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Vacant land and tax residency

Dear Allan Madan, My wife and I are Canadian Citizens and have been living for 11 years in the Philippines. We both are Non-Residents for Tax Purposes in Canada (all ties are broken) and do not have to file a Canadian Income Tax anymore. Now, we are thinking of buying a Lot (Vacant Land only) … Continue reading Vacant land and tax residency

Am I resident or Non-Resident?

I left to move to the UK in February 2017, originally intending to reside for several years there, however I now wish to return to Canada. I rented out my Canadian condo and remitted the 25% Non-resident tax. The lease expires at year-end. …should I return before year-end, and if I do am I resident … Continue reading Am I resident or Non-Resident?

How can I deduct interest on a second mortgage?

HOW CAN I DEDUCT AN INTEREST ONLY SECOND MORTGAGE. I BORROWED 50000 TO PAY OFF DEBTS WHICH INCLUDED A LINE OFF CREDIT?

Child Benefit and Tax Return Filing outside of canada

I am a Canadian PR holder currently working in Saudi Arabia. I received my PR Status only last year i.e. 2016 July. I was in Canada for 5 months last year from July to December and then retuned back to Saudi Arabia to continue my work. During this period of stay I received Canada Child … Continue reading Child Benefit and Tax Return Filing outside of canada

Can I pay my Canadian taxes without income in Canada?

Hello, I am Canadian Permanent Resident, but not living in Canada. I am an Indian Citizen. I landed in Canada on April, 2014 and stayed there for couple of weeks and returned and never returned back. I want to know, whether I can pay my Canada taxes with out no income in Canada. I’ve a … Continue reading Can I pay my Canadian taxes without income in Canada?

What are the rules around carrying forward unused cCA?

I would like to know the specific rules around carrying forward unused CCA. There is an option through Turbo tax to override the CCA you can claim for the year, so it can be carried forward, and I was told that when you file that amount is registered with CRA, and that you can carry … Continue reading What are the rules around carrying forward unused cCA?

What Rate To Charge World-Wide Customers Via Online Sales?

Hello Allan et al; I have not been able to find an answer to this question, so i very much appreciate your help and look forward to retaining your services in 2018 & beyond… Quick intro on myself. I just opened a Federal Numbered Corp, dual registered with Ontario. The business activities consist of selling … Continue reading What Rate To Charge World-Wide Customers Via Online Sales?

Can a non-capital loss for a certain year be carried forward?

Hello, I had a question on whether a non capital loss for a certain year can be carried fwd by skipping the immediate next year, to be applied 2 or 3 years after. For example, if I had a 10k non capital loss generates in 2010 and to be carried fwd. If I make $50k … Continue reading Can a non-capital loss for a certain year be carried forward?

First Year of Being Incorporated

Hello, I cannot seem to comment on the article on how to complete a corporation income tax return for business in Canada. I Appreciate all the info you have provided in the article and all the q&a’s in the comments. I had a question that many others asked as well regarding the first year of … Continue reading First Year of Being Incorporated

How much money does your small business need to generate before you can write stuff off?

I need to ask some question on how much money does your small business need to generate before you can write stuff off .

Buying Canadian Real Estate via Foreign company

Hi, I was wondering what are the limitation and taxation of buying RE via a BVI corp. As a non-Canadian. Thanks, Tomer

Canadian tax on consultancy contract with foreign Company

Hi Madan, A quick question which I suspect I already know the answer to but thought it worth asking. I worked under contract as a consultant (in Canada) for 6 years on a monthly retainer/salary paid by a Kuwait based and 100% Kuwaiti owned company – they were my sole client. All of my work … Continue reading Canadian tax on consultancy contract with foreign Company

Telecom communication services

Can you please advise is there any change to the place of supply rules for Telecom communication services? Basically I want to know how we charge hst/gst for 1. Service/Call originates in (starts in) Province 2. Service/Call terminates in (ends in) Province 4. Toll free service – Do we need to charge tax on it? … Continue reading Telecom communication services

Non-Resident US Return

Hello I’m a Canadian resident and citizen and I’m considering taking a consulting position with a US based firm. I have my permanent home in Toronto but would be commuting on a regular basis to work in the US. I watched some of your videos which I found helpful. I would appreciate any advice if … Continue reading Non-Resident US Return

If I wish to sell an Indian property and repatriate the funds back in Canada, what is the procedure?

I had purchased a home back in India in 2006 used for family and personal use and using funds I transferred from Canada to there. Since the cost amount then was around 85K CAD, I did not have to declare and file the 1135 form. If I wish to sell that property and repatriate the … Continue reading If I wish to sell an Indian property and repatriate the funds back in Canada, what is the procedure?

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