Questions Archive

Resident Tax Status

My 26 year old daughter is a dual Canadian/UK citizen. Up to and including tax year 2018, she has completed annual Canadian tax returns. She has RRSP’s, a Canada bank account with credit card, an Ontario health card and driver’s licence, but no primary ties (spouse, children, house) in Canada. She no longer receives Federal … Continue reading

Gift from Brother Living Abroad

Hi Alan, My brother wants to gift me around $60K to help me buy a condo here, he works and lives in Dubai and not expecting me to return it to him. Do you recommend that we sign a gift deed confirming that ” the gift is being made from his own past savings, irrevocable, … Continue reading

Qatar non tax treaty country

Hi Allan, I read your quoted comments in an article called “Can you take a working tax holiday” on the advisor.ca. I was bit worried when it was written in the article that non tax treaty countries (Qatar) are harder for the tax payer to prove tax residence position in them and easier for the … Continue reading

Should I incorporate my real estate investment properties?

About to buy 2 rental properties both with suites…should I by thru an incorporation or in my name?

T2 Prior adjustments to payables in GIFI 3720?

Hi there, I very much enjoyed your blog and Q&A posts – thank you for giving back to the community! My accountant retired and as I’m doing the T2 corporation return myself, I noticed that last year there should have been some payable amounts included (operating expenses and income taxes payable). Am I allowed to … Continue reading

Foriegn Employment income tax when received or earned (by non resident)

Hi Madan, my family are living in Canada however I am working in the middle east, I have below questions please: 1. should my salary be reported in the year received in my bank statement in Qatar, or in the year I transfer them to Canada? 2. Earned or Received? for example can I keep … Continue reading

Canadian Temporary Resident wanting to register an LLC for ecommerce business

I’m a temporary resident in Canada on work visa and want to register an LLC for ecommerce business. I’m leaning towards registering it in the USA as that’s where I want to sell but not sure what the tax implications will be. I can’t register the LLC in my country of citizenship as it is … Continue reading

Becoming non-resident of Canada

I am a Canadian citizen and have been a permanent resident of Canada for the past 30 years. I will become a non-resident of Canada in June or July of 2020 – I am moving permanently to a country in the European Union (EU). I have recently sold my only home in Canada (primary residence) … Continue reading

Corporate structure to deduct most expenses

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Incorporation of Canadian Entity at Ontario

We are to incorporate a BC at Ontario province and the entity shall be either a Subsidiary of a US entity or of an Indian Entity. Kindly advise DTAA between which countries are most favourable. Which subsidiary will be better under corporation tax aspects.

US Citizens Owning part of a Canadian company

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Canadian Citizen and Resident/US Expat Investing Stocks and Options

I am an Albertan and a US Green Card holder. If I was to open a brokerage account in Canada and trade stocks, futures and options, is that declarable to the US? If so, is it only US based underlinings I would have to declare? or is it any investment profits (including TSE companies)?

Can my brother in law living in a newly purchased condo (preconstruction) allow me to avoid paying HST

A preconstruction condo I purchased is about to close, and I would like to claim it as a personal dwelling as my brother in law plans to live there. I wanted to confirm if I can 1. Do this and avoid paying HST by claiming it as my personal dwelling 2. or Do I have … Continue reading

US C Corp with Canadian Holding company

I am an American citizen who is a Canadian permanent resident and I want to open a business in the USA and to bring this income to Canada. I want limited liability, and of course favourable Canadian tax treatment. The idea of a US C Corp with a Canadian holding company has come up – … Continue reading

is HST profit from Quick Method taxable?

Hello, While preparing T2, I credited profit from HST quick Method to other income in schedule 125. Can you confirm if this income is not taxable as I got mixed message from other accountants, some say HST profit from quick method is taxable? If not taxable which line in Schedule 1 can I claim the … Continue reading

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