Cross-Border Tax and Investment Q&A – Episode 18


I have helped hundreds of people successfully navigate from the US to Canada. If you're thinking of moving or retiring to Canada contact me today to chat about your plans.

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Phil Hogan, CPA, CA, CPA (CO)
Cross-Border Tax and Investment Specialist

On episode #18 of Crossing the 49th Podcast we hosted a live Cross-Border Tax and Investment Q&A.

On another instalment of cross-border Q&A we discuss various cross-border tax and investment related issues.

  • 0:00 We’re live!
  • 2:05 I inherited a bunch of stocks from my father last year and I will be selling them in 2022. Do I need to pay tax on the stocks even though he already has? From Ken
  • 5:02 Reading through your blog I just realized I should have filed those T1135 forms. I see they have a huge penalty. Is there a one-time penalty abatement? Emily
  • 9:10 Every year the CRA audits my foreign tax credits on my Canadian return. Is there a way to avoid this every year by filing manually? Jagat
  • 12:11 I live in Seattle and we just bought a Victoria condo rental. It will be losing money each month, do we need to file anything in Canada? Susan
  • 19:57 Do you know of any software that does both Canadian and US returns at the same time? Greg
  • 22:50 My husband and I (both dual citizens living in Vancouver) are thinking of selling our main home. Will we have to pay US tax? Charlotte
  • 31:50 My accountant is not getting back to me and still hasn’t filed my US tax return. What penalties should I expect? Mohammad

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Disclaimer: The information contained in this Podcast and YouTube video is for information purposes only and should not be construed as tax or financial planning advice. Tax and financial planning rules change from year to year and the information contained within may be outdated. Ensure to engage an experienced and competent tax and financial planner to help you with your tax and financial planning needs.


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