Question One: (10 Marks) Pertinent facts are given for a different individual in each of the Parts
Question:
Question One: (10 Marks) Pertinent facts are given for a different individual in each of the Parts of this problem. For each Part, indicate whether or not this individual would be considered a Canadian resident for income tax purposes during the current year. Briefly explain your conclusion.
Part C Last year, John transferred to the Cayman Islands office at the request of his Canadian employer. His three year employment contract calls for him to return to work in Canada after its completion. On his departure from Canada, he severed all residential ties with Canada.
Part D Millicent is a U.S. citizen who, until last year, had lived and worked in Canada as a landed immigrant for over 20 years. Last year, after winning $2 million in an Ontario lottery, she left Canada on a two year pleasure trip that will take her to virtually every country in the world. Her husband and children, all Canadian citizens, continue to live at the family home in Port Hope, Ontario.
Financial Accounting
ISBN: 978-0134127620
11th edition
Authors: Walter Harrison, Charles Horngren, William Thomas, Wendy Tietz