You worked in the United States. You accumulated savings in a 401(k). You moved back to Canada — or plan to. Then the question arises: “How is my U.S. 401(k) taxed in Canada?” The answer depends on: Your residency status…
– ITA s.126 You earned U.S. dividends. You sold foreign shares. You paid withholding tax overseas. Then you ask: “Do I have to pay tax on this again in Canada?” If you are a Canadian resident, the answer is: Yes…
– ITA s.128.1 | CRA Form NR73 You have accepted a role abroad. You are relocating your family. You plan to “move for a few years.” Then someone says: “Be careful — Canada taxes you when you leave.” They are…
If you are a Canadian resident who owns shares in a foreign corporation, the reporting obligation may go beyond Form T1135. Once ownership crosses certain thresholds, a far more detailed disclosure regime applies: Form T1134 – Information Return Relating to…
You opened a U.S. brokerage account. You bought shares of Apple or Microsoft. You inherited property overseas. Then your accountant asks: “Do you need to file Form T1135?” Many Canadians misunderstand this rule. It is not a tax on foreign…
You signed a pre-construction agreement. The market appreciated. You assigned the contract before closing. Many Canadians assumed this was a capital transaction. In many cases, it is not. Assignments of residential real estate can trigger GST/HST, and in certain circumstances,…
Capital Cost Allowance (CCA) is often described as a “tax deduction.” That description is incomplete. CCA is not a permanent deduction. It is a deferral. And when a rental property is sold, that deferral can reverse — sometimes aggressively. If…
Owning rental property can build wealth. But it also creates tax obligations. Each year, landlords must report: Gross rental income Minus deductible expenses Equals net rental income (or loss) The governing rule for deductibility is found in Income Tax Act…
Expanded Executive Introduction — Tax Planning Is Not a Deduction List (1,000+ words) Purpose Reframe “tax minimization” as structural and temporal planning Establish authority and audience alignment Set expectations: this is not a checklist, but a strategy guide Key themes…
Most family businesses don’t fail because they aren’t profitable. They falter when a founder passes away, when ownership needs to change, or when a major tax bill arrives at the worst possible time. We have seen it many times. A…