Serbinski Accounting Firms

1. Problem is I didn't notify financial institutions of my departure, so T3's are showing dividends and other amounts paid to me as if I was resident for the whole year. And since you mentioned interest, I have T5's reporting interest paid to me for the whole year. I suppose if I had done things ...

Thanks for the continuing feedback nelsona.

1. Ok, that explains the need to report T3 cap gains/losses separately from deemed disposition cap gains/losses. One more question about T3 entry on departure returns: do we need to pro-rate gains/losses, dividends, and "other income" amounts on the slips ...

[quote="nelsona"]You fill out T1243 AND you report the gains and losses on Schedule 3.
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1. I'm a bit confused about how to handle Schedule 3.
I have T3's indicating capital gains/losses, and Schedule 3 has a specific place for entering the gains/losses from T3 slips. But now I want to ...

Thanks very much for the prompt feedback nelsona.
I guess I'll have to face the music and deal with the penalty.

[quote="nelsona"]
2. She does not need to file T1161 if her the reportable assets did not exceed $25K value on departure date. You and she still need to report the deemed disposition of ...

I'm very late in doing my departure return, and I've just discovered the whopping $2,500 CAD fee for filing the T1161 form so late. :cry:

My questions are:

1. Would a successful application under the Voluntary Disclosure Program (VDP) lead to waiving of the T1161 penalty?

2. I'm assuming I need ...