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Answer

i am a us citizen married a canadian citizen in december

Yes, you should file as Married Filing Separately and only report your income to the IRS. Likewise, your husband will file a Canadian tax return and only report his income to the CRA.

Yes, you should file as Married Filing Separately and only report your income to the IRS. Likewise, your husband will file a Canadian tax return and only report his income to the CRA.

Am I taxable resident of Canada?

Your husband will become a resident of Canada when he permanently joins you in Canada. His 2 week vacation to Canada will not impact his status.

Tax situation

Yes, you likely became a non-resident of Canada when you permanently left to the US. As a non-resident, you do not have to report income earned in the US on your Canadian tax return. You should file a departure tax return with the CRA for the 2015 tax year.

Should I report a US tax return?

Yes, you should file a US return. You may get a refund.

Donation slips from Depandent?

No, you cannot claim a tax credit for donations made by your parents.

How long do we have to be together until we are Common Law?

Hello. According the CRA, your marital status in “common law” if you have lived together in a conjugal relationship for 12 continuous months. This is what you should indicate on your tax return. On both of your tax returns, you will be asked when your marital status changed. This financial post article indicates what is … Continue reading How long do we have to be together until we are Common Law?

Tax situation

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Tax situation

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Tax situation

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Tax claims?

The average person cannot claim most day-to-day expenses such as car maintenance, food purchases, rent/mortgage payments or other living expenses among others. However, there are certain employee deductions that can be claimed to reduce your taxable income. You can claim items such as donations to a charity or political party, university/college tuition and books, medical … Continue reading Tax claims?

Start Up Costs

Hello Jamaiya, Congratulations on your new business venture. If you need help with any financial or accounting activities, feel free to contact us. Startup costs are tax deductible if the business has commenced operations. To commence operations doesn’t require you to start having sales or income. For example, if you registered your business, opened up … Continue reading Start Up Costs

Canadian Corporate Dividends

Hello Bernard, I am glad our website is helping you out! Dividends paid by a Canadian corporation to other Canadian corporation are not taxable, if the two corporations are connected. In this context, the term connected means that at least 10% of the shares of the payer corporation are owned by the corporation receiving the … Continue reading Canadian Corporate Dividends

Trustee moving out of Country

There are no restrictions as to the residency of an individual serving as a trustee. However, your change in residency may play a determining factor in the residency of the trust for tax purposes. Just to let you know, if the majority of the trustees move outside of Canada, the trust will be deemed a … Continue reading Trustee moving out of Country

Does HST get recorded on the Income statement?

Hi Paula HST collected from customers is recorded to the HST Payable account on the balance sheet. HST collected increases the HST Payable account whereas Input Tax Credits (i.e. HST paid on business purchases) decreases the HST Payable account.

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