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Follow up on non resident asset and income splitting

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Income splitting as a non resident returning to canada

My wife and I have been non residents of Canada for 7 years. We are contemplating returning to Canada in the next few years. Most of our financial assets were initially earned by myself. Can I gift assets to my wife while a non resident so that when we return the income from the assets … Continue reading Income splitting as a non resident returning to canada

Treatment of Non resident taxpayers in Canada

How does the Canada deal with a nonr-esident taxpayer in relation to tax deductions as per their personal situation​, while the non resident only earns a part (e.g 70%) of his/her income in the country

Does purchasing a property with a corporation still qualify for principal residence exemption

Hello Allan, in one of your videos you talked about purchasing a principal residence using a corporation owned by the owner/main shareholder of the corporation for the person (and family) to live in. In that scenario does the property (purchased/owned by the corporation and inhabited by the owner) still qualify for the principal residence exemption … Continue reading Does purchasing a property with a corporation still qualify for principal residence exemption

i bought 2 properties last year, ONE CONDO WHICH I LIVE IN AND ANOTHER IS RENTAL PROPERTY

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Do i Need to fill T1135

Do I need to fill form T1135 if I have US ETF invested in Interactive brokers worth over 100k?

US tax return filing as ‘Married,filing jointly’

Hi, I am trying to file my USA tax return for year 2018.I got married in 2018.So I am trying to file taxes as ‘Married,filing jointly’.I worked in the usa with H1-B.But my husband never lived or worked in the USA,although he’s working in Canada. 1) Now,can I even file my taxes as ‘Married,filing jointly’ … Continue reading US tax return filing as ‘Married,filing jointly’

Do I have to show all the US balances in accounts while filing canada tax returns?

Hi Sir, I was in US for last 10 yrs, not used any services and not paid taxes here in canada.I returned back to canada now. Do I need to show all the account balances (like bank accounts, ESPP accts etc) while filing tax returns in Canada.? Thanks

As a Non Resident on TN-1 Visa, do i claim freelance income from canadian clients?

I’m a Canadian Non-Resident living and working in the states for a US company on a TN-1 Visa (close to 5 years now). When doing small freelance work for some clients back in Canada (earnings under 5k), do I need to file a tax return?

Gross up on T5 increases income. Also increase child support payments

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Factual Resident For Tax Filing

Hi. We recently moved to Canada as PR last January 2018. My employer is based in Hongkong and does not have business ties in Canada. I am working online as Data Process per on-demand basis. I am also required to travel every 6 months for 1-2 months back to Hongkong for Data consolidation and retraining. … Continue reading Factual Resident For Tax Filing

Non Resident Taxable income

Greetings.. Question 1. I’ve been living overseas as an expat for 19 years. My gross Canadian income from CPP & OAS benefits totals $17855. I have no other Canadian income. Per the NR4 my OAS Non-resident tax withheld was $2643.75. As for CPP no Non-resident tax withheld. Based on the minimum tax credit, do I … Continue reading Non Resident Taxable income

How to make essay

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I want to invest $1M. Assume return 5%. Shall I open a company to invest or just invest under my own name?

I would like to invest $1M. Assume return 5%. shall I open a new company to invest with the company just holding the investment? Will I need to pay the highest tax rate? Or I just invest under my own name assume I am in the highest tax bracket?

Relocating to US for work temporarily

I am moving to US for work for 3-4 years, however my wife plans to continue to stay in Canada. We own a house in Canada, and I plan to rent in US. Based on some research, I realized I will be treated a factual tax resident of Canada due to significant personal and financial … Continue reading Relocating to US for work temporarily
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