Search found 6 matches
- Wed Jan 17, 2018 2:28 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Non Resident executor of a Canadian estate
- Replies: 10
- Views: 5987
Aside from the US reporting requirements (depending on the size of the estate), how does Canada view the estate? Does the CRA consider the estate to be non resident because the executor who controls the estate and makes the decisions is a non resident? If so, what are the implications of that classi...
- Tue Jan 16, 2018 5:57 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Non Resident executor of a Canadian estate
- Replies: 10
- Views: 5987
so to be clear, no implications for the estate of having a non resident of Canada as executor of the estate? Or are there implications on the estate only if the non resident executor is also the beneficiary? The estate pays taxes in Canada (Mom is a Canadian citizen and resident and all assets are C...
- Tue Jan 16, 2018 5:25 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Joint tenancy on Principal residence
- Replies: 0
- Views: 5457
Joint tenancy on Principal residence
since capital gains tax is exempt on prinicipal residences in Canada when they are sold or deemed disposed upon death of the owner, is it necessary for the owner to file joint tenancy (rights of survivorship)? I understand that this may help with probate fees where the joint tenant survivor is also ...
- Tue Jan 16, 2018 5:22 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Non Resident executor of a Canadian estate
- Replies: 10
- Views: 5987
Non Resident executor of a Canadian estate
My mother wants to name me executor of her estate when she passes, but there is a possibility that I am a non resident of Canada when she passes away. I understand that there could be tax implications of naming a non resident executor of a Canadian estate, in that the estate would be deemed to be a ...
- Fri Jul 14, 2017 8:20 pm
- Forum: Canada / United States Tax & Accounting
- Topic: TFSA and RRSP income
- Replies: 3
- Views: 2113
Thank you. What if the deceased will puts the money into a Canadian trust upon death instead of paying out directly to the beneficiary (who is not the spouse). Would the beneficiary of the trust who is a US resident need to pay taxes on those investments? When would they be taxed? When money is disb...
- Fri Jul 14, 2017 4:20 pm
- Forum: Canada / United States Tax & Accounting
- Topic: TFSA and RRSP income
- Replies: 3
- Views: 2113
TFSA and RRSP income
How does the US tax US resident aliens (Canadian citizens) who are named direct beneficiaries of RRSP accounts and TFSA accounts upon the death of the account owner? I assume since the accounts transfer at death to the US resident who must claim all foreign income, there will be tax implications on ...