Archives: Questions

Question

Becoming a Non-Resident (departure, CPP & OAS)

hi Allan, I retired in 2023 and have been travelling ever since and continue to file tax as a resident (including for year 2025). I’m planning to return to Hong Kong to live permanently, beginning in January 2026, and will file as NR for 2026 tax (in Spring 2027) to report dividend and capital gain … Continue reading Becoming a Non-Resident (departure, CPP & OAS)

Claiming CCA & Amount for Eligible Dependent Issue

Hi there, A question regarding personal tax – I claimed the ‘Amount for Eligible dependant (line 30400) and also the CCA infirm children under 18 (Line 30500, $2616 claimed) on my personal tax return. The dependant in question was under 18 and is actually my sister (not my child). According to turbotax/my reading of the … Continue reading Claiming CCA & Amount for Eligible Dependent Issue

Do I need to file a Non Resident Tax Return in Canada?

Left Canada permanently in 2023. Filed an Emigrant return with departure date etc in 2023. I only have a bank account in Canada which pays me about $ 6,000 in interest which is way below the Basic Personal Amount. Bank knows about my non resident status and issues a NR4 slip each year instead of … Continue reading Do I need to file a Non Resident Tax Return in Canada?

Left Canada permanently. Filed Departure Return. Do I have to file as a Non-resident now?

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Emigrant Tax Return – Not filed – Retroactive Filing.

1. Left Canada in January, 2020, did not file an EMIGRANT return. 2. Wrongly filed as a Resident for 5 years – 2020, 2021, 2022, 2023, 2024. 3. No property in Canada, no RRSP, no TFSA, no stocks, no mutual funds, no rental income, no employment income in these 5 years. 4. Only have a … Continue reading Emigrant Tax Return – Not filed – Retroactive Filing.

Non resident taxation

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I ownI own a Canadian LLC, I sell I sell on Amazon in the US, I pay Canadian I pay Canadian tax, is is this in your skill set?

Accounting I ownI own a Canadian LLC, I sell I sell on Amazon in the US, I pay Canadian I pay Canadian tax, is is this in your skill set?

Would you be able to complete 2 routine, uncomplicated T2062 and how much is the fee

Hello Allan,Need 2 T2062 forms completed. Would you be able to do it and how much is the Fee. Thank you. Katharine Wilson

Would I still be considered a canadian resident for tax purpose if the only remaining tie is my spouse who doesn’t want to leave?

Hi, I think this is self explanatory, Also, I am a retired Canadian Forces member and receive a pension. My destinaiton country is Mexico where I hold a residency permit. Thanks Allan, your YT videos are excellent.

7 Months outside of Canada

What would happen if I have a house in Canada but spent 7 months outside of Canada every year instead of the required 183 days (6 months)? Are there penalties upon the sale of the house? What if I don’t sell it but am just spending more than the required time outside of Canada?

Non resident of Canada Inheritance Tax

If you have assets in Canada (mostly registered and non registered investments) but are a tax resident in another country with which Canada has a tax agreement, what happens to those assets when you die? Do they fall under Canadian inheritance laws (tax free) or under the other country’s inheritance law (taxed)?

Us company which format belong to canadian parent company

Good morning, I am a Canadian citizen and it has been four years since I opened my company. Now I want to open my canadian company in the US, and I don’t have a partner. Now I don’t understand which company format should I open in the US that connects with the Canadian parent company … Continue reading Us company which format belong to canadian parent company

Trade stocks as a Business.

Hi Allan, I am a Canadian Citizen who lives abroad, the resident country has high taxes on capital gains if they are short term. I was wondering if it makes sense to trade stocks as a business in Canada. I expect to make around 80K CAD before taxes, and my local taxes would be around … Continue reading Trade stocks as a Business.

T1-ADJUSTMENT for EMIGRANT return. Retroactive filing.

1. I left Canada in *May, 2023* 2. I *wrongly* filed returns for 2023 and 2024 as a *RESIDENT* . 3. In year *2023* upto November, 2023 I got GIS, although I left in May, 2023. 4. After November, 2023 I got NO GIS. 5. After November, 2023 my only source of income is OAS, … Continue reading T1-ADJUSTMENT for EMIGRANT return. Retroactive filing.

work permit holder non-residency

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