All Questions
8
questions
0
votes
1
answer
166
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Cross border gifting (US and Canada)
I wanted to know what's the tax implication if I am a US citizen gifting money to someone in Canada who is neither a Canadian nor a US citizen. Does the gift tax applies?
Share your resources please.
...
- 1
7
votes
1
answer
3k
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Can I pay my partner’s income tax (Canada)
I net approx. twice what my spouse does. At income tax time can I pay her income tax for her so she has more money to invest in her retirement savings account (RRSP)?
I know that if I were to give her ...
- 2,592
0
votes
2
answers
1k
views
Does Meghan Markle need to pay taxes for her stay at a billionaires house?
According to reports, Meghan Markle is receiving free accommodations at the home of a Canadian businessman.
Assuming this is true, and given Meghan is a US citizen, and considering the fair market ...
- 1,290
3
votes
0
answers
140
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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 ...
1
vote
0
answers
218
views
Family member wants to gift me money from an account in a different country
Years ago my mother invested some money I made doing some acting as a kid in a bank account in New Zealand under her name. Both her and I live in Canada. We are both also Canadian/New Zealand Citizens....
- 191
4
votes
1
answer
289
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Principal Residence & no gifting tax = loophole? (Canada)
Here is a hypothetical scenario I was discussing with someone today that I think seems fishy, but I can't find much info on.
An adult gives money to his 20 year old kid to buy a house as a gift.
The ...
- 41
30
votes
1
answer
16k
views
I am a Canadian resident who wants to gift my Adult US child CAD$175K. What are the tax implications?
I am a Canadian resident who wants to gift my adult US child $175K Canadian. What are the tax implications for the US resident who resides in California?
- 271
3
votes
3
answers
397
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What are the rules for gifting for a couple when one is a U.S. citizen & the other a Canadian?
If one spouse is American and the other Canadian, what are the gifting rules for this couple? Is the couple still limited to 26,000 or can they specify that the American is gifting 13,000 and the ...
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