Deferred Tax Payment of Income from Deemed Disposition
Moderator: Mark T Serbinski CA CPA
Re: Deferred Tax Payment of Income from Deemed Disposition
After the ten year mark, you respond to their request as I outlined earlier. Please view responses made to others as if they were to you.
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Re: Deferred Tax Payment of Income from Deemed Disposition
Hi,
It's a long time ago but if memory serves, my wife was asked to provide a Letter of Guarantee to Revenu Quebec. I believe she deposited the money in a GIC which was kept in an account at TD Canada Trust. The idea was that when she returned to Quebec, she would get the money back.
It's a long time ago but if memory serves, my wife was asked to provide a Letter of Guarantee to Revenu Quebec. I believe she deposited the money in a GIC which was kept in an account at TD Canada Trust. The idea was that when she returned to Quebec, she would get the money back.
Re: Deferred Tax Payment of Income from Deemed Disposition
Anyone else have experience with this process and what CRA asks for in terms of "adequate security"?
Has anyone also indicated shares in a CCPC as part of deemed disposition? Can payable cap gains tax be deferred as well by putting up 'adequate security'?
Has anyone also indicated shares in a CCPC as part of deemed disposition? Can payable cap gains tax be deferred as well by putting up 'adequate security'?
Re: Deferred Tax Payment of Income from Deemed Disposition
Only the tax arising from deemed disposition can be deferred. Typically, the shares of the investments that have been deemed sold are sufficient security.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing