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Hi Marie, Thank you for your message. Yes, we can assist you with this matter. Based on the facts you provided, you are a non-resident of Canada...
Hi, Thank you for your question. Based on the facts provided, the Small Business Deduction should apply only for the period during which the cor...
Hello Anonymous, This is a very good question, because a Canadian corporation owned by U.S. residents can trigger U.S. controlled foreign corporat...
Hi Julie, Thank you for contacting me. Based on what you described, I can assist you with determining your Canadian non-resident status and the ...
Hi Ashok, Thank you for your message. Assuming you are referring to your RRSP account, options trading may be permitted, but it depends on the t...
Hi Luke, Thank you for contacting us. As a U.S. citizen who worked in Canada for approximately 5–6 weeks and had Canadian tax withheld from your...
Hi Puzzle, Yes, your 2026 Canadian tax return would generally be filed as a departure return, showing your date of departure from Canada. On this r...
Hi Omar, Thank you for your question. Whether you became a non-resident of Canada in July 2016 depends on the facts, especially whether you seve...
Hi, Thank you for your question. In general, Canadian segregated funds held inside an RESP can be treated as PFICs for U.S. tax purposes where t...
Hi Dennis, Yes, generally you should report the T4RSP slip and then claim the offsetting deduction using Form T746, assuming the withdrawal relates...
Hi Max, Thank you for your question. Canadian tax residency is based on your residential ties to Canada, not simply your permanent resident stat...
Hi, Thank you for your message. Based on the facts you shared, it appears that you may need to file both a Canadian tax return and a U.S. tax re...
Hi Peace, This can be a useful planning idea, but it needs to be handled carefully. From the Canadian tax side, a direct transfer from an FHSA t...
Hi Sergey, In general, an RRSP can hold certain option strategies, but there are important limits. A covered call is generally viewed as more ac...
Thank you for your question. Based on the facts provided, this is likely something that should be corrected proactively. Since you missed reporting...