All Questions
66
questions with no upvoted or accepted answers
5
votes
0
answers
103
views
What taxes does an Eritrean-American-Canadian citizen Canadian resident pay first?
I am a Canadian born to an American-born Canadian father and an Eritrean mother. We live in Canada, where I was born. I am a citizen of all three countries mentioned.
Because of insane laws, I am ...
5
votes
0
answers
99
views
I'm a Canadian citizen and now a US resident. How do I close my Canadian RRSP and TFSA?
I am a Canadian citizen who moved to the US in 2009. I am now a US resident and Canadian non-resident. I still have a Canadian RRSP, TFSA, and bank account. I've filed FBARs since becoming a US ...
- 51
4
votes
0
answers
118
views
What's the tl;dr investing rules for married Canadian citizens when one partner happens to have US citizenship?
Canadians with US citizenship have several things to consider regarding investments:
Canada's Tax-Free Savings Account (TFSA) is not considered tax free by IRS, and filing taxes may significantly ...
- 141
4
votes
0
answers
290
views
Inheriting funds from a U.S. trust where you are not the trustee
I am a U.S. citizen trustee and executor of my mom's trust. My brother is a Canadian citizen and lives in Canada and not a trustee. I will be dividing the trust funds or investments between the two ...
- 41
4
votes
1
answer
596
views
Salary vs. dividend when a company is closing down?
Let's say I have a small business that has been in operation for 10 years and it no longer makes any money. I've told all my customers that we will no longer take on any new business. So for the ...
- 839
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
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
603
views
How are US Health Saving Account (HSA) taxed in Canada for a Canadian citizen, not a US citizen?
The HSA in question is founded while legally working in the US and being a US tax resident. However, I'm thinking of coming back to Canada.
Are they just considered as a normal account? Therefore, ...
3
votes
0
answers
140
views
Are cash gifts from a former employer taxable in Canada?
I was previously employed by an elderly couple providing in-home care for several years. The husband passed away a number of years ago, while the wife passed away last year. Obviously, as the couple ...
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
397
views
Am I supposed to get "GST/HST credit" cheques even if I have substantial savings abroad?
I have moved to Canada, Nova Scotia about a year ago, so I filed my first tax return (2017) already. Long story short, I lived the entire year out of my own savings - there was no income and no ...
- 131
3
votes
0
answers
73
views
Taxes and Visa Implication: Canadian citizen, Canadian payroll, working M-F in US
Tried to skim through all existing questions, but couldn't find a match to my situation - so any help or input appreciated.
I'm looking at a possible scenario where I'm on the Canadian payroll (with ...
- 31
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
1
answer
176
views
Looking to calculate expected profit from sale of house
I'm trying to calculate the money I will see as profit from the sale of my house.
I'm tallying the various expenses associated with selling and would like input on any costs I'm missing. I'm in ...
- 39
2
votes
0
answers
97
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