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part iv tax circularity

I need your advice and, if necessary, assistance to correct/confirm tax treatment for a pre-sale reorganization that preceded the sale of Opco (closed end of aug 2025). Below is the full factual background, what we did, what has posted on the T2s, and the specific questions I need you to answer: Facts & timeline Opco: … Continue reading part iv tax circularity

Non resident of Canada- Personal Tax return

Left Canada permanently in the year 2025. Stayed for less than 183 days in the tax year 2025, and have no significant residential ties in Canada. Did not earn any income in the year 2025. And donot have any other forms of income like RRSP/employment/rental/business etc. I donot owe any tax so far – until … Continue reading Non resident of Canada- Personal Tax return

How to Update your date of departure on a filed return

I left Canada in 2023 and mistakenly filed my tax return for that year as a non-resident. In hindsight, I should have filed as a resident (emigrant) and included my date of departure in the return. I only became aware of this error recently. I contacted the CRA to inquire about the status of my … Continue reading How to Update your date of departure on a filed return

Not filled the non resident forms NR5 in tine 2021-2025

Hi Allan, I am a canadian and Romania citizen very ill, on CPP Disability, left Canada în 2017 and from 2021 i was charged 15 percent treaty tax. I stilul have a bank account in Canada for safety, i Did not fill up the forms NR5 sincer 2021. I want to sens the form for … Continue reading Not filled the non resident forms NR5 in tine 2021-2025

Non resident of Canada with Canadian bank interest

Hello, I am a Canadian citizen who moved to Japan, but only on a temporary spouse visa which gets approved for 1 or 3 years and has to be renewed each time. If my spouse passes away or divorces, I have to return to Canada. Since it’s not entirely a stable visa, I prefer to … Continue reading Non resident of Canada with Canadian bank interest

Did I get the right advice from CRA call centre agent? Regarding EMIGRANT return?

1. Left Canada for my home country on January 21, 2021. Did not file an Emigrant return or inform CRA about my departure date. 2. I had no house, no RRSP, no TFSA, no stocks, no Mutual Funds, no pension, no OAS, no CPP, no Capital Gains when I left. 3. I only had a … Continue reading Did I get the right advice from CRA call centre agent? Regarding EMIGRANT return?

Can an Inheritance be split 50/50 with a spouse in a non-registered Join account or do attribution rules apply?

I am not clear if attribution rules apply to an inheritance that is invested in a non-registered account. I believe the money is marital property if its deposited into a joint account and is not considered income. How does the CRA view this?

Capital Gains on sale of foreign Cottage.

I inherited a cottage in Sweden in 1986, valued to SEK 46000 (CAD 5.12 kr). In 1990 we renovated to a cost of CAD 20000. Only upkeep since then. This cottage is not deeded, the land is rented. I own it with my husband 50/50 split. We both pay yearly taxes in Sweden. We have … Continue reading Capital Gains on sale of foreign Cottage.

Left Canada in May 1999 – Did not file a Departure date and Emigrant return. How do I rectify this now?

I have a similar situation to a question asked May 9th and would like to ask for best course of action for the specific case to correct the situation. (1) Left Canada in 1999 on a TN visa to work in the US. After one year was converted to H1B VISA. Obtained Green Card and … Continue reading Left Canada in May 1999 – Did not file a Departure date and Emigrant return. How do I rectify this now?

Left Canada in May 1999 – Did not file a Departure date and Emigrant return. How do I rectify this now?

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Instalment Corporate tax payments and CCPC

I researched that this scenario: An Alberta incorporated is a CCPC and makes Small Business Deduction claim and its directors reside in Alberta. It earns less than $500,000 in income. But then, all of its Directors emigrate and start residing abroad. The business is still managed in Alberta and has address in Alberta. In this … Continue reading Instalment Corporate tax payments and CCPC

Emigrating from canada with a cCPC

Hi, I am an IT consultant incorporated in canada and currently in the process of moving abroad and I will continue to work part time with clients in Canada remotely. I am moving to UAE (no income tax) and I want to declare non-residency to avoid income tax on global income. After becoming a non-resident … Continue reading Emigrating from canada with a cCPC

Applying for residency in Italy Dec 2025

Good morning Allan I am a dual citizen of Italy and Canada (born in Canada). My wife is a Canadian Citizen. We are applying for Italian residency in Dec 2025 on our arrival in Italy. We will be in Italy 7-9 months each year and in Canada the rest. We have a house we would … Continue reading Applying for residency in Italy Dec 2025

Returning residents after over 15 years

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Cra keeps adding basic personal amount to 216 returns

I am a non resident. Never been a residsnt and never lived in canada. Own a investment property and have been filing 216 returns for the past few years. When i recieve the notice of assessment every year, i see the following: Explanation of changes and other important information Based on the information you gave … Continue reading Cra keeps adding basic personal amount to 216 returns

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