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Hi Kam, In this case, the family member is using the loan for a personal investment. The key question here is whether the loan is used for a purpos...
Hi Cari, Yes, you will pay departure tax to the CRA on your Spanish property. Canada imposes a departure tax on individuals who cease to be Canadi...
Hi Hakan, Even though you are not a Canadian resident, because you have earned income from a Canadian eBay account, the CRA will want you to report...
Hi Joy, You can’t directly transfer an RRSP into an Australian superannuation fund (super fund), as the tax treatment and account structures differ...
Hi Michele, 1. Deposit on Property Abroad Before Departure If you put a deposit on a property abroad before leaving Canada but the property complete...
Hi Sam, Here are the answers to your NR4 slip-related questions: 1. Exemption Code for 15% Withholding (Due to Treaty) If you deducted 15% withho...
1. Maintaining Non-Resident Status in Canada Yes, it’s possible to maintain non-resident status in Canada if you have no primary residential ties (e....
Hi Randy, Since the property was never rented out and is not connected with a business or trade, the gain from the sale would not be treated as eff...
Hi Max, You're correct that J-1 visa holders (trainees) may remain exempt from FICA taxes if they continue to qualify as non-resident aliens (NRAs)...
Hi Ron, The first step is to determine if you and your wife meet the US Substantial Presence Test (SPT). If you meet the US SPT, you will be treat...
Hi Sam, Business profits derived by a foreign corporation through a permanent establishment located outside Canada are not taxable in Canada. Howe...
Hi Michele, Most foreign countries do not recognize TFSAs as tax-sheltered investments. This means that any gains or income realized within a TFSA...
Hi Byron, File form 5013-R Income Tax and Benefit Return for Non-Residents and Deemed Residents of Canada. In addition to this, complete form 5013...
Yes, you will be double taxed. This is because the IRS treats a multi-member LLC as a Partnership whereas the CRA treats an LLC as a corporation. Th...
Living outside Canada for 60 months does not mean you will qualify for the exemption from departure tax. To qualify, you must leave Canada within 60 ...