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Type: Posts; User: mungbeans

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  1. Is it necessary to file a CDN tax return if a non-resident but with bank interest?

    Hello

    I moved from Canada to the US a couple of years ago and am now a tax non-resident.

    I still have some Canadian bank accounts which have earned interest. Do I therefore need to file a...
  2. We're not buying another property at the moment,...

    We're not buying another property at the moment, if the sale falls through then in theory we should get the deposit and the buyer should be liable for if the property sells at a lesser price in the...
  3. I haven't engaged a lawyer yet, but if I were to...

    I haven't engaged a lawyer yet, but if I were to do so maybe they would charge extra for consultations in which case why should we pay extra for a buyer issue? Could I get the buyer to pay any...
  4. Thanks It wouldn't inconvenience us and I'm...

    Thanks

    It wouldn't inconvenience us and I'm inclined to do so but want to make sure we couldn't get bitten - for example its a strata building and if in that extra week a new special assessment...
  5. Buyer wants to postpone signed and agreed closing date, any reason for us not to?

    Hello

    The closing date for our property sale is in a few weeks (all the subjects were removed from the contract a few weeks ago).
    However my realtor has informed me the buyers would like to...
  6. Thanks AltaRed. If I am deemed to be a tax...

    Thanks AltaRed.

    If I am deemed to be a tax resident of the US and I sold the Canadian property (without making any capital gains on the sale), what is the situation regarding withholding tax on...
  7. Resident, non resident, or deemed non-resident?

    I've read the CRA material on residency versus non residency and several threads but find it confusing and not been able to find any clear, concise, understandable definition of these and their...
  8. Is a Canadian tax return necessary if no Canadian income, but have US income

    My wife and I moved from Canada to the US in 2011 and for 2012 we spent no time in Canada nor had any Canadian income with the exception of some bank interest.
    I work for a US company and have US...
  9. Thanks for the replies. We wouldn't be using...

    Thanks for the replies.

    We wouldn't be using a mortgage it would be a cash purchase, with money from a joint bank account. Therefore does that count as being her's?
  10. Tax rate on rental income if property is owned by low versus high rate tax payer

    Hi

    My wife and I are thinking of buying an apartment which we would be renting out.

    I'm a high rate tax payer while my wife doesn't work. If we bought the property in both our names I'm...
  11. Thanks but several documents I have looked at...

    Thanks but several documents I have looked at saying there is withholding tax on property sales, such as

    http://www.steveorealestate.com/PDF/oct03_tax_guide_ind.pdf with first line: "Non-resident...
  12. Is withholding tax based on capital gains from real estate sale or sale price?

    Hello

    I moved out of Canada last year and am a non resident but still own a property there (it was my principal residence, and its not ben rented).
    If I sold it then I would be subject to...
  13. Replies
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    How is Canadian depature tax calculated?

    Hello
    I moved from Canada to the US to work during 2011 and am trying to figure out if I'm a Canadian resident still for tax purposes or not, and if not how much departure tax might be owed.
    I have...
  14. Can I claim a tax treaty exemption for US income, if so which forms should I use?

    Hello,
    I'm trying to determine what my situation is regarding the Tax Treaty Exemption.
    In 2011 I spent 9 months living and working in the US for a US company (and paid tax on that income and...
  15. Query about filing when majority of income for 2011 has been earned in the US

    Hello,
    I moved from Canada to the US during 2011 and have income from both countries - from Canada it is Employment Insurance payments before the move and interest income on bank accounts,...
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