NR6 Form

AAA

DEFINITION of 'NR6 Form'

A Canada Revenue Service form that must be submitted by non-residents who have received rent from real property or timber royalties in Canada and who want to file an income tax return under subsection 216(4) of the Canadian Income Tax Act. The NR6 Form must be signed by both the Canadian non-resident and his or her agent, who has been collecting the income and remitting the related taxes on behalf of the non-resident. If the undertaking is approved, the non-resident will be required to submit his or her own income tax payments by the 15th day of the month following the month during which the rental payment was paid or credited to the agent on the non-resident's behalf.

INVESTOPEDIA EXPLAINS 'NR6 Form'

Also known "Undertaking to File an Income Tax Return by a Non-Resident Receiving Rent from Real Property or Receiving a Timber Royalty," this form must be filed on or before the first day of each tax year, which usually corresponds to the calendar year, or before the first rental payment is due. This form should be completed with a list containing the annual estimated gross income, total expenses and net income for each rental property, along with each property's address. The form should also contain a list of the expenses incurred in the property's day-to-day management. This information is used in calculating the tax due.

RELATED TERMS
  1. Income Tax

    A tax that governments impose on financial income generated by ...
  2. Canada Revenue Agency - CRA

    A federal agency that collects taxes and administers tax laws ...
  3. Royalty

    A payment to an owner for the use of property, especially patents, ...
  4. Agent

    1. An individual or firm that places securities transactions ...
  5. Non-Resident

    An individual who mainly resides in one region or jurisdiction ...
  6. Quid Pro Quo Contribution

    A charitable donation for which the donor receives something ...
RELATED FAQS
  1. Where can I find a company's annual report and its SEC filings?

    Thanks to the Internet, finding financial reports is easier than ever. Nowadays, every reputable company has an investor ... Read Full Answer >>
  2. What happens to the fines collected by the Securities and Exchange Commission?

    When the Securities and Exchange Commission (SEC) enforces a civil action against a corporation or an individual found guilty ... Read Full Answer >>
  3. What is an adjusted cost basis and how is it calculated?

    The cost basis of an investment or asset is an important consideration in tax planning for individual investors, business ... Read Full Answer >>
  4. What are some ways to minimize tax liability?

    Minimizing tax liability is one of the most important financial planning aspects for business owners and individuals each ... Read Full Answer >>
  5. Can the government tax your capital gains from other countries?

    Income earned by U.S. citizens is subject to taxation by the IRS regardless of where it was generated. The government of ... Read Full Answer >>
  6. Can you realize capital gains on intangible property?

    Capital gains may be realized on some forms of intangible property. Intangible assets range from patents and licenses to ... Read Full Answer >>
Related Articles
  1. Investing Basics

    SEC Filings: Forms You Need To Know

    The forms companies are required to file provide a clear view of their histories and progress.
  2. Investing Basics

    Policing The Securities Market: An Overview Of The SEC

    Find out how this regulatory body protects the rights of investors.
  3. Personal Finance

    Who's Looking Out For Investors?

    If your account has been mishandled, FINRA and the SEC are among several organizations that can help.
  4. Professionals

    Top Tips for Retirement Account Withdrawals

    Top things you need to know when it comes to managing the complex task of retirement account withdrawals.
  5. Taxes

    Tips on Charitable Contributions: Limits and Taxes

    An overview of the limits and tax deductions of charitable donations.
  6. Retirement

    Retirement: The Journey Of 1000 Miles

    Substantial time should be set aside to fully outline one's vision for retirement and the specific steps that must be taken to realize it.
  7. Taxes

    OK, So I'll Be Smarter Next Tax Time

    5 tax resolutions to start on right now for a smoother tax return next April 15.
  8. Taxes

    What To Do If You Lost Your W-2

    There's no need to panic if you don't have your Form W-2 to file taxes, there are easy ways to gain access to the missing form or file without it.
  9. Taxes

    What is the Effective Tax Rate?

    The effective tax rate is the average rate at which an individual or corporation is taxed per year.
  10. Professionals

    Vanguard Readies Muni Bond ETF

    Vanguard is set to roll out a muni bond ETF, the firm's first.

You May Also Like

Hot Definitions
  1. Adverse Selection

    1. The tendency of those in dangerous jobs or high risk lifestyles to get life insurance. 2. A situation where sellers have ...
  2. Wash Trading

    The process of buying shares of a company through one broker while selling shares through a different broker. Wash trading ...
  3. Fixed-Income Arbitrage

    An investment strategy that attempts to profit from arbitrage opportunities in interest rate securities. When using a fixed-income ...
  4. Venture-Capital-Backed IPO

    The selling to the public of shares in a company that has previously been funded primarily by private investors. The alternative ...
  5. Merger Arbitrage

    A hedge fund strategy in which the stocks of two merging companies are simultaneously bought and sold to create a riskless ...
  6. Market Failure

    An economic term that encompasses a situation where, in any given market, the quantity of a product demanded by consumers ...
Trading Center