eMail Article To a Friend View Printable Version

Leveraged charitable contributions - Charitable Giving in Canada -

QUESTION: How do feel about an organization such as Universal Fund Trusts
based in Markham Ont who charitable tax receipts of $5000 for each $100
donated? Is this allowed in the Canadian income tax act. Whom would you
recommend in the Kitchener- Waterloo Ontario area?

Thanking you in advance
eMail Article To a Friend View Printable Version

Canadian student in the U.S. - tuition - List of qualifying US Institutions

Hi David -

I sure would appreciate your opinion on this one.

I am a Canadian student at a community college (not a university) in the U.S. My visa status is F-1. I am working towards an Associate degree, not a Bachelor's degree.

Can I deduct my tuition fees on my Canadian income tax? Form TL11A is titled "Tuition and Education Amounts Certificate - University Outside Canada" and I sure hope that it applies to me even though I am at a community college.

The other form - TL11D - is for a deemed resident of Canada, and seems to include both universities and colleges. Would I be considered a "deemed resident"? I am away for a few years but will be returning to Canada at the end of my course.

There has to be some way that I can claim $8000 of tuition fees against my Canadian income!

Thanks for your help!
eMail Article To a Friend View Printable Version

Canadian Parents want to give away their money to children and grandchildren

My aging parents have recently sold their home of 30 years and have purchased a smaller home of much less value. Mom has asked to me find out how much money she can give her children and grandchildren without anyone having to pay too much tax.
eMail Article To a Friend View Printable Version

H1B wants to commute and get Canadian citizenship and US green card at the same time

QUESTION: Dear David, Your columns are extremely helpful. Here's my
questions. My wife and I recently became permanent residents of Canada 2
months back, and we live in USA where I work on H1B visa. I am considering a
new job in consulting. My new employer is okay if we move to Toronto and fly
3 days/week to USA on H1B. (1) Will there be any issues to fly and go
through immigrations into USA on H1B without any address in USA and PR in
Canada? (2) Can the employer apply for my US green card without me having a
residence in USA? (3) My intention is to work toward my (and spouse's)
Canadian citizenship in the next 3-4 years as well as get the US green card
through my employer - is that possible? (4) I fear that with my flying 3
days/week I will never complete 3 years of residence rule for citizenship -
how can I get around it? (5) Once I get my US green card, we would move back
to USA to work but I would like to keep my Canadian citizenship where we
want to retire in 10-15 year!
s - can I keep my Canadian citizenship if I move out of Canada for the next
10 years? Thank you. I would like to call and discuss if this is too
complicated and pay the necessary fees?
eMail Article To a Friend View Printable Version

Deemed disposition of Alta. property in Divorce BC resident

My question is: Canadian-specific

QUESTION: I am at the final point of signing the negotiated terms of the
division of assets through my divorce. This question is related to two
properties. I currently (rent) reside in Vancouver BC and I lived in Alberta
up to April 2004. I shared a primary residence in Alberta with my husband
that was purchased by him before our marriage and remains entirely in his
name. We have a rental investment property in Alberta in both our names.
Husband is keeping the rental property resulting in my share of the asset
and a taxable rate of 34%. Am I better off claiming this in BC as part of my
income? My salary was less when I lived (a student) in Alberta and property
value is set at April 2004. I am receiving a portion of the primary
residence's equity from the time I lived in the home which is considered
already taxed. Are there any other deductions related to divorce I can claim
that would offset the capital gains tax on the investment property?
Any advice you can give would be great! Thanks.
eMail Article To a Friend View Printable Version

Wickimedia -US charitable contributions by residents of Canada - Wikipedia

The Wikipedia project is currently trying to raise some money to assist project.
US charitable contributions by residents of Canada tax-deductibility of donations thereto by citizens of countries other than the USA -
In case you do not know about this project, you can find it at www.wikipedia.org
and for the most part I have stopped using search engines because in nearly all cases
I find the information I am looking for in Wikipedia.


Anyway, the matter at hand concerns the following page:
http://wikimediafoundation.org/wiki/Deductibility_of_donations

which contains, in part, the following citation:
Other countries
Donations from individuals who are not U.S. residents or nationals may or may not be tax-deductible — questions about such donations should be directed to a tax professional. Donors living outside the United States should determine whether there is a tax treaty with the United States and their country or other law that would allow them to deduct a donation to Wikimedia from their income. Currently there are tax treaty provisions for deductibility in some cases for Canadian, Mexican and Israeli taxpayers. Again, ask a tax professional for specifics.

I invite comment on this, assuming that the Wikimedia Foundation has a valid 501(c)3 registration in the USA.


eMail Article To a Friend View Printable Version

Expatriate & Canadian Taxes

QUESTION:

I am an employee of the Consulate of Canada in the United States as a
non-rotational, locally engaged staff with an A2 visa, and currently file
taxes as a factual resident with the province of XXXX. I am considering
buying a house in the U.S. and don’t have any “real intent” to return to
Canada. I would like advice on how to file my taxes and reduce the amount
of taxes I pay. Are you familiar with my status/situation and can you help
me? If so, how?

Thank you,

eMail Article To a Friend View Printable Version

Staying in the USA after retirement

My question is: Applicable to both US and Canada

QUESTION: I am a Canadian temporarily living and working (legally) in the US
and I am considering buying property now. Is it legal to own property and
live in the USA if retired and therefore not working here? Are there
restrictions on how many days a year one can stay, for example?

Thanks
eMail Article To a Friend View Printable Version

Fiancée - Husband - Skilled worker - self-assessment test to immigrate / come to Canada qualifying NAFTA occupations

QUESTION: Hi,
I am an american who would like to marry a kenyan citizen who curently is
in vancouver on a work/education visa. Is there a way I can marry her and we
both live in canada. I would like to try to avoid having to go through the
long process of a fiance visa for the us. We just want to get married soon
and we would both be happy to live in canada. Is it possible? I am also a
business owner in the US does that help??? could I go as a foreign corp...
or marry her and join her because of her visa?
eMail Article To a Friend View Printable Version

US Tax on short term home ownership

My question is: US-specific

QUESTION: We have bought a house in July,2005 and ,I must say it was not(!)
a great buy, so we want to sell the house and buy another one. Is it
possible? Are we gonna pay some extra money?
Thank you...................