Questions Archive

Can a Canadian permanent Resident own a U.S. C Corp and pay herself as an outside contractor

Restricted content

Question regarding truck driver

Restricted content

PRE on Rental

We have a basement and when we file our taxes, we show Rental Income on it. We do it like this (32.4 Personal/ 67.6 Rental). If we do sell our house later on, will we pay capital gains tax on it.

If I do truck driver job. Do I need to register my business with CRA, (Payroll Account, GST Account), remit CPP Deductions and GST to CRA. At the end of the year, they make a T4 slip regarding the amount of income earned, CPP deductions?

Returning Canadian and sale of Property after return

Myself and my wife were non resident from Jan 2017 to Sept 2020. We returned to Canada on 30 Sept 2020. I have still 3 months of 2020 as Resident. Can I sell my Rental property in this Financial year as least tax year for me as no job in Cabada as of now.

retain Earning adjustment

Hello, I am helping my friend to do his company Corporation tax return 2019. I got his previous year 2018 tax return document, his year2018 balance sheet just showed current year retain earning, on this 2018 balance sheet didn’t include previous years retain earning which is -78562, (loss), how can I adjust –78562 to my … Continue reading

Gift from savings Account of non resident indian parent to non resident Indian children

Restricted content

Gift Deed Transfer From Parents Account In India To Canada

Hello, my widowed mom lives in Ontario, Canada. She wants to gift money from her savings account in India to her 2 adult children also living in Ontario, Canada. She wants to gift the money while she is alive to children so she feels fulfilled and satisfied as a parent during her old age. Could … Continue reading