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. Agent

    1. An individual or firm that places securities transactions ...
  2. Canada Revenue Agency - CRA

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

    A tax that governments impose on financial income generated by ...
  4. Royalty

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

    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 relations section on its website that is a wealth of information. Walt ...
  4. Investing

    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 of violating SEC regulations, there's a good chance that some sort ...
  5. 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.
  6. Retirement

    Planning Ahead for 2015's Tax Law Changes

    Increased 401(k) limits can help savers put away more money for retirement in 2015—but some new restrictions are coming for IRAs.
  7. Retirement

    Know The Cost of Living Where You Plan To Retire

    When considering where to live after retiring, it's important to keep in mind the type of taxes that would have to be paid at each retirement location.
  8. Year-end tax tips
    Taxes

    7 Ways To Minimize Your 2014 Taxes By December 31

    The year's not quite over yet. See whether taking any of these steps would leave you owing less in 2014 taxes, come April.
  9. The marginal tax rate is based on a progressive tax system.
    Personal Finance

    What's a Marginal Tax Rate?

    The marginal tax rate is based on a progressive tax system, where tax rates for an individual will increase as income rises. This method of taxation aims to fairly tax individuals based upon ...
  10. A new Supreme Court ruling has some financial advisors rushing to set up trusts to help protect inherited IRAs. Is that necessary?
    Investing Basics

    How Advisors Can Protect Inherited IRAs

    A new Supreme Court ruling has some financial advisors rushing to set up trusts to help protect inherited IRAs. Is that necessary?

You May Also Like

Hot Definitions
  1. Commodity

    1. A basic good used in commerce that is interchangeable with other commodities of the same type. Commodities are most often ...
  2. Deferred Revenue

    Advance payments or unearned revenue, recorded on the recipient's balance sheet as a liability, until the services have been ...
  3. Multinational Corporation - MNC

    A corporation that has its facilities and other assets in at least one country other than its home country. Such companies ...
  4. SWOT Analysis

    A tool that identifies the strengths, weaknesses, opportunities and threats of an organization. Specifically, SWOT is a basic, ...
  5. Simple Interest

    A quick method of calculating the interest charge on a loan. Simple interest is determined by multiplying the interest rate ...
  6. Special Administrative Region - SAR

    Unique geographical areas with a high degree of autonomy set up by the People's Republic of China. The Special Administrative ...
Trading Center