F. xxxxxxxxxxxx wrote:
Except there's a Catch 22. The Permanent Resident Card cannot be renewed outside of Canada or without a Canadian address. So, while a person can technically retain their PR status while living outside Canada with their Canadian citizen spouse, they cannot get proof of that status.
>
> http://www.cic.gc.ca/english/pdf/kits/guides/5445E.PDF
>
> Fxxxxxxxxx
> ___________________________________________________--
> david ingram replies:
>
> The first PR cards are just coming up for renewal now and so far I have not heard a single squeal. Those who are married to a Canadian have likely come back to Canada with their spouse for visits with family, etc and will likely coordinate their renewals to coincide with that visit. But you make a point and I will circulate this as a warning.
>
> Thanks for the heads up.
>
> david

QUESTION: I am a professional who has a professional corporation. I am interested in investing in real estate, and I need to make a downpayment on a house. Can I borrow money from my professional corporation? If yes, for how long, and do I have to pay interest? Who sets up such a loan? Thank you.
_____________________________________________________________________________________________
david ingram replies:

If you are talking about a rental house or rental property, borrowing from your corporation is fine.

If you are talking about buying a house for you to live in, you should dissolve your corporation or put it aside for a few years and operate as a proprietorship so that you can make all your mortgage interest deductible.

Goto www.centa.com and read the Nov 2001 newsletter in the top left hand box and get hold of Fraser Smith's "the Smith Manoeuvre" and attend one of Fred Snyder's free seminars on the subject (604) 731-8900 for more information.

I am a U.S. citizen. I am staying in BC Canada now with my new Canadian wife. My problem is I came over on a visitors pass using my birth record and drivers license. I have had one 6 month extention of my temp pass already.

I am worried that if I cross over to get a passport I may not be allowed back.

My wife will sponsor me for perm. residence, but I don't want to give up my U.S. citizenship.

I understand BC has a relaxed view on labor permits. I am a handyman with good building and repair skills. Yet as I uderstand to do this I would have to apply outside of the country.

Do you have any advice on which way would be best to go

David, How do i claim a reward from the goverment for turningi n someone who is cheating on their taxes BIG time?

Subject: OAS in case of Bankruptcy
>
> I am a Canadian citizen above 65 and have no income except (welfare) OAS. Creditors are pressing hard for their monies and I am not in position to pay. Bankruptcy appears to be the only option. My question is will I get OAS after filing of the personal bankruptcy?. I have no assets.
> Thanks

I would like to know where I can get information on inheritance. I am a US Citizen in Canada for 15 years, a landed immigrant. Specifically, I have inherited a sterling silver tea service (Im not sure of the value, but it is old and expensive) and I want to have it sent to me in Canada. Do you know if there is tax and/or customs and duty on inherited goods?


My second questions is not reality yet but if my mother or sister, both living in the US and US Citizens, pass and I inherit, do you know the tax and/or customs and duty situation on that?



Thanks in advance!

My question is: Applicable to both US and Canada

QUESTION: My sister and I are joint owners of the family home since my
mother died. My sister lives in the US, but retains her Canadian citizenship.
Since she is now retired, we will be selling the home, and I have a number
of questions -
1. Need I use a realtor? What legal responsibilities will I have to look
after if I handle the sale myself.
2. Is there anything she (or I) can do to minimize any taxes to her?
3. I took the capital gains partial exemption when I filled out my income
tax in 96-97. How will that work upon sale?

QUESTION:

I am a U.S. citizen by birth and have worked and resided in the U.S. my entire life. However, I recently discovered that, because my mother was a Canadian citizen, I appear to be eligible for Canadian citizenship under the transitional provision of the Canadian Citizenship Act of 1977, paragraph 5(2)(b) but my application must be made before 14 August 2004.

My general question is whether obtaining dual citizenship offers any advantages and, if it does, whether they outweigh any resulting disadvantages.

I recently retired. My income is in the form of a pension, SRA, interest, and dividends, all from U.S. sources. I am a U.S. resident and, at least for the foreseeable future, intend to remain one. I have a U.S. passport. Beginning in 2006, I plan to spend several years traveling the world with, at most, only infrequent and short return visits to the U.S.

Under these circumstances, what are the advantages and disadvantages, if any, of dual U.S.-Canadian citizenship? What rights and responsibilities will I be giving up or obtaining? In particular: Will it affect my entry and exit into other countries and my status while inside a country? Will it affect the income or other taxes I am obligated to pay?

Regards,

QUESTION:

Hello, I am a TN1 visa holder and moved to Maryland July 1st 2004. I worked
part time in Canada Jan 1st-June 28th 2004. I am mariied and my wife lives
with me full time. She is a full time student through correspondence at a
Canadian university. I have RSP's and other stock invesments,(no real estate)
in Canada. I only have one bank account in Canada and one Canadian Credit
card which have both been 99% inactive since I moved. What should I do for
tax purposes in Canada and how should I be taxed here in the US? Should I
close out my bank account and visa? Thank you.
-----Original Message-----
From: David Ingram at home - bus at [email protected]
[mailto:[email protected]]
Sent: Wednesday, March 31, 2004 9:02 AM
To: CENTAPEDE
Cc: TAXMAN; david ingram at home
Subject: TD F-90 T1243 T1244 T1161 South Carolina from Ontario


Sorry, David,

I missed your reply! I thought this was just the same thing we had sent
you. Thank you very much for the information and for the list of contacts
as well. If you feel comfortable with your knowledge in this area, we will
likely go with you. Could you give us a rough idea how much it would cost
for you to do it: The combined Canada, S.C. and N.C. return?

Also, as we are on a TN. and (ultimately) I will be on a student visa with
RRSP's in Canada do you think its worth pursuing non-resident status?

Thanks again