Questions tagged [canada-revenue-agency]
The canada-revenue-agency tag has no usage guidance.
100
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Setting up a personal loan, how do I report to CRA?
I am about to make a simple loan to a family member. I have a contract written up, and a payment schedule that we will both sign as well, along with a witness.
While the interest rate I am charging ...
- 961
2
votes
1
answer
126
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Canada: Taxes for income generated from pre-immigration work
I called the CRA many times regarding my question but I wasn't able to get an answer and they kept redirecting me to different people and departments.
I am now a PR in Canada, Before coming to this ...
- 23
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1
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83
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Accumulated NRE balance before acquiring Canadian Permanent Residence
I am an Indian national working in Singapore for past 15 years as Permanent Resident. Recently got Canadian PR.
I have a huge amount of S$ in my Singapore CPF account and as Fixed deposits in India ...
- 21
3
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1
answer
189
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How are dividends on US stocks treated by the CRA?
As an American living in Canada I have some stocks in a US account and they paid dividends this year. On the 1099DIV there are values for boxes:
1a. Total Ordinary Dividends
1b. Qualified Dividends
...
- 419
7
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2
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306
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Are you required to pay the full tax on income if your employer doesn't pay what they claim to?
About 6-7 months ago, a friend of mine got a job with the Canadian Government at an hourly rate. However, due to the Phoenix system debacle, he wasn't being paid for his work.
This problem has ...
- 73
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1
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447
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Does the CRA reprieve those who have to commute for work?
Suppose that for some reason (family connections, unaffordability, ...) someone lives in a town a train ride away from one of Canada's expensive cities (Toronto, Vanvouver).
He makes most or all of ...
- 161
1
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0
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46
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Canadian income tax for foreign worker who moved back home during 2016
I'm an Australian who lived in Canada (specifically Saskatchewan) for two years, working at a university. I moved back to Australia on December 13th 2016 (when my contract ended).
For my 2015 tax ...
- 11
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1k
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Is forex spread betting legal and/or taxed in Canada?
I have some questions regarding forex spread betting in Canada.
1) Is spread betting legal in Canada?
I have found a few unofficial sources that say spread betting is legal in Canada, however I was ...
- 121
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46
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Do part-time courses count as tuition for tax purposes for a work permit holder?
My wife is not a Canadian citizen. As her permanent residence application is in process, she has been given a 2-year open work permit, and she used it to work during the 2016 tax year.
Her conditions ...
- 140
0
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1
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123
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Paying taxes on an inherited Canadian TFSA? (Successor holder case)
I read this interesting article about Questions about TFSA and I contrasted the information with CRA's website about successor holder.
As far as I understood, when the original holder's TFSA pass ...
- 207
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In a Canadian TFSA, does interest earned within the account count toward the contribution limit?
I know that there is a limit in the contribution per year in a TSFA. At the moment (2016), if you have never made a contribution then you can contribute around $ 46 500.
BUT, even though all ...
- 207
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870
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Capital Gain or Loss Calculation for Mergers & Acquisitions (Canada)
I have a question about calculating capital gains/losses for mergers and acquisitions in which fractional shares and cash are provided as part of the transaction. What part should be listed as capital ...
- 436
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2
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555
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Can I withdraw money from my rrsp if I made excess contribution by mistake?
If by mistake, I exceed the contribution limit to my RRSP, can I withdraw it from my RRSP, to avoid paying penalty?
e.g Let us say my RRSP room is 18k, but I contributed 22k, so any contribution in ...
- 16k
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1
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95
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To know if you have filed taxes before in Canada?
I am in Canada, I recently filed my taxes with HR block I was supposed to get close to $3500 back accord to HR Block because I hadn't filed for two years(at least I am 95% sure I have).
I just got a ...
- 11
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580
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Can you combine multiple rental incomes and expenses for tax purposes in Canada?
I have been reporting my rental properties income and expenses separately using tax filling program called GenuTax.
It's rather time involved, to simplify things I am wondering if it is possible to ...
