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You can immediately use the money received via gift to purchase a home, and there is no waiting period for tax purposes. The bank can ask you for the...
Yes, prepare a gift letter as you suggested. It should be witnessed by a third party, signed by you, your brother, and signed by a notary public. In...
If she plans on staying in the UK for the foreseeable future, then she is likely a resident of the UK and non-resident of Canada for tax purposes. Th...
It appears that you became a resident of Canada when you moved to Canada in 2012 on a work-visa. This is because you remained in Canada full-time fro...
If you sell the Indian property prior to coming back to Canada, then the cash received from the sale and transferred to a Canadian bank account will n...
The benefit of incorporating a company to hold rental properties is that a corporation will provide you with liability protection. The disadvantage i...
So long as you had no primary ties to Canada, minimal secondary ties to Canada, and you lived in Qatar with your family for the past 3 years, you and ...
Thank you for your questions. My answers are below: 1) You will not pay capital gains tax on the sale of your primary residence so long as you liv...
Consider forming a US LLC to sell goods and services to American customers, after you leave Canada and become a non-resident of Canada for tax purpose...
Individual taxpayers must report employment income in the year that the income is received. In theory, you can ask your employer to defer the payment...
No, you should not do that. It could trigger a tax audit. The right procedure is to amend the prior year's corporate tax return with the correct inf...
Generally speaking, the US-Canada tax double taxation treaty is more favorable than the Indian-Canada double taxation treaty.
Since you are a US Green Card Holder, you have to report all income and gains from Canadian investments to the IRS, and pay US income/capital gains ta...
Either you, your spouse, common-law partner, or dependent child must live in the condo in order for you to avoid paying back the HST rebate on closing...
If you are a Canadian resident and want to conduct an active business in the US, then the best structure is as follows: - A Canadian corporation (par...