Archives: Questions

Hi there! I’m curious about any issues with taxes as a dual American-Canadian citizen working for a U.S. company remotely for a few months. My permanent address and relatives all reside in the U.S. and I am not planning to stay more than 3 months in Canada. I work 100% remotely and will be staying … Continue reading Dual American-Canadian citizen temporarily in Canada

Hi Madan, I and my wife jointly own a rental property in the US (hold title and mortgage together). As we are both non-resident aliens to the US, do we each file a separate 1040nr. How do we then split our income/loss reportable in 1040 schedule E and other related forms? Thanks for your help.

Hello Madan, I got a TN visa job opportunity in the US so I moved here end of August 2022. I worked for a Canadian company till 2 weeks before leaving. Do I need to report 4 months of US earnings when I file this year Canadian taxes? Also, what are my ways to avoid … Continue reading Canadian on TN Visa recent mover

Hi Allan, Last year( Sept2022) I rented out my principal residence(town house) and moved to another house (detached single house) which is now my primary residence. So wondering how do I claim Principal residence Exemption on my townhouse which is deemed to be sold to myself and purchased by myself. I did FMV of my … Continue reading Principal residence Exemption

What Gifi code should be used for car/mileage expenses. For the corporation, we track the mileage used for business and expense a rate according to CRA’s website (68cents/km in 2023). Should Gifi 8915 (Motor vehicle rentals) be used? or 9281 (Vehicle expenses)? SCH125 Thanks. Reference: https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/payroll/benefits-allowances/automobile/automobile-motor-vehicle-allowances/reasonable-kilometre-allowance.html

Person moves from US to Canada, in April. They are not US Citizen/PR. They pass substantial presence test for US but they also pass tax residency for Canada (as 183 days). The person kept getting payed via US payroll. In this case is the person dual resident ? (i.e. 1040 till April, and 1040NR after … Continue reading Moved from US to Canada

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I inherited a deceased relative’s apartment through his will in India last year and immediately dold it off. Do I need to file T1135 or T1142 or both?

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Thanks. Your info and website are very helpful

If a corporation has a business loss in 2022 My understanding is it can be carried back to previous year ( g : 2021). Which form is required to be completed and claim it for previous year? I had a tax owing situation in 2021, so was looking to claim this loss and maybe get … Continue reading Business loss

My broker re-balanced my investments by selling some stocks before I got a chance to inform him I am a non resident. What are the tax implications? Which tax return needs to be filed? Thanks

Is It A Good Idea To Report Tax Separately Between Husband And Wife If Husband Has 2 Rental Property And A Full Time Job?