Search results

I don't agree. From the information provided the OP was a factual resident up to August 2011 therefore he cannot be a deemed resident for the year. The question is did he cease to be a factual resident in August 2011. If so, then he is only taxed on world-wide earnings up to August 2011. If...

If you have been tax-resident in Canada for more that 60 months then yes. If you are tax resident in Canada for less than 60 months then there is no capital gains tax on property that you owned before you became tax resident and still own when you cease to be tax-resident. If you do have to...

You should report any capital gain or loss since the day you moved to Canada on your 2012 Canadian tax return. You should also file a T1135 form for 2012. Given the state of the UK housing market it is unlikely you will have much of a capital gain between 2011 and 2012.

Yes.

You complete a T2125 form and file this with your income tax return. Most tax software, free or paid for, should have the facility to complete a T2125. It depends on the province you live in. $9,170 is below the federal personal amount but it is above some provincial personal amounts. Most...

Get a statement (or statements) showing the values of the policies on the day you move to Canada to live. You pay tax in Canada or earnings after this date or realized capital gains form the period you moved here to the date you sell.

d tax? As an employee you calculate any under or overpayment of taxes when you file your tax return. If you end up owing more than $3,000 the CRA may ask you to pay installments in future years but there is nothing to worry about until they do.

This is right. Foreign tax credits can be a real PITA if the CRA decides to investigate them (which they frequently do). Especially with a country like Australia that does not have a calendar year tax year. It is easier if the OP can get his "employer" to treat him as a self-employed contractor.

You would be able to claim all the HST paid on your business inputs. However, if you are registered, you would usually have to collect HST from your clients (unless they were outside Canada) so the HST on inputs like the digital camera will reduce the net HST you owe the government. I read...

I don't know anything about US taxes. Your wife need to tick the box for married, show the date you were married, your name and SIN (if any), and your income for 2011. Then she completes her return as normal. If you were living in Canada in 2011 you will likely do the same.

I am sorry. I really would like to help but I am not sure I understand what you are asking. However, yes a withdrawal from an RRSP is included in your taxable income in a year. I can't comment on whether this is accepted by CIC sponsorship purposes because I don't know very much about...

With the greatest of respect to you both, is this something you should be researching on your employers behalf? If they need tax advice shouldn't they be going to their advisers and paying for it? It is a subject that is far too complex to deal with in a few lines here.

If you left Canada after that one month then, based on the information you have provided, it is likely that you do not need to file a Canadian tax return for 2011 as you did not become tax-resident.

When did you start living in Canada? You usually become tax resident in Canada when you move here to live. You do not need to report US earnings before this date. However, I recommend that you still file a Canadian tax return from the date you became tax resident, even if you don't owe tax...

Assuming you became tax resident in September 2011 then you pay tax in Canada on your income since then. However, you have to prorate the federal and provincial personal amounts to reflect the portion of the year you were tax-resident here.

If your revenue is less than $30,000 a year you don't need to register for GST/HST. Depending where you are you may have to register for provincial retail sales tax. Assuming you are in an HST province and revenue is less than $30,000 your friend is right - you can just send an invoice. When...

You can still use TurboTax. just put the date you were married and your spouses income for the year.

There are two types of tax-residents in Canada: factual and deemed. Whether or not someone is a factual tax-resident is determined by their residential ties. If you establish residential ties in a year you are factual resident from that point onwards. The numebr of days is irrelevant except...

The BC Lottery Corp operates an on-line casino so it can't be completely illegal.

You can reduce taxes payable rather than get money back. If you are a self-employed subcontractor you will need to complete a form T2125 and file it with your tax return to report these earnings. There is a supplement to this form where you calculate the amount of the cost of the equipment you...