TAX QUESTIONS? YOU ASK LAH!

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Q: I am receiving a salary from my sole proprietorship. Is my salary subject to Monthly Tax Deduction (MTD) and required to be declared in Form E? 

A: No, your salary from your sole proprietorship is not subject to MTD and you are not required to declare it in Form E because you are considered an owner, not an employee, hence the salary is considered a drawing.


Wishing you plentiful tax savings!

Zen Chow

YYC Tax Guru

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