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Hi Sarah, Thank you for your kind message. In practice, there is no fixed number of “secondary ties” that automatically tips the scale. CRA look...
Hi Joan, Whether the GIC interest is taxable in Canada depends mainly on your Canadian tax residency status, not just your visa or immigration stat...
Hi Nick, Thanks for the detailed facts. There are a few moving pieces here, but the key point is this: A) Departure return (2021): likely no tax...
Hi Janiscra, Sorry to hear about your loss. Based on what you shared, here’s the usual CRA filing roadmap in this situation (non-resident parent wh...
Hi SNB, Thank you for your question. From an accounting and bookkeeping perspective, the CRA dividend refund (i.e., a refund arising from RDTOH) sh...
Hi Greg, Thanks for your question. The key issue here is beneficial ownership, not just whose name is on title. 1) Was the property “yours” for ...
Hi Ms. M, Yes, in most cases you can deduct the costs you incurred to earn the income shown on the T4A, so you’re generally taxed on your net profi...
Hello Mr. Sundar, Thank you for your message, and congratulations to you and your wife on your upcoming move back to India. Please note the comm...
Hi Jeff, sorry for your loss. A couple of key points to clear up, because the “no filing/no tax unless you sell or rent” answer is often not correc...
Hi Rohith, Based on the facts you’ve outlined, filing T1 adjustments (T1-ADJ) for 2021–2024 is the more appropriate and proportionate approach, rat...
Hi Rim, This is a very common situation, and you are right to think about it before selling rather than after. 1. How CRA determines the capital...
Hi Kim, my condolences on your loss. From a Canadian tax perspective, a life insurance death benefit is not taxable in Canada, even if you are now ...
Dear Satinder, Thank you for your question regarding the rental property you own jointly with your daughter. You’re right to review this carefully,...
Hi Anthony, Good questions. This situation is very common when sales drop during the year. 1. Do you still need to pay the 4th instalment if you...
Hi Luke, Yes, as a non-resident of Canada, you can delay starting Old Age Security (OAS), and in your situation that is often a very sensible plann...