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Step-by-step guide to preparing T106 information returns - Tips and Traps

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Before starting this self study program, please go through the instructional document.

Overview

  • Why is Form T106 so Important for the CRA?
    3 mins
  • What is Reporting Person
    11 mins
  • Multiple stub-periods - T106
    20 mins
  • Tips and Traps #3 Regulation 102 WHT
    38 mins
  • Tips and Traps #8 Compare with other Schedule
    55 mins
  • Walkthrough of T106 Slip - Part III - Transaction with NR
    72 mins

Course Description

The online continuing professional development course offers an overview of completing T106 - Information Return of Non-Arm's Length Transactions with Non-Residents (T106).

The CPD course will discuss the possible traps and how to identify tax issues with completing T106. 

The online CPD webinar provides a practical perspective on filing T106 forms and what are some of the red flags that can raise a CRA audit. 

The online CPD course also includes walk through of T106 summary and slip.

Key topics covered in this online webinar are:

  • Overview of Form T106 filings requirements and obligations
  • Completing T106 summary form – Section I, II & III
  • Completing T106 slips – Part I, II, III, IV, V & VI
  • How to identify tax issues and exposures when preparing/reviewing T106
  • Traps and Inherent risks with cross-border inter-company transactions
  • Upstream loan tax implications and foreign affiliate dumping
  • Thin capitalization rules and back-to-back loan rules
  • Shareholder loan issue and deemed dividend
  • Withholding tax
  • Payments to non-residents and withholding tax implications
  • Transfer pricing issues - what to look for in a T106?
  • Identify CRA audit red flags when preparing T106?


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Learning Objectives

  • To discuss the importance of Form T106 for the CRA
  • To discuss the filing requirements of Form T106
  • To discuss filing due dates of Form T106
  • To discuss the penalties for late filing, failure to file, false statement or omission
  • To discuss voluntary disclosures in Form T106 filings

Who Should Attend?

  • Bookkeepers & Accountants & Tax Preparers
  • Chartered Professional Accountant
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Professionals
  • Tax Pros
  • Young CPA