Search found 14 matches
- Sat Apr 05, 2008 11:07 pm
- Forum: Canada / United States Tax & Accounting
- Topic: currency exchange + capital gain
- Replies: 14
- Views: 8222
- Thu Apr 03, 2008 9:44 pm
- Forum: Canada / United States Tax & Accounting
- Topic: US Citizen married to Canadian
- Replies: 17
- Views: 11899
- Thu Apr 03, 2008 9:42 pm
- Forum: Canada / United States Tax & Accounting
- Topic: US Citizen married to Canadian
- Replies: 17
- Views: 11899
Don't give up on me yet, I almost understand it (I think). My understanding was that the deemed dispo taxes are paid to Canada upon leaving the country and at that time I haven't sold assets in the States to incur a cap gains tax therefore why would I get a US tax credit? The dispo tax could have be...
- Thu Apr 03, 2008 6:57 pm
- Forum: Canada / United States Tax & Accounting
- Topic: US Citizen married to Canadian
- Replies: 17
- Views: 11899
For example, if I transfer US dollar assets into Canadian dollar denominated assets then they will be consider completely different assets than what I had prior to being a resident. For example, US domiciled mutual funds can not be transfered to Canada. If I sell them when I become a resident then a...
- Thu Apr 03, 2008 6:53 pm
- Forum: Canada / United States Tax & Accounting
- Topic: US Citizen married to Canadian
- Replies: 17
- Views: 11899
Nelson, 1) Above you said that I wouldn't have to sell my US brokerage assets immediately and move them to Canada, Is there a deadline? 2) There is a CRA rule that says should I not live in Canada for more than 60 months in a 10 year period then any assets that I had when I first became a Canadian r...
- Thu Mar 27, 2008 11:11 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Deemed Deposition for Under 6o-month Residence
- Replies: 1
- Views: 2747
Deemed Deposition for Under 6o-month Residence
"property you owned when you last became a resident of Canada, or property you inherited after you last became a resident of Canada, if you were a resident of Canada for 60 months or less during the 10-year period before you emigrated;" Hi, I culled the quote above from CRA's Form T1243. D...
- Tue Mar 25, 2008 12:33 am
- Forum: Canada / United States Tax & Accounting
- Topic: US Citizen married to Canadian
- Replies: 17
- Views: 11899
I am not trying to hedge against the gain. I am trying to get used to the fact that if I stayed in the US, and say the US dollar strengthen and then I went and bought CNDs I would just get more CNDS. No cap gains. Now if I become a resident that same transaction would be subject to a cap gains tax m...
- Mon Mar 24, 2008 7:10 pm
- Forum: Canada / United States Tax & Accounting
- Topic: US Citizen married to Canadian
- Replies: 17
- Views: 11899
Thanks again. Let me make sure I understand this correctly. 1) If the USD strengthens against the CND say 10% and I exchange $2000 USD for CND I will have to pay cap gains on the 200 gain PLUS a fee each time I do a transaction like this? 2) By the same token, if when I become a resident I put all m...
- Sun Mar 23, 2008 3:11 pm
- Forum: Business & Personal Immigration to Canada
- Topic: "In Canada" Application for Permanent Residency
- Replies: 3
- Views: 9248
- Sun Mar 23, 2008 3:09 pm
- Forum: Canada / United States Tax & Accounting
- Topic: US Citizen married to Canadian
- Replies: 17
- Views: 11899
Currency USD to CND
If I transfer US Dollars (cash) into a US Dollar denominated account in Canada and the US dollar strengthens and I then buy Canadian dollars does this trigger a capital gains event or would I merely pay the exchange fees?
Thank you for all your answers. You are a real help.
Thank you for all your answers. You are a real help.
- Sat Mar 22, 2008 8:01 pm
- Forum: Business & Personal Immigration to Canada
- Topic: "In Canada" Application for Permanent Residency
- Replies: 3
- Views: 9248
"In Canada" Application for Permanent Residency
My Husband sponsored me to be a permanent resident. We sent in our applications and paperwork to the office in Alberta in late 2007. We used the In Canada application because we thought it would be faster. In any case, i ended up going back to the States to continue working on various consulting pro...
- Sat Mar 22, 2008 5:34 pm
- Forum: Canada / United States Tax & Accounting
- Topic: US Citizen married to Canadian
- Replies: 17
- Views: 11899
Nelsona, thanks for your advice. I keep reading about this new legislation in the states that imposes a departure tax on assets of 2MM with an exemption of 600K. Also it would impose 30% withholding on IRAs left in the US. Politics aside, my question is: 1) do you know if this has actually passed in...
- Sat Mar 22, 2008 4:35 pm
- Forum: Canada / United States Tax & Accounting
- Topic: US Citizen married to Canadian
- Replies: 17
- Views: 11899
- Sat Mar 22, 2008 4:23 pm
- Forum: Canada / United States Tax & Accounting
- Topic: US Citizen married to Canadian
- Replies: 17
- Views: 11899
US Citizen married to Canadian
Hi, I am visually impaired so bare with me if you can. It took me a long time to even to log on. If these questions are answered in the forum elsewhere maybe you could send the links. I couldn't find them. Thanks. I am a USC and married a Canadian in 2007. I applied for PR in Canada in 2007. Worked ...