-3-28(#8124194@0)
JJ claims expense as it is, you don't need to claim income, you see, why tax is complex, not everyone can understand, that's why you need professional accountant who can really understand the rule of tax
-minnaz(AMX);
2013-3-29(#8126180@0)
why don't JJ claim 100% as expense if that's the case
-jeffrey815(Smartiecat);
2013-3-29(#8126186@0)
I got t4a from my realtor and she won't cancel it. How do I deal with it
-lenwang(len);
2013-4-10(#8143176@0)