Filing Canadian Taxes

V

vault

Registered Users (C)
Hi Mercury6,

I have a quick question to ask? I have been noticing that people have been telling that even though they work in the US, they have been paying minimum Canadian taxes? If I am not mistaken, one has to declare World Wide income to pay Canadian Taxes? Dosen't one need to enclose a T4 slip?
I am confused about this. Can one file a T1 just by putting $xx,xxx in column number 104 (Other Employment Income)? If one does this, won't CCRA do an audit?

I am confused on this issue, and would appreciate if you could help me understand this.

Thanks in advance.
 
I have done the opposite, lived in Canada and last year filed taxes both in Canada and US. I might do again this year, depending on if I am considred a resident for tax purposes.

I didnt have any income from from US, so I had nothing to declare. But in the US tax forms I declared all income from Canada (from the T4 slip). But I didnt enclose a copy of T4. I filled up US tax 1116 along with the 1040 form. As far as I remember did not enclose anything.

Now for people working in US and also paying (filing) tax in Canada, a similar thing may work. After all a W-2 doesnt make much sense here.

Sorry, I dont have more knowledge than this.
 
Mercury6,

Thanks!! I have been paying US and Canadian Taxes. The way I have been doing this was to first file my US taxes, then calculate canadian taxes on the Gross US Income minus US taxes paid.

Say you are not working in the US, but you are working in Canada as a Inddependent consultant, hence you will not have any T4's. How can one file a T1 without a T4?
 
Hi Vault,

One question, it seems you are working for a US employer. So, I assume you don't have T4. Am I right? Then when you claim Canadian tax, in which field did you put your US income? 101 Employement income or 104 Other employement income?

Thanks
 
CC CC,

Yes, no T4. I take the average rate for 12 months published by Bank of Canada, and convert my US gross income to Canadian Income, and put it as Other Income in 104. That takes care of the Federal tax. But when you start calculating the Provincial Tax, it's tricky. If you have paid state taxes, you can deduct that, when you calculate your provincial tax. However, make sure to enclose a copy of W2, 1040, and the appropriate State retun.
 
how much salary needed for filling

how much salary needed for filling the taxes.
annually.
 
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