I have a question: If you invest in an individual stock in China for example, how will you be taxed if you live in Canada for capital gain or dividends? Does China withhold tax? Does Canada tax also? Is this double taxation?
Thank you. I had to travel over 900km plus this summer to work as a watchman/maintenance job . maintenance of the generator and to keep the road open for suppliers. By road open, meaning, clearing down trees from the road. I had to purchase a power saw to cut the trees, Is the power saw deductible? I am 72 years old and retired.
Thank you so much Jacky, I need to go through all your videos..anything can we claim for medical insurance premiums for noncitizen parents and their living expenses?
I am a Canadian non resident living in the US, I have a 401K-403 account from my employment and will be receiving social security when I retire, and I will be retiring in Canada, do I have to report this to CRA when I go back to Canada?
Hi the cra is asking for my world income before coming to Canada in 2017 in order to calculate gst/hst. I want to know how will this affect my benefits for instance when I send this amt how does more or less affect the benefits? And how do I submit this info?
Hi Im not sure what benefit you got for 2017, this is hard to say with such limited info. Also usually for these questions i would refer my client to a CPA as it is out of my usual scope Im afraid I cannot give you a good enough answer
Hi Jacky, thanks for informative Video. I would like to ask about Canada training credit. I am 29 and updating my self in Nait Alberta. My accountant said that I am only Eligible if I am on maternity leave. Is it true ? I do not have any child. Can I still claim Canada training credit?
Jacky, I'm really confused. I have a property overseas thats worth 500k. I'm not making any money off it as the money I earn from rent goes to the mortgage 100%. (breakeven). For this case, do I need to report this and file T1135?
@@JackyKuk If an individual owns a condominium in Florida that has a cost amount of $120,000, is the property specified foreign property for the purposes of Form T1135 if the condominium is: a. used exclusively by the taxpayer as a vacation property? b.rented out for eight months of the year with a reasonable expectation of profit and kept for personal use the other four months? c. rented out for part of the year without a reasonable expectation of profit for the purpose of recovering a portion of condominium expenses? In situation (a), the individual does not need to report the condominium since it is held primarily for personal use or enjoyment. In situation (b), the property is not held primarily for personal use or enjoyment. As a result, it is a specified foreign property and has to be reported on Form T1135. In situation (c), if there is no reasonable expectation of profit and the individual is merely recovering part of the condominium expenses, the CRA will consider it a personal-use property. As such, the property is not a specified foreign property and is excluded from the reporting requirements of Form T1135. this is taken from CRA. what i understand is that i fall under category C, as there is no profit. Thereby making it not necessary to file T1135. Correct me if I am wrong.
What are your tax tips?
Thanks for the video! Didn't know about Home Buyers' amount, so will be claiming that one!
Thank you for watching"
For help on how to grow your investment/portfolio'
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Excellent tips, glad I found your channel!
Thank you for watching"
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thanks Jacky this was really helpful!
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I have a question:
If you invest in an individual stock in China for example, how will you be taxed if you live in Canada for capital gain or dividends?
Does China withhold tax? Does Canada tax also? Is this double taxation?
Thank you. I had to travel over 900km plus this summer to work as a watchman/maintenance job . maintenance of the generator and to keep the road open for suppliers. By road open, meaning, clearing down trees from the road. I had to purchase a power saw to cut the trees, Is the power saw deductible? I am 72 years old and retired.
It should be however you better check with local CPA
Thank you so much Jacky, I need to go through all your videos..anything can we claim for medical insurance premiums for noncitizen parents and their living expenses?
Thank you for watching"
For help on how to grow your investment/portfolio'
💌T•e•x•t•• m•e///W•h•a•t•s•a•p•p•• +1••{2•2•5•}•7•2•6•6•1•4•2•••
I am a Canadian non resident living in the US, I have a 401K-403 account from my employment and will be receiving social security when I retire, and I will be retiring in Canada, do I have to report this to CRA when I go back to Canada?
I believe if worldwide asset over 100k you do
However there should be no tax for these accounts yet until you draw and recieve income
Hi the cra is asking for my world income before coming to Canada in 2017 in order to calculate gst/hst. I want to know how will this affect my benefits for instance when I send this amt how does more or less affect the benefits? And how do I submit this info?
Hi Im not sure what benefit you got for 2017, this is hard to say with such limited info. Also usually for these questions i would refer my client to a CPA as it is out of my usual scope Im afraid I cannot give you a good enough answer
Am I be double taxed on my dividend income? withholding tax and income tax?
What kind of div income and is it corp/personal?
I have a question on Hong Kong 10000 scheme. Do I have to report this amount ? If yes , where should I report this amount ? Thks!
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Hi Jacky, thanks for informative Video. I would like to ask about Canada training credit. I am 29 and updating my self in Nait Alberta. My accountant said that I am only Eligible if I am on maternity leave. Is it true ? I do not have any child. Can I still claim Canada training credit?
That does not sound correct maybe check with another accoutnant
Jacky, I'm really confused. I have a property overseas thats worth 500k. I'm not making any money off it as the money I earn from rent goes to the mortgage 100%. (breakeven). For this case, do I need to report this and file T1135?
Yes, you do. Also need to report foreign asset. Your mort principal is not tax deductible so you likely still owe tax
@@JackyKuk If an individual owns a condominium in Florida that has a cost amount of $120,000, is the property specified foreign property for the purposes of Form T1135 if the condominium is:
a. used exclusively by the taxpayer as a vacation property?
b.rented out for eight months of the year with a reasonable expectation of profit and kept for personal use the other four months?
c. rented out for part of the year without a reasonable expectation of profit for the purpose of recovering a portion of condominium expenses?
In situation (a), the individual does not need to report the condominium since it is held primarily for personal use or enjoyment.
In situation (b), the property is not held primarily for personal use or enjoyment. As a result, it is a specified foreign property and has to be reported on Form T1135.
In situation (c), if there is no reasonable expectation of profit and the individual is merely recovering part of the condominium expenses, the CRA will consider it a personal-use property. As such, the property is not a specified foreign property and is excluded from the reporting requirements of Form T1135.
this is taken from CRA. what i understand is that i fall under category C, as there is no profit. Thereby making it not necessary to file T1135. Correct me if I am wrong.
Hi Jacky, I'll be working remotely in Canada for US company. They pay me in USD, will this be foreign income?
Should not, you should be considered a contract worker
@@JackyKuk Yeah we will be signing a consultant agreement but i'm not considered as self-employed. In this case, I still have to pay CPP and EI right?
Hi Jacky, can I have a consultation session with you?
Sure email us jacky.teaches.finance@gmail.com
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