All Questions
Tagged with canada income-tax
44
questions with no upvoted or accepted answers
8
votes
1
answer
418
views
Does Canada respect the tax-free status of National Savings certificates for residents who left the UK?
I know Canada and the UK have a tax treaty that is designed to prevent double-taxation. But I don't know if it extends to honouring the tax-free status of government-issued savings certificates.
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- 181
4
votes
0
answers
43
views
Reduce income tax payable in Canada for an individual taxpayer
For the 2023 tax year, in Canada, how can I reduce my personal taxable income/taxes payable on my T1 tax return? I know I can use my RRSP and a spousal RRSP as a deduction against taxable income up to ...
- 141
3
votes
0
answers
45
views
Tax deductible expenses in Canada when moving for work
My husband and I moved for work in Nov. 2022 from Ontario to BC. We own a home in Ontario which has been vacant since (could not be rented due to slow demand in winter time although we had been trying)...
- 175
3
votes
0
answers
70
views
Can I deduct expenses from rental income on my principal residence without making it not a principal residence?
TLDR: can I still claim 40% of all of these expenses (screenshot from simpletax) on my taxes when renting a portion of my Principal Residence and it still be considered principal residence? and ...
- 183
3
votes
0
answers
88
views
Client is offering to withhold tax from my payment
I recently started working in an arrangement neither me nor the person who hired me has done before. Someone who works as a contractor for a company got a budget to hire me as a (sub)contractor. He ...
3
votes
0
answers
88
views
What's wrong with transferring $12,000 from RRSP to RRIF and withdraw $2000/yr 65-71 inclusive? Why doesn't this give you $12000 out RRSP tax-free?
I live in ON. Jim Yih wrote Are You Taking Advantage of the Pension Income Tax Credit?
Transfer RRSP to a RRIF. At age 65 transfer $12,000 to a RRIF and take $2000 out per year from age 65 to 71(...
user11761
3
votes
0
answers
166
views
Will I get trouble with CRA, if I withdraw yearly maximum Capital Gain without paying tax in ON for many years?
Assume I get 0 income and my Capital Gain doesn't fall. I live in ON. Call F the maximum federal ($12069 in 2019), and P the maximum provincial ($10582 in 2019) basic personal amounts. Retirement ...
user11761
3
votes
0
answers
98
views
Does money spent from lawsuits get reported in tax?
I had the unfortunate experience of taking my landlord to court. We eventually reached a settlement where I got some money. I strongly believe I should have gotten more and have evidence to support ...
- 264
3
votes
0
answers
119
views
Is there a way to transfer a cultural donation tax receipt? (Canada)
Canada specific question.
My father is planning on making a cultural donation to a museum. He will receive a 100K tax receipt for the donation. My marginal tax rate is significantly higher than his, ...
- 2,592
3
votes
0
answers
127
views
Can construction Soft Costs be carried forward on Canadian rental income?
I built a home and am renting it out for profit. While building, I incurred soft costs (mainly interest costs on money borrowed during construction, and insurance costs). In the years that I had these ...
- 31
3
votes
0
answers
198
views
Moving from Canada to the U.S.: Where will I be considered resident for tax purposes?
In 2018 in the summer, I'm planning to move from Canada to the U.S. I'm a citizen of Ukraine.
I would spend more than 183 days in Canada in 2018 and have an employer, but by the end of the year I ...
- 81
3
votes
0
answers
1k
views
What will happen if you filed your taxes with two different locations? How can it be solved?
I was living in Winnipeg, Manitoba and I had done my taxes online with H&R Canada Online. H&R Canada provided me with some papers to print out and then it was settled, I moved to Sudbury, ...
- 31
3
votes
0
answers
4k
views
Is it true that as long as you are on a TN visa you have to file taxes in Canada as residents?
My husband has been working in the USA on a TN visa since August 2012. Me and my son moved to USA in August 2014. My husband has been filing taxes in the US as a non-resident and in Canada as a ...
- 31
2
votes
0
answers
98
views
Tax obligations for deemed non-residents in Canada
I live (and I'm resident) in a European country (Austria, that has a tax agreement with Canada) and spent 8 months in Canada last year (2022) due to a research stay (I worked on my Master Thesis in a ...
- 230
2
votes
0
answers
37
views
I get a pension from having been a Federal Employee; I also work part-time for my family's business. Do I need to pay into EI?
So, I worked for the Federal government most of my life, I retired 2 years ago and I get my pension. In addition, I work about 30 hrs/week in the office of my family's business, do I have to pay EI? ...
- 21