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How do I rectify this with CRA? Death of a non resident parent abroad in 2025. Departure tax not filed when they left in 2022.

Taxes / CRA Issues: My parent permanently left Canada in March, 2022. Did not file a departure tax return when they left Canada. Now they passed away in September, 2025 – last year. They only have a bank account in Canada. No house or RRSP or TFSA or any other investments at time of death. … Continue reading How do I rectify this with CRA? Death of a non resident parent abroad in 2025. Departure tax not filed when they left in 2022.

Dividend refund

Hi, For a corporate tax return, when an eligible dividend is paid out and Part IV tax is due, there is an offsetting dividend refund. If there is a dividend refund that is returned by the CRA, how is that dealt with in terms of bookkeeping? Is it fair to keep a contra account to … Continue reading Dividend refund

Foreign rental apartment when one partner is a resident and the other is not

Hello, My partner and I have a foreign rental property. I’ve been a resident of Canada for the last 9 years, but my partner is not a resident. All income and expenses on this rental property are on my partner, and we have a 30-year-old agreement that this property belongs to him (even though we … Continue reading Foreign rental apartment when one partner is a resident and the other is not

Other Income earned T4A

I sold a product (engraving on a board) during Christmas and was given a T4A from a client. Is it possible to deduct the cost of the product on the income tax. I paid over $1000 for the product so in reality I did not earn the full amount on the T4A

emigrating to India

Hello there, I am 71 and after 25 years, me and my wife are planning to return to India for good. 1. If I keep one Canadian bank account to receive pension, CPP etc will it have any bearing on my status as a non resident? 2. What is the best option for my Canadian … Continue reading emigrating to India

Missed foreign income reporting from 2021-2024

Hi Allan, I missed reporting approx 3000 cad each year total foreign interest, dividends and capital gains for 2021-2024. I first became a canadian resident in october 2021. I will now be filing a departure tax return in 2025. My foreign holdings below 100k threshold for 2021-2024. I was thinking of filing T1 adjustments for … Continue reading Missed foreign income reporting from 2021-2024

Inheritance of Canadian Property Held by USA Resident, All Beneficiaries are also USA Residents

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Inheritance of Canadian Property Held by USA Resident, All Beneficiaries are also USA Residents

Hello, Our mother, Gwen E. Omans, passed away in August 2025. She, a USA resident, owned a cottage property on the north Bruce Peninsula, Ontario. My siblings and I, also all USA residents, are inheriting the property. All property taxes are paid up to date, and there are no issues with the property. We do … Continue reading Inheritance of Canadian Property Held by USA Resident, All Beneficiaries are also USA Residents

Non-resident tax implications on life insurance

Hi, I am a Canadian citizen now living in the US. My mom passed away and I am the beneficiary of a Canadian-based 25k life insurance policy. I still hold a joint bank account in Canada with my sister. If I deposit this cheque into my Canadian bank account as a non-resident, are there tax … Continue reading Non-resident tax implications on life insurance

Establish property Value Before Leaving Canada

Hello, I left Canada in 2014 as a traveller planning to come back but in 2015 I decided to stay abroad and started filing taxes in 2015 as non resident. I started renting property then. When I left I did not appraise the property. When I sell it in the future I am afraid the … Continue reading Establish property Value Before Leaving Canada

Gifting share of house

About 6 years ago, I went on title with my daughter on a rental property with 50/50 share. The property is currently assessed at 1.1 million and was purchased for 850,000. What would be the tax implications in the two options below 1. Gift my 50% of the share 2. Stay on title and setup … Continue reading Gifting share of house

HST Quarterly instalments

Hi Allan team, I have a small corporation. I paid the business GST/HST first three instalments for current year based on previous year HST net tax, do I still require to pay the final 4th quarter instalment even I have overpaid for current year (less sales in current year)? Will CRA charge interest if I … Continue reading HST Quarterly instalments

How to delay OAS …if non-resident of Canada….

Hi Allan. My wife and I (Canadian citizens) became non-residents of Canada in mid-2020 and filed up a Departure form with the CRA. We live and work in Portugal ever since (tax residents here). I applied for my CPP last year and have been receiving it for the last 6 months. I am turning 66 … Continue reading How to delay OAS …if non-resident of Canada….

TFSA holdings

Hi Allan, I currently hold stocks in my TFSA and will be moving from Canada to the U.S. in summer 2026 for work for a couple of years. I’ve heard that once I become a U.S. tax resident, income earned in a TFSA must be reported on U.S. tax returns. Given this, would you recommend … Continue reading TFSA holdings

reg non residence tax return

Hi Allan thanks for your reply but if 216 tax return cannot be filed under VDP .Can I use form 1159 to file 10 year tax returns or regular t1 form to declare non disclosed rental Inocme and pay 25% tax on gross rental Income.Remaining unfiled taxes since 1995 I expalin in the narrative. I … Continue reading reg non residence tax return

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