Archives: Questions

I was a shareholder in a US company (Livongo) that merged with another US company (Teladoc). For my Livongo shares I received some shares of Teladoc plus a cash consideration and a special dividend. I think I understand how to handle the special dividend, but would like to know how to handle the capital gains … Continue reading Tax implications for Canadian Shareholders of the merger of two uS companies

I retired in 2021 and emigrated in April 2022. I have no property (principal residence sold and declared on 2021 return), family ties or posessions in Canada, except a TFSA. I receive a federal pension and have investment income from outside of Canada. As I understand it, I should file a general T1 for 2022 … Continue reading Filing return as emigrant /non-resident

I plan to rent my home on AirBnB for most of the year. Do I have to charge HST?

I am importing products for sale in my business from the USA into Ontario. When I am charged import duties, is the HST claimable as Input Tax Credits (ITCs) when I remit HST to the government? The goods are being sent using UPS, and I am currently charged 13% plus a brokerage fee (and HST … Continue reading Can I claim import duties as iTCs?

My personal residence (detached house and separate shop) is on 10 acres of my land. The house and shop occupy 2 acres and the other 8 acres are vacant. Can I claim the house and shop and all 10 acres of the property as my principal residence for capital gains tax purposes when I sell?

Hello Quick question, I’m looking to claim on my tax return my childcare costs. My wife and I split last year and she movers back to the uk for a prolonged period of time. We are now back together and they are due to return in July 2023, but I’d like to claim the childcare … Continue reading Claiming child care (Higher earner)

Hi there! I’m curious about any issues with taxes as a dual American-Canadian citizen working for a U.S. company remotely for a few months. My permanent address and relatives all reside in the U.S. and I am not planning to stay more than 3 months in Canada. I work 100% remotely and will be staying … Continue reading Dual American-Canadian citizen temporarily in Canada

Hi Madan, I and my wife jointly own a rental property in the US (hold title and mortgage together). As we are both non-resident aliens to the US, do we each file a separate 1040nr. How do we then split our income/loss reportable in 1040 schedule E and other related forms? Thanks for your help.

Hello Madan, I got a TN visa job opportunity in the US so I moved here end of August 2022. I worked for a Canadian company till 2 weeks before leaving. Do I need to report 4 months of US earnings when I file this year Canadian taxes? Also, what are my ways to avoid … Continue reading Canadian on TN Visa recent mover

Hi Allan, Last year( Sept2022) I rented out my principal residence(town house) and moved to another house (detached single house) which is now my primary residence. So wondering how do I claim Principal residence Exemption on my townhouse which is deemed to be sold to myself and purchased by myself. I did FMV of my … Continue reading Principal residence Exemption

What Gifi code should be used for car/mileage expenses. For the corporation, we track the mileage used for business and expense a rate according to CRA’s website (68cents/km in 2023). Should Gifi 8915 (Motor vehicle rentals) be used? or 9281 (Vehicle expenses)? SCH125 Thanks. Reference: https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/payroll/benefits-allowances/automobile/automobile-motor-vehicle-allowances/reasonable-kilometre-allowance.html

Person moves from US to Canada, in April. They are not US Citizen/PR. They pass substantial presence test for US but they also pass tax residency for Canada (as 183 days). The person kept getting payed via US payroll. In this case is the person dual resident ? (i.e. 1040 till April, and 1040NR after … Continue reading Moved from US to Canada

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