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Claiming foreign spouse credit

I am a Canadian citizen and I got married last January (2016). My spouse lives in China. She earns close to $8K (CAD) per year. I do not send her any money for her maintenance there. Can I claim the remaining excess spousal credit on my tax return? She will come to Canada by this … Continue reading Claiming foreign spouse credit

Non-Resident Selling Land

Your website is very very informative. I wonder whether you can help me with my question. My sister (a British citizen) bought some land (real estate) in BC 10 years ago, should she sell it in the future, does she have to pay taxes to CRA on capital gains and if so, how and what … Continue reading Non-Resident Selling Land

Do I need to file a Canadian return?

Hello, I am a resident of the U.S., I worked in Canada in 2016. I worked a total of 52 days for a film in Victoria BC. I did not have a tax waiver. I received T4A-NR from Canada. My income while in Canada was Approximately $32000. Canadian Dollars and $4700. was withheld in taxes. … Continue reading Do I need to file a Canadian return?

If I make over $ 30000 as per T5018 for a calendar year period do I need GST registration?

I am T5018 recipient. I do general building maintenance (like superintendent) for a condominium as a subcontractor (I have a sole proprietorship registration). Thank you

Does RRSP contribution counts towards reportable US income on Canadian return

Hello I am a Canadian citizen and was a resident of Canada until Sep 30 of 2016 (the day I sold my house and family relocated to US). I have been working since beginning of 2016 in the US on W2. Hence, I will have to declare my US income till Sep 30 on my … Continue reading Does RRSP contribution counts towards reportable US income on Canadian return

A canadian resident .how to bring foreighn inheritance into canada after death of our father in 2010.

Hi Allan, I have read some of your blogs ,very interesting and clea Our father passed away in october 2010.He left us with some cash and some properties. My uncle has been managing all the accounts and properties in India The properties were transferred in the two brothers name according to the will. The properties … Continue reading A canadian resident .how to bring foreighn inheritance into canada after death of our father in 2010.

Real Estate rental income split

Me and my wife just purchased a investment real estate property with both our name for rental. Question, since I had a regular annual income of $100K+ and she only had $10K. Just wonder what would be the ideal split of the rental income I can declare? 70:30? 80:20? or 90:10? Thanks Vince

When a corporation declare dividends, where is that recorded on the T2 tax return.

The Corporation Is Closing And the corp declared dividends and paid they shareholders. T5s were issued to the shareholders. Where is the dividends paid out on the T2

Other Private Corporation – paying salary to myself while residing in US

Thank you Mr. Madan, for answering my previous questions. If I become a US resident, my Canadian corp becomes “Other Private Corporation”. Can I still continue to use the “Other Private Corporation” to do consulting and online software sales and pay a salary that is equal to the total annual revenue? This way the corporation … Continue reading Other Private Corporation – paying salary to myself while residing in US

Transfering rental properties from personal to corporation

Great website and thank you for all the answers you gave to the people like me. I have 3 rental houses in my name and till this year the income and expenses were reported on my personal taxes. Recently I opened up a corporation and put these properties into the trust of the corporation. How … Continue reading Transfering rental properties from personal to corporation

is possible to pay CPP every month during the year as a self-employed individual?

I am self employed and I was wondering if is possible to pay CPP every month during the year instead of the end of the year. Thank you in advance

Capital gain for principle res

Hello, I bought the house august 2007 and lived until December 2010 as my principle residence, from January 2011 to until June 2016 the house was rental property and I sold the house June 2016 with $ 75000 Gain. Now question is can I exempted all capital gain under section 121. Could you please advise … Continue reading Capital gain for principle res

immigrant shareholders’/directors’ relocation expenses (incurred to start the business)

Hi Alan, unusually helpful website – likely to approach your company if I can’t manage my tax affairs on my own. But would like to DIY to learn… My partner and I immigrated to Canada, with the expressed/stated intention to start up a business here mid 2016. We had permanent residence status upon arrival. As … Continue reading immigrant shareholders’/directors’ relocation expenses (incurred to start the business)

US non resident-Canadian citizen, property owner in Canada

As a Canadian going to have green card soon,What is the taxation look like with having a house in Canada which rented and still under mortgage?If we want keep the house ,probably we should claim non-canadian residency as soon as get the green card.What is the tax implication in Canada for rent , interest on … Continue reading US non resident-Canadian citizen, property owner in Canada

Business Tax On Earning US Dollars While Living In Canada

I am also living in Canada and currently self-employed and working from home online. I am earning USD from more than one US-based companies in exchange of providing them remote business services like back office management, reporting. etc. using online connections. I am receiving my remuneration via checks in mail. As I am not a … Continue reading Business Tax On Earning US Dollars While Living In Canada
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