P.S.
Nelsona, I do appreciate you taking the time to read and reply to my posts. But I am in a dire situation and I need some creative, open-box suggestions for my problem.
Thanks, rbtcnda
Search found 5 matches
- Tue Nov 10, 2009 10:25 am
- Forum: Canada / United States Tax & Accounting
- Topic: Canada, Capital Losses & Resident/Non-resident, please h
- Replies: 8
- Views: 4368
- Tue Nov 10, 2009 10:22 am
- Forum: Canada / United States Tax & Accounting
- Topic: Canada, Capital Losses & Resident/Non-resident, please h
- Replies: 8
- Views: 4368
Come on, are you telling me you think the accountants that advised Enron and are advising many other US and Canadian companies to push the envelope to the edge and beyond are not knowledgable? And yes some of them got caught lying, but if you think there are not many more that did not get caught lyi...
- Mon Nov 09, 2009 10:25 am
- Forum: Canada / United States Tax & Accounting
- Topic: Canada, Capital Losses & Resident/Non-resident, please h
- Replies: 8
- Views: 4368
Nelsona
“Because, in the situation you describe, that would be a lie. You sign your return saying that you are not lying.
If you had made a million, we wouldn’t be having this dialogue now would we?â€
You just stated the obvious. That is not advice and you did not answer the question that I asked.
Again, my question is, given my situation what kind of chance do I have of filing as a resident for 2007 and 2008 and declaring my capital losses? (n.b. As a resident with no income for those years it would have been optional for me to file a return).
Yes, it is a lie. Would all people who have never lied please let me know. As I said, I have almost no income or assets at this time so have nothing to lose.
“Since you were not resident in 2007 or 2008, you were supposed to file a return -- and you didn't.â€
As far as I know a non-resident does not have to file a return unless they have Canadian source income
AND
a resident who does not have any income also does not have to file a return (they can choose too if they want to claim credits or, as in my case, declare capital losses).
If there is any knowledgeable person out there who understands my question and can give me some advice I would greatly appreciate it.
“Because, in the situation you describe, that would be a lie. You sign your return saying that you are not lying.
If you had made a million, we wouldn’t be having this dialogue now would we?â€
You just stated the obvious. That is not advice and you did not answer the question that I asked.
Again, my question is, given my situation what kind of chance do I have of filing as a resident for 2007 and 2008 and declaring my capital losses? (n.b. As a resident with no income for those years it would have been optional for me to file a return).
Yes, it is a lie. Would all people who have never lied please let me know. As I said, I have almost no income or assets at this time so have nothing to lose.
“Since you were not resident in 2007 or 2008, you were supposed to file a return -- and you didn't.â€
As far as I know a non-resident does not have to file a return unless they have Canadian source income
AND
a resident who does not have any income also does not have to file a return (they can choose too if they want to claim credits or, as in my case, declare capital losses).
If there is any knowledgeable person out there who understands my question and can give me some advice I would greatly appreciate it.
- Sat Nov 07, 2009 11:22 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Canada, Capital Losses & Resident/Non-resident, please h
- Replies: 8
- Views: 4368
Nelsona I appreciate your reply. In my case I had no deemed dispositions, it was all cash that I transferred to the brokerage. I wasnt suggesting that I try to pretend I did not become non-resident. I filed with Canada revenue indicating I was nonresident in June 2006. What I was asking is, since I ...
- Sat Nov 07, 2009 5:55 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Canada, Capital Losses & Resident/Non-resident, please h
- Replies: 8
- Views: 4368
Canada, Capital Losses & Resident/Non-resident, please h
In June of 2006 I became a non-resident of Canada. I completed the appropriate forms to notify Canada Revenue Agency of my non-resident status. I moved to eastern Europe and was retired. I was and still am a citizen of Canada. Prior to leaving Canada I sold all my Canadian assets (real estate, car) ...