Archives: Questions

Question

Transferring Jointly Owned Principal Residence to Sole Ownership

Restricted content

Newcomer income before moving to Canada

Hello, I’m not sure what counts as foreign income before moving to Canada, apart from employment income and savings interest? If I sold a car or electronic devices to help with the moving and living expenses when I arrived in Canada, is this considered income? even if the sale resulted in a loss? Thank you

How do I read the NR4s in order to file as I should have been issues T5s/T3s but I forgot to tell my Financial Advisor.

I received NR4s instead of T5/T3s and I want to file. I have informed my financial advisor but they taking forever to get back to me and I want to file. Can I use the information in the boxes on my NR4s to figure out my investment income for my schedule 4? There are numbers … Continue reading How do I read the NR4s in order to file as I should have been issues T5s/T3s but I forgot to tell my Financial Advisor.

Remote work

I want hire worker who lives in India to pickup phone call and write notes. He doesn’t have Canadian working status. is there any payroll responsibility. my business situated in Canada. How can I pay him. what documents I need to keep in case CRA ask. Thanks

Create Company to purchase and subivide land or setup joint venture?

Hi Mr. Madan Absolute great advice in the current Q forum. My Q pertains to real estate transactions. I have a house which is under my name. The neighboring property is owned by the city. I have asked them that I want to combine and subdivide it to create 2 new lots so, in turn, … Continue reading Create Company to purchase and subivide land or setup joint venture?

Non-resident filing canadian return with T5 Slip

I’m a non-resident who has Canadian sources of income through some work as an independent contractor for a Canadian company and a Canadian savings account. My bank sent me a T5 slip for the interest from my savings account instead of the NR4. I have to a file a Canadian tax return because of my … Continue reading Non-resident filing canadian return with T5 Slip

Gift received from parents

Hello, My maternal grandfather sold a property in India and distributed some of the money between his children. My mother wants to transfer that money as a gift to me in Canada. Please tell how they can deposit money in account and I can receive in my bank account without hassle? Will any document be … Continue reading Gift received from parents

Best tax program to file if I reside in Ontario but Work in Quebec?

I am trying to file my income tax online for the first time I am married and have 3 kids but my wife is a stay at home mom.I reside in Ontario but work in Quebec. What is the best software you would recommend ? Any advice on who I can claim as a dependant … Continue reading Best tax program to file if I reside in Ontario but Work in Quebec?

Expensing inventory T2125

Restricted content

Self employed business Expenses

I earned under $12k in 2019 and find I get a larger refund if I do not include the business expenses to make that income. Is it optional to include the expenses on my tax return? They usually reduce taxes but not this time. Also, can I then use those legitimate expenses on my HST … Continue reading Self employed business Expenses

Urgent please: Owners loan to corporation and loan repayment

Restricted content

T4a-NR for work done outside of canada

Restricted content

GIFI line 3720 (as prior period adjustments to retained earnings)

Restricted content

Do I need to declare foreign assets on T1135? 2019 my first ever resident year. But, 2018 I filed as nonresident

Restricted content

Can I collect GST/HST?

Restricted content

Pin It on Pinterest