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            <title>
									Madan CPA Forum - Recent Topics				            </title>
            <link>https://madancpa.beautybrandbuilders.co/learn/</link>
            <description>Madan CPA Discussion Board</description>
            <language>en-US</language>
            <lastBuildDate>Sat, 06 Jun 2026 00:24:16 +0000</lastBuildDate>
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							                    <item>
                        <title>Prorated Small Business Deduction (SBD) in short taxation year + CCPC status change</title>
                        <link>https://madancpa.beautybrandbuilders.co/learn/canadiantaxforum/prorated-small-business-deduction-sbd-in-short-taxation-year-ccpc-status-change/</link>
                        <pubDate>Tue, 26 May 2026 04:20:35 +0000</pubDate>
                        <description><![CDATA[My corporation previously had a fiscal year from March to February. CRA has approved a change to a calendar year-end, so we will have a short taxation year from March 1, 2025 to December 31,...]]></description>
                        <content:encoded><![CDATA[My corporation previously had a fiscal year from March to February. CRA has approved a change to a calendar year-end, so we will have a short taxation year from March 1, 2025 to December 31, 2025, and thereafter future years will be January–December.
However, my corporation also became a non-CCPC effective July 1, 2025.

I am trying to understand how the small business deduction (SBD) limit is prorated in this situation.
Specifically:
Is the SBD limit for the short year (Mar 1 – Dec 31, 2025) prorated based on the full short taxation year length (March to December)?
Or is it effectively only prorated for the period the corporation was a CCPC (i.e., March 1 – June 30, 2025, when it was still CCPC), since after July 1 it became a non-CCPC?
In other words, does the SBD apply only up to the date CCPC status ends, or for the entire short taxation year?

Thank you for your guidance]]></content:encoded>
						                            <category domain="https://madancpa.beautybrandbuilders.co/learn/"></category>                        <dc:creator>Anonymous</dc:creator>
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				                    <item>
                        <title>Request for Advice Regarding CPP Survivor Pension and Tax Refund</title>
                        <link>https://madancpa.beautybrandbuilders.co/learn/canadiantaxforum/request-for-advice-regarding-cpp-survivor-pension-and-tax-refund/</link>
                        <pubDate>Sat, 23 May 2026 10:52:26 +0000</pubDate>
                        <description><![CDATA[Hello Sir,

I hope you are doing well. I would like to ask for professional advice regarding my situation as a non-resident receiving a CPP Survivor’s Pension from Canada.

I am a Filipi...]]></description>
                        <content:encoded><![CDATA[Hello Sir,

I hope you are doing well. I would like to ask for professional advice regarding my situation as a non-resident receiving a CPP Survivor’s Pension from Canada.

I am a Filipino resident and have never been to Canada. I am also a widow, and currently my only source of income is my CPP Survivor’s Pension. At the moment, I do not have a stable job and mainly rely on this pension for support.

I started receiving the pension in 2024. In 2025, I applied for an NR5 application and later received correspondence stating that it was approved with a 0% withholding tax rate. However, until now, 25% tax is still being withheld from my monthly pension payments.

I would also like to ask about filing under Section 217. Since I only started receiving the pension in 2024, I am wondering if it is still possible to file a 2024 Section 217 return even if it may already be considered late.

Because the 25% tax was withheld at source from my pension, I would like to know if I may still qualify for a tax refund, especially considering my low income and non-resident status.

I would sincerely appreciate your advice regarding:

- Whether I can still file a Section 217 return for 2024
- Whether I may qualify for a refund of the taxes withheld
- Why the approved 0% NR5 rate may not yet be reflected on my pension payments
- What steps I should take moving forward

Thank you very much for your time and assistance. I truly appreciate any guidance you can provide.

Sincerely,
Marie]]></content:encoded>
						                            <category domain="https://madancpa.beautybrandbuilders.co/learn/"></category>                        <dc:creator>Anonymous</dc:creator>
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                    </item>
				                    <item>
                        <title>High-Tax Exclusion for Canadian Corporation Income</title>
                        <link>https://madancpa.beautybrandbuilders.co/learn/canadiantaxforum/high-tax-exclusion-for-canadian-corporation-income/</link>
                        <pubDate>Wed, 20 May 2026 20:13:56 +0000</pubDate>
                        <description><![CDATA[I have a question regarding U.S. Form 5471 and the GILTI/subpart high-tax exclusion.

If a Canadian corporation(non-ccpc with 100% share holders are US residents) is earning investment inc...]]></description>
                        <content:encoded><![CDATA[I have a question regarding U.S. Form 5471 and the GILTI/subpart high-tax exclusion.

If a Canadian corporation(non-ccpc with 100% share holders are US residents) is earning investment income (e.g., GIC interest ~20K per year) and is already being taxed in Canada at an effective rate of roughly ~50%, would that income generally qualify for the U.S. high-tax exclusion (&gt;18.9% effective tax rate)?

In other words, can the high Canadian corporate tax rate effectively eliminate the GILTI/subpart inclusion for that income under the tested unit rules, or are there situations where it would still be included?]]></content:encoded>
						                            <category domain="https://madancpa.beautybrandbuilders.co/learn/"></category>                        <dc:creator>Anonymous</dc:creator>
                        <guid isPermaLink="true">https://madancpa.beautybrandbuilders.co/learn/canadiantaxforum/high-tax-exclusion-for-canadian-corporation-income/</guid>
                    </item>
				                    <item>
                        <title>I have nothing in canada except for my canadian bank acct. Living in the US presently, how can i declare as non resident of canada</title>
                        <link>https://madancpa.beautybrandbuilders.co/learn/canadiantaxforum/i-have-nothing-in-canada-except-for-my-canadian-bank-acct-living-in-the-us-presently-how-can-i-declare-as-non-resident-of-canada/</link>
                        <pubDate>Sun, 03 May 2026 21:59:46 +0000</pubDate>
                        <description><![CDATA[I would like to declare as non-resident of Canada. I am a canadian citizen and a green card holder of US. I have no ties in Canada except for my canadian bank acct. I would like to know if I...]]></description>
                        <content:encoded><![CDATA[I would like to declare as non-resident of Canada. I am a canadian citizen and a green card holder of US. I have no ties in Canada except for my canadian bank acct. I would like to know if I can receive CPP and OAS. I have lived in Canada for over 35 yeard. If you are able to help me how much would this service cost?]]></content:encoded>
						                            <category domain="https://madancpa.beautybrandbuilders.co/learn/"></category>                        <dc:creator>Anonymous</dc:creator>
                        <guid isPermaLink="true">https://madancpa.beautybrandbuilders.co/learn/canadiantaxforum/i-have-nothing-in-canada-except-for-my-canadian-bank-acct-living-in-the-us-presently-how-can-i-declare-as-non-resident-of-canada/</guid>
                    </item>
				                    <item>
                        <title>options trading using investments in my NRSP account.</title>
                        <link>https://madancpa.beautybrandbuilders.co/learn/canadiantaxforum/options-trading-using-investments-in-my-nrsp-account/</link>
                        <pubDate>Sat, 02 May 2026 13:02:40 +0000</pubDate>
                        <description><![CDATA[Can I do options trading using investments in my NRSP account.]]></description>
                        <content:encoded><![CDATA[Can I do options trading using investments in my NRSP account.]]></content:encoded>
						                            <category domain="https://madancpa.beautybrandbuilders.co/learn/"></category>                        <dc:creator>Anonymous</dc:creator>
                        <guid isPermaLink="true">https://madancpa.beautybrandbuilders.co/learn/canadiantaxforum/options-trading-using-investments-in-my-nrsp-account/</guid>
                    </item>
				                    <item>
                        <title>US citizen worked one month in Canada, how do I get my withholding tax back?</title>
                        <link>https://madancpa.beautybrandbuilders.co/learn/canadiantaxforum/us-citizen-worked-one-month-in-canada-how-do-i-get-my-withholding-tax-back/</link>
                        <pubDate>Fri, 01 May 2026 00:00:40 +0000</pubDate>
                        <description><![CDATA[Hi - I am a US citizen who worked on a project in Canada for about 5-6 weeks.  I had 10k withheld from my pay, for CA taxes.  I understand that I am eligible to apply to have that 10k refund...]]></description>
                        <content:encoded><![CDATA[Hi - I am a US citizen who worked on a project in Canada for about 5-6 weeks.  I had 10k withheld from my pay, for CA taxes.  I understand that I am eligible to apply to have that 10k refunded to me, but am not sure what needs to be done.  I did receive an income form from Canada for tax purposes, but have never filed anything in CA.  I appreciate the help!  Thank you!]]></content:encoded>
						                            <category domain="https://madancpa.beautybrandbuilders.co/learn/"></category>                        <dc:creator>Anonymous</dc:creator>
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                    </item>
				                    <item>
                        <title>How to report non-tax resident Canadian Income on Final tax return before leave Canada</title>
                        <link>https://madancpa.beautybrandbuilders.co/learn/canadiantaxforum/how-to-report-non-tax-resident-canadian-income-on-final-tax-return-before-leave-canada/</link>
                        <pubDate>Thu, 30 Apr 2026 20:52:12 +0000</pubDate>
                        <description><![CDATA[I left Canada in Jan, 2026  and I am non-tax resident from Feb, 2026 for Canada. I will need to report Canadian sourced income from Feb to Dec 2026 as non tax resident. Knowing I need to fil...]]></description>
                        <content:encoded><![CDATA[I left Canada in Jan, 2026  and I am non-tax resident from Feb, 2026 for Canada. I will need to report Canadian sourced income from Feb to Dec 2026 as non tax resident. Knowing I need to file my final return for 2026 with a departure date, do I report the non-tax resident income on the final return of 2026. I am a tax resident just for Jan, 2026. Should I mix both tax resident income and non tax resident income? Do I report the departure tax in my final tax return as well.
If Financial institution does not withhold tax, what is the way to repay the withholding tax to cra?]]></content:encoded>
						                            <category domain="https://madancpa.beautybrandbuilders.co/learn/"></category>                        <dc:creator>Anonymous</dc:creator>
                        <guid isPermaLink="true">https://madancpa.beautybrandbuilders.co/learn/canadiantaxforum/how-to-report-non-tax-resident-canadian-income-on-final-tax-return-before-leave-canada/</guid>
                    </item>
				                    <item>
                        <title>Left Canada permanently on 2016 but did not notify cra</title>
                        <link>https://madancpa.beautybrandbuilders.co/learn/canadiantaxforum/left-canada-permanently-on-2016-but-did-not-notify-cra/</link>
                        <pubDate>Wed, 29 Apr 2026 20:17:27 +0000</pubDate>
                        <description><![CDATA[Hi Allen,I am single and I left Canada permanently on JULY 2016 but did not notify CRA that I am immigrating to the UAE Dubai.I did not file a departure tax either. When I left Canada in 201...]]></description>
                        <content:encoded><![CDATA[Hi Allen,I am single and I left Canada permanently on JULY 2016 but did not notify CRA that I am immigrating to the UAE Dubai.I did not file a departure tax either. When I left Canada in 2016 I had no income or house. All that I had 2 checking bank accounts with very small balance and a used car that I sold for $1000. I am returning this year soon to Canada are there any tax implications or penalties? Am I considered non resident for tax purposes when I left Canada thanks]]></content:encoded>
						                            <category domain="https://madancpa.beautybrandbuilders.co/learn/"></category>                        <dc:creator>Anonymous</dc:creator>
                        <guid isPermaLink="true">https://madancpa.beautybrandbuilders.co/learn/canadiantaxforum/left-canada-permanently-on-2016-but-did-not-notify-cra/</guid>
                    </item>
				                    <item>
                        <title>PFIC reporting for RESP seg funds</title>
                        <link>https://madancpa.beautybrandbuilders.co/learn/canadiantaxforum/pfic-reporting-for-resp-seg-funds/</link>
                        <pubDate>Tue, 28 Apr 2026 21:27:48 +0000</pubDate>
                        <description><![CDATA[I’m a U.S. person (tax resident/filer) with Canadian RESP investments (~$43K CAD total, jointly with spouse). The RESP holds segregated funds(no separate distribution as per the monthly stmt...]]></description>
                        <content:encoded><![CDATA[I’m a U.S. person (tax resident/filer) with Canadian RESP investments (~$43K CAD total, jointly with spouse). The RESP holds segregated funds(no separate distribution as per the monthly stmt)

I’m trying to understand PFIC reporting requirements (Form 8621) in my situation.

A few specific questions:

- Are Canadian segregated funds inside an RESP generally treated as PFICs for U.S. tax purposes?
- Is there any practical de minimis or administrative relief where Form 8621 is not required if:
no distributions are received, and
no units are sold/redeemed?
- Does the total account size (~$43K CAD) have any relevance at all(below threshold), or is PFIC reporting strictly per fund regardless of value?

Thanks in advance]]></content:encoded>
						                            <category domain="https://madancpa.beautybrandbuilders.co/learn/"></category>                        <dc:creator>Anonymous</dc:creator>
                        <guid isPermaLink="true">https://madancpa.beautybrandbuilders.co/learn/canadiantaxforum/pfic-reporting-for-resp-seg-funds/</guid>
                    </item>
				                    <item>
                        <title>Am i obligated to file 2025 Tax return</title>
                        <link>https://madancpa.beautybrandbuilders.co/learn/canadiantaxforum/am-i-obligated-to-file-2025-tax-return/</link>
                        <pubDate>Tue, 28 Apr 2026 15:21:04 +0000</pubDate>
                        <description><![CDATA[Hi Mr. Madan,

I am a newcomer and confused about my tax obligations and situation.
I became a PR in 2024 and soft-landed (This is a brief, initial visit to Canada by a new Permanent Resi...]]></description>
                        <content:encoded><![CDATA[Hi Mr. Madan,

I am a newcomer and confused about my tax obligations and situation.
I became a PR in 2024 and soft-landed (This is a brief, initial visit to Canada by a new Permanent Resident (PR) to activate their status before their Confirmation of Permanent Residence (CoPR) expires, without immediately moving permanently). I spent 29 days in 2024 during my stay and returned back to home country.

In early 2025, I visited again and in total I spent 53days and returned back to home country. Then on December 28th 2025 I arrived and I have been here since then. Other facts about my situation;

-I am single
-When I soft landed in 2024, I opened 2 bank account and 1 in 2025 and made deposits to the accounts.
-The banks sent me T5
-In all my recent visits to canada I didn’t establish any significant tie because I never had a home here(stayed in Airbnb and shortlets),spouse or dependent.
—I rented my first apartment ending of march 2026.
—I haven’t started work here yet in canada and so do not have any other income to report for 2025.
 

Now my questions

1. Am I obligated to file 2025 taxes.
2. If I’m not what will happen regarding the T5 that the banks sent to me.
3.If I’m obligated or decided to file 2025 taxes how do I report the T5, since I wasn’t a tax resident most part of 2025 and only arrived Dec. 28th ( That makes it  just 4 days officially in 2025 if I decide to use Dec. 28th as my date of entry in Canada, Even though i just rented my own home in march 2026, which I think is the time I established a significant tie as a tax residence)
4.If filing for 2025 taxes, What date should I use for DATE OF ENTRY IN CANADA, does it have to be the date I arrived at the airport ?  Even though I flew in on dec 28th, I still did not have a significant residential ties with Canada  because I arrived at an Airbnb and just only rented an apartment in march.
5. What benefits can I apply for as a new comer.

Thank you do much for your time, I really do appreciate it.
Best regards,
Max James]]></content:encoded>
						                            <category domain="https://madancpa.beautybrandbuilders.co/learn/"></category>                        <dc:creator>Anonymous</dc:creator>
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