Included in your package are the following forms:
1. A Painting Contract - Cost Plus or Fixed Fee
2. A Construction Project Information Sheet
3. A Change Order Sheet
4. A Certificate of Completion
5. A Weekly Equipment Summary
6. A Final Project Punch List
7. A Worker Safety and Health Plan
8. An Accident Report Form
9. A Customer Satisfaction Survey and
10. A Company Evaluation by Customer.
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Corporations and individuals engaged in business are required to withhold the appropriate tax on income payments to non-residents, generally at the rate of 25% in the case of payments to non-resident foreign corporations and for non-resident aliens not engaged in trade or business (see the Income determination section
You may have to pay provisional tax. Sometimes payments made under a contract are taxed at a flat rate, called a withholding payment or schedular payment tax is withheld from your fee.
The standard withholding rate is 20%, if the contractor is working through a labour-hire firm, or if there is a particular schedular rate set out in legislation, then this rate will apply (these are the old rates that apply to contractors such as entertainers, labourers, farm workers and so on).
The contractor needs to give you a completed Tax rate notification for contractors - IR330C. If the contractor does not give you an IR330C you need to deduct tax at either: the 45% non notified rate. 20% if the contractor is a non resident company.
4. The Income Tax Act require that withholding income tax be deducted at the appropriate resident or non-resident rate, as the case may be, on any payments made to contractors or other persons engaged in the implementation of OAFPs.
