Serbinski Accounting Firms

Found it, section 4 here for anyone else's reference. Thanks a mil Nelsona!

https://www.canada.ca/en/revenue-agency ... rnToCanada

nelsona wrote:
> since you
> owned the property before coming to Canada, you would not be subject to cap
> gains tax if you still hold it when you leave.

very insightful thanks. anywhere you can point me to this verbiage somewhere in CRA documents? Immigrant guide perhaps?

My understanding is you are not a US tax resident, so you wouldn't claim tax paid in other jurisdictions just as you wouldn't claim income in other jurisdictions as well.

Any thoughts?

US

look into Remitr for low cost wire options

Hi there, bought an investment property/rental in 2013 when I was a US tax resident, moved back to Canada in 2015, and now looking to sell. Assume IRS treats cap gains as sale price minus cost basis on initial purchase (and depreciation/capital adjustments). How does CRA treat cap gains in this case...

Should also add that depreciation/CCA is treated a bit differently in US/Canada which affects cap gains

AFAIK, when you sell in Canada, you will be hit with cap gains by IRS on total gain, as well as gain of the house from the point you entered Canada to the sale. Cap gains are lower in US, so IRS takes their share then CRA tops up, via the tax treaty. So in general, yes better to sell before moving u...

Ok. Did a bit more research. Tax treatment seems similar, however with equity from a US co, a Cdn resident is able to defer tax owing with W-8BEN form. All else being equal, this is preferred.

hmm can't find the edit button.
meant to say "..or receive X in equity (RSUs) from a US company?"

Thanks Nelsona.
If the person is not self-employed but rather a T4 employee with a GEO such as Manpower (Canada), do you know how equity compensation is treated from a US company? Would it be more cost-effective to receive X in additional T4 salary, or receive equity (RSUs) from a US company?

Hi there, does anyone here have experience working as a Canadian contractor working in Canada for a US firm? How are taxes typically treated? Are they simply remitted as one sum when filing taxes at the end of the year?

Hi there, this is my first time filing as a relocated Canadian tax resident. I have a US rental property which generated a small amount of income after all expenses and depreciation which is detailed in the Schedule E. I received a 1099 from the property management company though I believe they shou...