Questions tagged [canada-revenue-agency]
The canada-revenue-agency tag has no usage guidance.
100
questions
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
1
answer
79
views
Canadian FHSA to RRSP after 15 years
I am a Canadian Resident Tax Payer.
I regularly max out on my RRSP contribution room.
I never owned a home, I have been renting because I move around a lot because of work (Canada & USA).
I am ...
1
vote
1
answer
65
views
What time period determines the long-term capital gains tax for foreign individuals in Canada?
Let's say I am either a resident of the US or Mexico. If I have a stock I have held for more than 12 months while abroad, and then sell it within the first week of my arrival in Canada, would it be ...
- 1,570
3
votes
1
answer
164
views
Payments to CRA don't count toward your balance with CRA until you file your taxes?
I had a lot going on in the past year, so instead of filing my 2021 taxes on time, I paid what I thought was likely to be in excess of what I would owe. I did this before the filing deadline.
I just ...
- 173
1
vote
1
answer
553
views
Rental income: What distinguishes co-ownership from partnership?
I own a condo unit with siblings, which we rent out. The unit was purchased for eventual habitation by parents, when they are older and need to be close. We are still paying mortgage on it.
Canada ...
- 173
3
votes
2
answers
990
views
How do I contact the IRS about my tax return from a non-US phone number?
I am a Canadian living in the US temporarily. I filed my taxes and got my tax return, but the Canada Revenue Agency (CRA; the Canadian equivalent of the IRS), requires that I get some "proof"...
- 151
3
votes
1
answer
384
views
Is a depreciation claim on a rental property basically always worth it in Canada, given stable income?
As I understand it, in Canada (unlike the US) there is some freedom in how much depreciation expense you can claim for a rental property every year, from 0 all the way up to 4% of the yet-...
- 153
3
votes
1
answer
128
views
Is the RRSP Contribution period 12 months or 14 months?
Assuming a clean slate (i.e. no carry-forward contribution room) I always thought the one could make their RRSP contribution any time within the calendar year + 60 days after the end of the year.
If ...
- 312
1
vote
1
answer
138
views
How much must one pay tax in Canada if received income from Switzerland?
I am a Canadian Citizen, who lived and worked in Switzerland for a full year. During that time, my only source of income was the company I was working for there. Swiss government deducted a particular ...
user68310
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.
...
- 181
2
votes
2
answers
462
views
What happens if I don't claim all installment payments on my Canadian income tax return?
The Canadian income tax return line 47600 is for "tax paid by installments".
Assuming I overpaid, if I enter less than the amount I actually paid (making the total owed or refunded be zero), ...
- 1,566
1
vote
1
answer
141
views
Canadian Taxes: Can I claim the full flat rate (currently $23) for a meal even if the meal costs less?
Here's the link to the CRA website but it doesn't seem to specify this. It seems to say $23 but I am not clear on this and it would seem odd to me to claim $23 for a $10 meal. Thanks in advance.
https:...
- 11
1
vote
0
answers
71
views
Paying tax on rental property in UK as a Canadian resident
We left the UK in 2013 and have rented our apartment to friends and family ever since.
We make almost no money from the rental, it barely covers costs and have had to pay out for repairs since we have ...
- 11
0
votes
2
answers
942
views
What are the risks for a Canadian opening a Delaware corporation?
I am a Canadian, living in Canada, born in Canada to one Canadian and one Canadian/American parent, which makes me an American "Person". This means I am responsible for filing and paying ...
- 109
3
votes
1
answer
107
views
I'm being asked for installment tax payments, though I'm a salaried employee. How do I make the notices stop?
I'm in Canada.
For the past several years, I worked as a freelance contractor. Since January, I have held a full-time position.
I'm certain that I don't owe any income tax. My pay is subject to hefty ...
- 316