Archives: Questions

Question

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’

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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