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Question

Option Trading in RRSP accounts

Can I sell options (covered call and cash-secured put ) inside the RRSP account and is there any meaningful limitation on numbers of trades, volume or frequency?

FHSA to RRSP transfer and PFIC concerns(moving to US)

I was told that moving money from an FHSA to an RRSP might help avoid PFIC tax issues. I’m also planning to move to the U.S. and become a tax resident there. I want to understand if there are any problems with this. 1: Does moving money from FHSA to RRSP trigger any tax in … Continue reading FHSA to RRSP transfer and PFIC concerns(moving to US)

Form 5471 Preparation Fees

Our Canadian corporation is a CFC for U.S. tax purposes(2 shareholders each 50% both are resident of US), and we are required to file Form 5471 each year for U.S. compliance. Can the professional fees paid for preparing Form 5471 be deducted as a business expense for Canadian corporate tax purposes?

2025 Canadian Tax Residency Guidance Question

Hi Allan, Thank you again for your previous help. I’d like your advice on whether I should file my 2025 Canadian taxes as a factual resident of Canada, as recommended for my 2024 filing. Background: Retired Canadian; moved to Portugal in May 2024. Temporary resident of Portugal from August 12, 2024, to August 12, 2026; … Continue reading 2025 Canadian Tax Residency Guidance Question

Canadian non-resident issued T5s – Tax filing requirement

I am a Canadian non-resident and my Canadian banks have issued a T5s for bank/GIC interest instead of NR4s. Am I responsible for filing taxes with the CRA and paying taxes on these T5s as no taxes were withheld? The T5s are interests from savings account, GIC interest. No dividends.

Tax return help for usa and canada

Hello, I was previously on an F-1 visa (wife on F2) in the United States, but moved to Canada in March 2025 and joined a new employer here. I qualified as a U.S. tax resident under the Substantial Presence Test, having lived in the U.S. since 2019 on an F1. After relocating to Canada, I … Continue reading Tax return help for usa and canada

US dual Canadian citizen received down payment from US citizen parents for down payment transferred directly to Canadian attiheld in trust

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Non-Resident Short-Term Employment Income

I’m a U.S. tax resident and I have a Canadian corporation. I plan to work physically in Canada for one month. Assume I receive CAD 10,000 salary from my corporation for the work I performed during that time. I want to understand my Canadian tax obligations and proper reporting. Specifically, I’d like clarity on: Canadian-source … Continue reading Non-Resident Short-Term Employment Income

Compassionate care

Good afternoon, I am living abroad now but when I left Canada was right after Covid. I was receiving compassionate care and I have decided to spend time with my dad and to see what was happening after Covid. I have found in the same year a job that I lost after a year because … Continue reading Compassionate care

Selling Rental Property as Non Resident

I’m a Canadian Citizen that is a non tax resident of Canada (I live/work in the US) I want to sell a rental property this year that I own in Canada. From my understanding, 50% of the gross sale proceeds have to be withheld and I have to submit a clearance certificate as soon as … Continue reading Selling Rental Property as Non Resident

Canada and The UAE Tax Treaty

What is the withholding tax rate on dividend paid from Canadian sources into a Canadian brokerage account to a non-resident Canadian citizen living in the UAE with a golden visa?

Best bank As a Canadian Non Resident

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T5 issued by bank instead of NR4 for savings account

I am a Canadian non-resident and my Canadian bank has issued a T5 for bank interest instead of an NR4. Am I responsible for filing taxes with the CRA and paying taxes on this amount?

Concerning foreign income conversion and whether FX and transfer fees are considered a loss/expense

I have some untaxed foreign income from contracts for the first time this year, and I understand that I have to report it converted into CAD using the Bank of Canada exchange rates (I’m using the daily rates). As per your helpful article on filing foreign business income, I also understand that I am to … Continue reading Concerning foreign income conversion and whether FX and transfer fees are considered a loss/expense

How much to file a (simple) Non-Resident 2025 Tax Return for Canada?

I was a stager for a ballet with the Royal Winnipeg Ballet Co., for 49 days during 2025. I am a US citizen. I need to file a Non-resident tax return in Canada for 2025 for the fees I recieved. I have a T4A-NR form. Please advise how I can work with you and what … Continue reading How much to file a (simple) Non-Resident 2025 Tax Return for Canada?

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