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I opened Moneystrands account now and first checked whether it can add Sams club credit card.

It did correctly within few minutes.

How does CRA treat equity take out from Canada rental property already on 216 returns.

a) If used for buying another rental property
b) Cash take out

Thanks

Nelsona,
I filed our returns to Ottawa International office and not sure whether we made error in it hence this posting.

Your advise from previous postings was useful. I filed non resident 216 rental income for 50 % income (25 % gross tax already with-held) only and spouse filed departure return ...

I have read many forums informing that a non resident must have local Canadian person depositing 25 % of gross rental for XIII to CRA. In my case, I had taken post dated checks from my tenants when I was resident. When I came to US, I called CRA International tax office and set up my non resident ...

Does one get tax credit for taxes paid in US on Ontario return? or only Federal tax credit?

You mean just file 216 return for rental income for full 2009 tax year for Canada sourced income?

Nelsona- Thanks.

The sticky point how do I convince CRA that my income is not taxable in Canada when my wife had decided to move to US with me during exploratory trip to US during accompanying me in first week of new job but returned to Canada when our house hunting was on.

She made trip to US to ...

I came to US in Jan 09 from Day 1. I made one trip in April 09 and another before family moving in May from Canada. Since I was not commuting daily or weekly, I can be considered as deemed non resident of Canada. is that correct? But does that deemed non resident status give me any benefit in terms ...

Nelsona,
Could you please elaborate on how above will affect tax situation. I have similar case. I started working from beginning of year. My family stayed till May and therefore I considered myself as commutor even though I visited only once during these 5 months.

Does it mean that I pay tax to ...

Not clear what forms I need to submit for deemed disposition when I file departure return.

I pay 25 % gross rental income as advance tax and I have RRSP. Are these not exempt from deemed disposition? If yes, do I still need declare about this?

Please advise.

Hello Nelsona,
You had provided for guidence for detailed calculations for tax credit portion on US return for Canada return in above posting. You also mentioned that Line 22 is to be taken for denominator which already includes rental loss.

My question is how to report loss on schedule E on rental ...

Basically it amounts to be same number as Box 1 on W2 since for Canada you add 401K contribution to Box 1 and then subtract same amount on line 207.

Of course, above is on assumption that there is room in RRSP.

Hello Nelsona,
I was worried that I may lose all of 25 % of tax paid with departure return. From your hint, when I search internet, I could find T1159. Is this form to be attached to departure return so the net refund or payable tax will be the addition of departure and 216 return?
Is this OK?

Not clear which line to show cumulative gross tax of 25 % of rent in 2009 Canada return under Non-Resident Withholding Tax - Part XIII

Since my net rental is considerably lower, I expect net refund from gross rent which I want to use to offset for part year resident tax payable on US income due to ...

Hello Nelsona,
I am familiar with the link but was confused by wording "commuter". Is the same form applicable for part year Canadian resident as well?