AUT 1 ye w Home Tuoks @ ACCE Q /** Mr. Rafael Solano is a U.S....
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
AUT 1 ye w Home Tuoks @ ACCE Q /** Mr. Rafael Solano is a U.S. citizen. However, since obtaining permanent residence status in 2003, he has been employed on a full-time basis in Waterloo, Ontario. His employer is a Canadian subsidiary of a multinational corporation that also operates in Europe and Africa. The head office of the company is in the United States. Mr. Solano has been very successful in his position with the Canadian subsidiary. Based on this, he has been offered a promotion which involves a significant increase in salary. However, this promotion is conditional on his moving to the company's head office in Boston no later than March 11, 2019. Given the sizable increase in his overall compensation, Mr. Solano accepts the offer. As a U.S. citizen, he has no difficulty getting the appropriate documentation to establish hist residency in the U.S. He gives up his Canadian driver's license and his provincial health care card. As required by his employer, he is at his desk in the new work location in the U.S. on March 11. Mr. Solano and his spouse, Jane, have one child, Matteo, who is attending a private school in Waterloo. The current semester at this school will end on June 26, 2019. In order not to disrupt Matteo's schooling, Jane decides that she and Matteo will remain in Canada until the semester ends. They depart Canada on June 29, 2019. The real estate market has been slow since the non-resident speculation tax was introduced by -Solanne hou the Ontario xernment in 2017 Arcil Type here to seach O Ad Export P Dette r bod na Othe Ma We Seg 690 Cle Deat here Bome Tools SQ 249 Mr. Solano and his spouse, Jane, have one child, Matteo, who is attending a private school in Waterloo. The current semester at this school will end on June 26, 2019. In order not to disrupt Matteo's schooling, Jane decides that she and Matteo will remain in Canada until the semester ends. They depart Canada on June 29, 2019. The real estate market has been slow since the non-resident speculation tax was introduced by the Ontario government in 2017. As a result, the Solanos' house did not sell until October 25, 2019. Required: Write a short (one page) memo explaining the tax policy regarding Canadian residency for tax purposes to Rafael Solano. Be sure to include the following: The rules regarding residency for Canadian income tax purposes (with references to appropriate sections of the Tax Act) • The factors you considered to determine Rafael's residency status for 2019. The portion of Rafael's income in 2019, if any, that would be subject to Canadian income tax . . type here to search O Et Potp Camery blive WOUTDED Time to Um Com Relah d Vor W nome Tools ACC . Type here to search Q . (2) Grade: This assignment is worth 10% of your final grade. The marks will be allocated as follows: 80% of the marks-analysis of tax issue (using facts from the case and your knowledge of tax rules) 20% of the marks-professional communication (including complete grammar and accurate spelling) at an appropriate level for the client O A The assignment is due before midnight on Sunday, May 31s and must be submitted through Blackboard. You are permitted to upload as many versions as you need to before the due date but the last version will be graded. ff TON D X-T toe A Rep aston WELTBI tarts Wind theme nga AUT 1 ye w Home Tuoks @ ACCE Q /** Mr. Rafael Solano is a U.S. citizen. However, since obtaining permanent residence status in 2003, he has been employed on a full-time basis in Waterloo, Ontario. His employer is a Canadian subsidiary of a multinational corporation that also operates in Europe and Africa. The head office of the company is in the United States. Mr. Solano has been very successful in his position with the Canadian subsidiary. Based on this, he has been offered a promotion which involves a significant increase in salary. However, this promotion is conditional on his moving to the company's head office in Boston no later than March 11, 2019. Given the sizable increase in his overall compensation, Mr. Solano accepts the offer. As a U.S. citizen, he has no difficulty getting the appropriate documentation to establish hist residency in the U.S. He gives up his Canadian driver's license and his provincial health care card. As required by his employer, he is at his desk in the new work location in the U.S. on March 11. Mr. Solano and his spouse, Jane, have one child, Matteo, who is attending a private school in Waterloo. The current semester at this school will end on June 26, 2019. In order not to disrupt Matteo's schooling, Jane decides that she and Matteo will remain in Canada until the semester ends. They depart Canada on June 29, 2019. The real estate market has been slow since the non-resident speculation tax was introduced by -Solanne hou the Ontario xernment in 2017 Arcil Type here to seach O Ad Export P Dette r bod na Othe Ma We Seg 690 Cle Deat here Bome Tools SQ 249 Mr. Solano and his spouse, Jane, have one child, Matteo, who is attending a private school in Waterloo. The current semester at this school will end on June 26, 2019. In order not to disrupt Matteo's schooling, Jane decides that she and Matteo will remain in Canada until the semester ends. They depart Canada on June 29, 2019. The real estate market has been slow since the non-resident speculation tax was introduced by the Ontario government in 2017. As a result, the Solanos' house did not sell until October 25, 2019. Required: Write a short (one page) memo explaining the tax policy regarding Canadian residency for tax purposes to Rafael Solano. Be sure to include the following: The rules regarding residency for Canadian income tax purposes (with references to appropriate sections of the Tax Act) • The factors you considered to determine Rafael's residency status for 2019. The portion of Rafael's income in 2019, if any, that would be subject to Canadian income tax . . type here to search O Et Potp Camery blive WOUTDED Time to Um Com Relah d Vor W nome Tools ACC . Type here to search Q . (2) Grade: This assignment is worth 10% of your final grade. The marks will be allocated as follows: 80% of the marks-analysis of tax issue (using facts from the case and your knowledge of tax rules) 20% of the marks-professional communication (including complete grammar and accurate spelling) at an appropriate level for the client O A The assignment is due before midnight on Sunday, May 31s and must be submitted through Blackboard. You are permitted to upload as many versions as you need to before the due date but the last version will be graded. ff TON D X-T toe A Rep aston WELTBI tarts Wind theme nga AUT 1 ye w Home Tuoks @ ACCE Q /** Mr. Rafael Solano is a U.S. citizen. However, since obtaining permanent residence status in 2003, he has been employed on a full-time basis in Waterloo, Ontario. His employer is a Canadian subsidiary of a multinational corporation that also operates in Europe and Africa. The head office of the company is in the United States. Mr. Solano has been very successful in his position with the Canadian subsidiary. Based on this, he has been offered a promotion which involves a significant increase in salary. However, this promotion is conditional on his moving to the company's head office in Boston no later than March 11, 2019. Given the sizable increase in his overall compensation, Mr. Solano accepts the offer. As a U.S. citizen, he has no difficulty getting the appropriate documentation to establish hist residency in the U.S. He gives up his Canadian driver's license and his provincial health care card. As required by his employer, he is at his desk in the new work location in the U.S. on March 11. Mr. Solano and his spouse, Jane, have one child, Matteo, who is attending a private school in Waterloo. The current semester at this school will end on June 26, 2019. In order not to disrupt Matteo's schooling, Jane decides that she and Matteo will remain in Canada until the semester ends. They depart Canada on June 29, 2019. The real estate market has been slow since the non-resident speculation tax was introduced by -Solanne hou the Ontario xernment in 2017 Arcil Type here to seach O Ad Export P Dette r bod na Othe Ma We Seg 690 Cle Deat here Bome Tools SQ 249 Mr. Solano and his spouse, Jane, have one child, Matteo, who is attending a private school in Waterloo. The current semester at this school will end on June 26, 2019. In order not to disrupt Matteo's schooling, Jane decides that she and Matteo will remain in Canada until the semester ends. They depart Canada on June 29, 2019. The real estate market has been slow since the non-resident speculation tax was introduced by the Ontario government in 2017. As a result, the Solanos' house did not sell until October 25, 2019. Required: Write a short (one page) memo explaining the tax policy regarding Canadian residency for tax purposes to Rafael Solano. Be sure to include the following: The rules regarding residency for Canadian income tax purposes (with references to appropriate sections of the Tax Act) • The factors you considered to determine Rafael's residency status for 2019. The portion of Rafael's income in 2019, if any, that would be subject to Canadian income tax . . type here to search O Et Potp Camery blive WOUTDED Time to Um Com Relah d Vor W nome Tools ACC . Type here to search Q . (2) Grade: This assignment is worth 10% of your final grade. The marks will be allocated as follows: 80% of the marks-analysis of tax issue (using facts from the case and your knowledge of tax rules) 20% of the marks-professional communication (including complete grammar and accurate spelling) at an appropriate level for the client O A The assignment is due before midnight on Sunday, May 31s and must be submitted through Blackboard. You are permitted to upload as many versions as you need to before the due date but the last version will be graded. ff TON D X-T toe A Rep aston WELTBI tarts Wind theme nga AUT 1 ye w Home Tuoks @ ACCE Q /** Mr. Rafael Solano is a U.S. citizen. However, since obtaining permanent residence status in 2003, he has been employed on a full-time basis in Waterloo, Ontario. His employer is a Canadian subsidiary of a multinational corporation that also operates in Europe and Africa. The head office of the company is in the United States. Mr. Solano has been very successful in his position with the Canadian subsidiary. Based on this, he has been offered a promotion which involves a significant increase in salary. However, this promotion is conditional on his moving to the company's head office in Boston no later than March 11, 2019. Given the sizable increase in his overall compensation, Mr. Solano accepts the offer. As a U.S. citizen, he has no difficulty getting the appropriate documentation to establish hist residency in the U.S. He gives up his Canadian driver's license and his provincial health care card. As required by his employer, he is at his desk in the new work location in the U.S. on March 11. Mr. Solano and his spouse, Jane, have one child, Matteo, who is attending a private school in Waterloo. The current semester at this school will end on June 26, 2019. In order not to disrupt Matteo's schooling, Jane decides that she and Matteo will remain in Canada until the semester ends. They depart Canada on June 29, 2019. The real estate market has been slow since the non-resident speculation tax was introduced by -Solanne hou the Ontario xernment in 2017 Arcil Type here to seach O Ad Export P Dette r bod na Othe Ma We Seg 690 Cle Deat here Bome Tools SQ 249 Mr. Solano and his spouse, Jane, have one child, Matteo, who is attending a private school in Waterloo. The current semester at this school will end on June 26, 2019. In order not to disrupt Matteo's schooling, Jane decides that she and Matteo will remain in Canada until the semester ends. They depart Canada on June 29, 2019. The real estate market has been slow since the non-resident speculation tax was introduced by the Ontario government in 2017. As a result, the Solanos' house did not sell until October 25, 2019. Required: Write a short (one page) memo explaining the tax policy regarding Canadian residency for tax purposes to Rafael Solano. Be sure to include the following: The rules regarding residency for Canadian income tax purposes (with references to appropriate sections of the Tax Act) • The factors you considered to determine Rafael's residency status for 2019. The portion of Rafael's income in 2019, if any, that would be subject to Canadian income tax . . type here to search O Et Potp Camery blive WOUTDED Time to Um Com Relah d Vor W nome Tools ACC . Type here to search Q . (2) Grade: This assignment is worth 10% of your final grade. The marks will be allocated as follows: 80% of the marks-analysis of tax issue (using facts from the case and your knowledge of tax rules) 20% of the marks-professional communication (including complete grammar and accurate spelling) at an appropriate level for the client O A The assignment is due before midnight on Sunday, May 31s and must be submitted through Blackboard. You are permitted to upload as many versions as you need to before the due date but the last version will be graded. ff TON D X-T toe A Rep aston WELTBI tarts Wind theme nga AUT 1 ye w Home Tuoks @ ACCE Q /** Mr. Rafael Solano is a U.S. citizen. However, since obtaining permanent residence status in 2003, he has been employed on a full-time basis in Waterloo, Ontario. His employer is a Canadian subsidiary of a multinational corporation that also operates in Europe and Africa. The head office of the company is in the United States. Mr. Solano has been very successful in his position with the Canadian subsidiary. Based on this, he has been offered a promotion which involves a significant increase in salary. However, this promotion is conditional on his moving to the company's head office in Boston no later than March 11, 2019. Given the sizable increase in his overall compensation, Mr. Solano accepts the offer. As a U.S. citizen, he has no difficulty getting the appropriate documentation to establish hist residency in the U.S. He gives up his Canadian driver's license and his provincial health care card. As required by his employer, he is at his desk in the new work location in the U.S. on March 11. Mr. Solano and his spouse, Jane, have one child, Matteo, who is attending a private school in Waterloo. The current semester at this school will end on June 26, 2019. In order not to disrupt Matteo's schooling, Jane decides that she and Matteo will remain in Canada until the semester ends. They depart Canada on June 29, 2019. The real estate market has been slow since the non-resident speculation tax was introduced by -Solanne hou the Ontario xernment in 2017 Arcil Type here to seach O Ad Export P Dette r bod na Othe Ma We Seg 690 Cle Deat here Bome Tools SQ 249 Mr. Solano and his spouse, Jane, have one child, Matteo, who is attending a private school in Waterloo. The current semester at this school will end on June 26, 2019. In order not to disrupt Matteo's schooling, Jane decides that she and Matteo will remain in Canada until the semester ends. They depart Canada on June 29, 2019. The real estate market has been slow since the non-resident speculation tax was introduced by the Ontario government in 2017. As a result, the Solanos' house did not sell until October 25, 2019. Required: Write a short (one page) memo explaining the tax policy regarding Canadian residency for tax purposes to Rafael Solano. Be sure to include the following: The rules regarding residency for Canadian income tax purposes (with references to appropriate sections of the Tax Act) • The factors you considered to determine Rafael's residency status for 2019. The portion of Rafael's income in 2019, if any, that would be subject to Canadian income tax . . type here to search O Et Potp Camery blive WOUTDED Time to Um Com Relah d Vor W nome Tools ACC . Type here to search Q . (2) Grade: This assignment is worth 10% of your final grade. The marks will be allocated as follows: 80% of the marks-analysis of tax issue (using facts from the case and your knowledge of tax rules) 20% of the marks-professional communication (including complete grammar and accurate spelling) at an appropriate level for the client O A The assignment is due before midnight on Sunday, May 31s and must be submitted through Blackboard. You are permitted to upload as many versions as you need to before the due date but the last version will be graded. ff TON D X-T toe A Rep aston WELTBI tarts Wind theme nga AUT 1 ye w Home Tuoks @ ACCE Q /** Mr. Rafael Solano is a U.S. citizen. However, since obtaining permanent residence status in 2003, he has been employed on a full-time basis in Waterloo, Ontario. His employer is a Canadian subsidiary of a multinational corporation that also operates in Europe and Africa. The head office of the company is in the United States. Mr. Solano has been very successful in his position with the Canadian subsidiary. Based on this, he has been offered a promotion which involves a significant increase in salary. However, this promotion is conditional on his moving to the company's head office in Boston no later than March 11, 2019. Given the sizable increase in his overall compensation, Mr. Solano accepts the offer. As a U.S. citizen, he has no difficulty getting the appropriate documentation to establish hist residency in the U.S. He gives up his Canadian driver's license and his provincial health care card. As required by his employer, he is at his desk in the new work location in the U.S. on March 11. Mr. Solano and his spouse, Jane, have one child, Matteo, who is attending a private school in Waterloo. The current semester at this school will end on June 26, 2019. In order not to disrupt Matteo's schooling, Jane decides that she and Matteo will remain in Canada until the semester ends. They depart Canada on June 29, 2019. The real estate market has been slow since the non-resident speculation tax was introduced by -Solanne hou the Ontario xernment in 2017 Arcil Type here to seach O Ad Export P Dette r bod na Othe Ma We Seg 690 Cle Deat here Bome Tools SQ 249 Mr. Solano and his spouse, Jane, have one child, Matteo, who is attending a private school in Waterloo. The current semester at this school will end on June 26, 2019. In order not to disrupt Matteo's schooling, Jane decides that she and Matteo will remain in Canada until the semester ends. They depart Canada on June 29, 2019. The real estate market has been slow since the non-resident speculation tax was introduced by the Ontario government in 2017. As a result, the Solanos' house did not sell until October 25, 2019. Required: Write a short (one page) memo explaining the tax policy regarding Canadian residency for tax purposes to Rafael Solano. Be sure to include the following: The rules regarding residency for Canadian income tax purposes (with references to appropriate sections of the Tax Act) • The factors you considered to determine Rafael's residency status for 2019. The portion of Rafael's income in 2019, if any, that would be subject to Canadian income tax . . type here to search O Et Potp Camery blive WOUTDED Time to Um Com Relah d Vor W nome Tools ACC . Type here to search Q . (2) Grade: This assignment is worth 10% of your final grade. The marks will be allocated as follows: 80% of the marks-analysis of tax issue (using facts from the case and your knowledge of tax rules) 20% of the marks-professional communication (including complete grammar and accurate spelling) at an appropriate level for the client O A The assignment is due before midnight on Sunday, May 31s and must be submitted through Blackboard. You are permitted to upload as many versions as you need to before the due date but the last version will be graded. ff TON D X-T toe A Rep aston WELTBI tarts Wind theme nga
Expert Answer:
Answer rating: 100% (QA)
MEMO TO Rafael Solano FROM DATE SUBJECT Residency for Canadian Income Tax Purposes This memo provide... View the full answer
Related Book For
Federal Tax Research
ISBN: 9781285439396
10th edition
Authors: Roby Sawyers, William Raabe, Gerald Whittenburg, Steven Gill
Posted Date:
Students also viewed these finance questions
-
A manager at the head office of a company is considering 3 branch office managers for promotion. Branch reports include records of sales volume per agent for each branch. A random sample of records...
-
You are the CEO of a multinational corporation that operates in more than 100 nations worldwide. Recent changes in the global economy are redrawing many geographical and political borders. The...
-
Computing Residual Income. Suppose the following hypothetical data represent total assets, book value, and market value of common shareholders equity (dollar amounts in millions) for three firms....
-
Apply normalization (1NF, 2NF and 3NF) of the system description given below and justify why relation needs 1NF, 2NF, and 3NF or not. At the end shift normalized data into Un-Normalized Data. S ystem...
-
BDI Co. utilizes digital thermal resin transfer imaging in its specialty of producing signs and decals advertising car washes for service stations. The founder of the company spent a number of months...
-
Some operating systems have a treestructured file system but limit the depth of the tree to some small number of levels. What effect does this limit have on users? How does this simplify file system...
-
1.7 Limitations of Comparative Advantage. The key to understanding most theories is what they say and what they don't. Name four or five key limitations to the theory of comparative advantage.
-
Piscataway Plastics Company manufactures a highly specialized plastic that is used extensively in the automobile industry. The following data have been compiled for the month of June. Conversion...
-
Should Project A be accepted or rejected if the following are true regarding the project? Base-case NPV (based on final estimates and expectations) is $33000, value created if there's a recession...
-
A partial trial balance for the Ryman Corporation is presented in the table below. Ryman has recorded some, but not all, of its transactions for the current reporting period, the year ending December...
-
please help ive provided the charts to go along with thequestion Perez Company is considering an investment of \( \$ 27.160 \) that provides net cash flows of \( \$ 8,200 \) annually for four years....
-
What forms of communications do you personally use to gather information about sports?
-
An audit trail in an EDI environment takes the form of a computer log, but may serve as the equivalent of the storage of source documents in a typical paper-based information system. Assume a company...
-
How does electronic commerce differ from EDI? What are the implications of these differences to the control and auditability of a company?
-
What reinforcements have been used to get you to go to work and to be on time?
-
Which of the following statements regarding analytical review procedures is not correct Analytical procedures a. Can be effective in auditing account balances when control risk is low and there is a...
-
What is the main structural difference between enveloped and nonenveloped viruses? Nonenveloped viruses have only a phospholipid membrane, whereas enveloped viruses have two membranes, the other one...
-
Can partitioned join be used for r r.A s? Explain your answer
-
How has Congress used tax penalties to discourage the development of certain tax shelters?
-
What are the disadvantages of using an online tax service?
-
Find the Parker v. Comm. decision from 1997 a. What is the citation for this case? b. How many times has this case been cited by the First Circuit Court of Appeals? c. Are there any cases that are...
-
Record the following details for the month of November 19X7 and extract a trial balance as at 30 November: 19X7 Nov 1 Started with 5,000 in the bank. 3 Bought goods on credit from: T Henriques 160; J...
-
Record the following for the month of January, balance off all the accounts, and then extract a trial balance as at 31 January 19X8: 19X8 Jan 1 Started business with 3,500 cash. 2 Put 2,800 of the...
-
From the following trial balance of B Webb, extracted after one years trading, prepare a trading and profit and loss account for the year ended 31 December 19X6. A balance sheet is not required....
Study smarter with the SolutionInn App