Questions Archive

Monetary gifts to family members

Hi Madan, Can my brother in law residing in Dubai can send the gift money to me in Canada for down payment? Can he be consider as a family member to give as a gift? He has to send me the gift letter or it has to be notarized in UAE?

Journal entry for sale of asset and reporting on cCA

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Meaning of Line 7 : Spouse or common-law partner amount in TD1 – 2020 Personal Tax Credits Return

Hi, I would like to know if I can avail deduction for Line 7 in TD1 and how much amount I can avail. My condition below. In my household, I am the head and earning employment income. My spouse is homemaker(0$ income) but she is **NOT infirm. Thank you. Regards

Capital gains in title change

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Transfer house from corporate ownership to personal ownership

Hi Allan, Thank you for all of the great content that you’ve made available on your website – much appreciated! See below for facts leading up to my questions: – My father is an M.D. and has his own medical corporation (CCPC). – The shares of the CCPC are owned by my dad, my mom … Continue reading

Medical credit for medical expenses paid by brother credit card

Hi Allan, I paid $6000 for tooth extraction, plant new and crown using my brother credit card. Can I claim medical credit for these $6K Thanks

Delaware LLC for canadian residents

Hello, I am a canadian resident & citizen wishing to partner with a non-canadian & non canadian resident individual to conduct e-commerce business. We were suggested to form an LLC partnership in Delaware. Assuming I would own 51% of the company: – Can the LLC be considered a parnership or coporation in the eyes of … Continue reading