Serbinski Accounting Firms

@nelsonq - would you happen to know what should I be inputting as TOTAL INCOME (line 1 box 15000) in section 216 election form?

I emigrated out of Canada in Feb 2022. I do own rental properties in Canada, however I was ignorant, and didn't withhold nor remit 25% of my gross rental income for 2022. I started doing that for 2023. So for 2022 tax returns, do I need to elect under section 216 and report my rental income and expe...

thank you!

Hi, I'm filling t1243 form, and need confirmation of what kinds of properties I need to report - 1. Unsold shares/stocks (ESPP through my US employer back when I was working in Canada) 2. Crypto (Wealthsimple) ? 3. Stocks - various (Wealthsimple) 4. non-reg plan ETFs (Wealthsimple) ? 5. non-reg mutu...

nelsona wrote: > Well, since the guide says you can elect, then obviously there is an > option. > > There is no advantage in filing this and triggering cap gain unless you > have unused cap loss, or in the case of a business, have some cap gains > exemption room. Even then, you will always be able t...

nelsona wrote: > There is no "deemed disposition" on Cdn real estate, unless you > are making a special election for investment property. > > Are you asking about the cost of the evaluation? Since you are not selling, > I believe that would simply be an expense against the properties incom...

Hello, I moved to the US in 2022, and hoping to file as a Canadian non-resident in 2022. I've two rental properties in Canada. Property 1 : purchased in 2020, and rented renting it out immediately. Property 2 : purchased in 2018, lived in this property until 2021, rented it out in Oct 2021. Filed fo...