Archives: Questions

Question

i am running a salon out of my basement and was hoping to find out if I can include any of the costs to renovate my basement for the salon on my tax return?

Can basement renovation expenses be included on my tax return if I am running a salon from my basement?

resident vs. non resident

My daughter was born in BC years ago, later we moved to US for 10 Plus years. we have a condo in BC and rent out and rerport inocme for all of years. Both my husband and myself have not visit Canada for more than 10 years. My daugther get accepted university in BC. she … Continue reading resident vs. non resident

Super Visa Health Insurance for parent

Hi, I have purchase health insurance for my parents who visit me last year with super visa. Can I report that cost as my medical expense?

Do I need to file as Canadian resident if wife lives in Canada

We are all Canadian citizens. However, I live in the US with my 2 children (filing 1040 as head of household) while wife is working in Canada and visits us every 2 weeks. Wife rents out a place to live in Canada and she files her tax as Canadian resident. Do I need to report … Continue reading Do I need to file as Canadian resident if wife lives in Canada

Refundable dividend Tax on Hand (RDTOH)

My Corporation has RDTOH of $1,000 from 2015 T2 filing. In 2016, the Corporation has no business income but paid taxable dividend of $3,000 to the shareholders. What would the journal entries be and GIFI code to use when doing the SCH100 and SCH125, please? Will the Corporation get a cash refund of $1,000 upon … Continue reading Refundable dividend Tax on Hand (RDTOH)

Do I have to Pay Canadian Tax if I already paid foreign tax

Hi, I have been working in Indonesia, but I am a Canadian Resident for Tax Purposes. Canada does have a tax treaty with Canada. I tried to use turbotax to file my return for 2016. I claimed my total net income in Canadian Dollars of $328,000 and the total foreign tax I have already paid … Continue reading Do I have to Pay Canadian Tax if I already paid foreign tax

How to show foreign income before becoming resident of canada

My friend became Canadian resident in Sep 2016. He earned about $5000 while in India. Now for filing Canadian tax return for 2016 where does he show the salary income from India during the period before he became Canadian Resident.

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

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