Three quick questions about taxes

[TADF chemist]

1. For a taxpayer resident in Canada receives a dividend from a foreign company (publicly traded), what is the tax rate for this income?

2. Is the monthly bank service charge on saving account tax deductible for Canada tax?

3. Does non-resident have to file T1135 form?

 

[canuck78]

1. For a taxpayer resident in Canada receives a dividend from a foreign company (publicly traded), what is the tax rate for this income?

2. Is the monthly bank service charge on saving account tax deductible for Canada tax?

3. Does non-resident have to file T1135 form?

2. No

 

[wajahatid]

1. depends on your income tax bracket.
3. Yes only if it the combined holdings including shares, interest income etc are greater than CAD 100,000.

 

[TADF chemist]

1. depends on your income tax bracket.
3. Yes only if it the combined holdings including shares, interest income etc are greater than CAD 100,000.

for 3, non-resident does not have to file T1135, even if the foreign asset cost > CAD 100,000

check https://www.canada.ca/en/revenue-agency/services/tax/international-non-residents/information-been-moved/foreign-reporting/foreign-income-verification-statement.html

under "who has to report"

 

[wajahatid]

for 3, non-resident does not have to file T1135, even if the foreign asset cost > CAD 100,000

check https://www.canada.ca/en/revenue-agency/services/tax/international-non-residents/information-been-moved/foreign-reporting/foreign-income-verification-statement.html

under "who has to report"

Sorry yes you are right. I did not read the non resident word in the 3rd point.

 

[TADF chemist]

Sorry yes you are right. I did not read the non resident word in the 3rd point.

that's alright, man