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Sell the property before you come back to Canada permanently in order to avoid Canadian capital gains tax, or transfer the property to a family member...
Your husband will continue to be a factual resident of Canada, because his spouse and children are living in Canada. As such, he will have to report ...
A corporate employer can make a loan to an employee to purchase a vehicle to be used by the employee for business purposes. The prescribed rate of in...
The answer depends on the type of income being earned in Canada by the non-resident of Canada. See below the tax deductions available to a non-reside...
Good question. If the funds are gifted by you to your wife prior to becoming a resident of Canada, then I suspect that the CRA would not be able to i...
In this case, the corporation (that owns the property) does not qualify for the principal residence exemption and so when the property is sold in the ...
Hello, You can file a US Return - 1040 - married filing separately. This may be a better option, because if you elect to file jointly with your spous...
If the cost amount (i.e. amount paid upon purchase) of the ETF units in the US that you own is more than $100,000 Canadian dollars, then you need to c...
Report the business income earned from freelance work for Canadian customers on your US tax return (1040). This is because, pursuant to the US-Canada...
As a factual resident of Canada, you are required to report your worldwide income to the CRA and pay Canadian income taxes. You should have a tax bal...
Form T1135 must be filed by Canadian residents if the total cost amount of their foreign assets is $100,000 or more at any time in the tax year. Fore...
Hi there, Withholding tax should have been deducted from the CPP payments made to you since you are a non-resident of Canada. In some cases, a doubl...
You will not save tax by earning investment income through a Canadian corporation. Canadian corporations are taxed at the highest rate (approximately...
Hi Ankit, Thank you for your questions. Yes, you will remain a factual resident of Canada and you will be liable for Canadian income tax on your worl...
Since the 2 companies are associated (they are both owned by you), they will affect each other. If the total passive income of all commonly controlle...