We own US property via C-corp. Both spouses have greencards but live in Canada under PR. Husband has high earning corporation. I am not working.
Instead of husband drawing a large personal salary to cover personal expenses:
1. How are the retained earnings in C-corp viewed in Canada? Any implications with CRA?
2. Can I draw personal dividends from US at low amounts (50k) and bring to Canada? What taxes will be levied if any by CRA? I also get a 40k salary from Husbands corp – will my effective salary now be 40k CAD and 50K USD dividends?
3. Property qualifies for accelerated depreciation in C-corp. If there is a CRA tax due as well, do the same depreciation limits apply with CRA? Thank you.