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Question

Child Tax Benefit for international minor children?

My wife and me are currently the legal custodians of my nephews who are 7 and 13 years old respectively. Their parents living in China sending them here to study and we are appointed to take care of the kids for them. Basically they pay all the tuition for the kids and we provide shelter, … Continue reading Child Tax Benefit for international minor children?

Establishing Residency in Canada

Hi Allan, I became a permanent resident of Canada 15 years ago (my wife is a Canadian Citizen) but both of us have spent very little time in Canada. I did not declare my assets when I first landed in Canada and have not ever filed a tax return. We are now planning to move … Continue reading Establishing Residency in Canada

Mutual fund investment on the balance sheet: book value or market value?

Hi Allan. Great site and videos! A simple accounting question but has been resistant to my searches…should the balance sheet of a CCPC represent its passive mutual fund investments by book value or market value? And at which date? (end of fiscal year or as of preparing the financial statements). Thanks!

Bought a shop in mall in 2018 to rent it and paid $200. No income, should I report the cost of the shop for this year and where?

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interest free loan

Hi, Just wondering if I can take out an interest free loan from my corporation to purchase a vehicle for my Corporation and Personal use. Thks,

US Tax Retrun

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Non-Resident and RRSP after death

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Husband wants to file non-resident so he does not pay tax?

Spouse Working Overseas, His Family And Dependents Are Living In Canada ? Husband Want To File Non-Resident So He Does Not Pay Tax? Correct?

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’

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