Question
Answered step-by-step

Case A

    Gary Short is a Canadian citizen who has lived and worked in Calgary, Alberta, all of his life. In January 2020, he is offered a significant promotion if he will accept a position in Australia. On accepting this position, he establishes residency in that country on February 1. However, because his children wish to finish school year in Canada, his children and his wife do not join him until June 30, 2020. Because of the poor real estate market in his Calgary neighborhood, his former residence is rented out under a long term residential lease beginning July 1.

 

Determine the residency status for the following individual for the 2020 taxation year. Indicate what components of their income would be subject to Part 1 tax in Canada, either as a resident or non-resident, in 2020. Explain your conclusion (ignore international tax treaties in your answer):

 

 

Case B      Martha is a U.S. citizen who, until 2019, had lived and worked in Canada as a landed immigrant for over 20 years. After winning $1.2 million play black jack at the Montreal casino, on August 28, 2019, 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 Laval, Quebec

 

 

Determine the residency status for the following individual for the 2020 taxation year. Indicate what components of their income would be subject to Part 1 tax in Canada, either as a resident or non-resident, in 2020. Explain your conclusion (ignore international tax treaties in your answer):

 

Case C.       Byron Long is a citizen of France. However, having established landed immigrant status in Canada, he has worked in this country for over 15 years. On the unexpected death of his spouse, he receives an insurance payment of $2 million. He decides to use a large part of this payment for an extensive round - the - world cruise. He arranges a two year; leave of absence from his job and sails from Canada on July 1,2020. He sells the family residence but retains all his Canadian banking and brokerage accounts.

 

Determine the residency status for the following individual for the 2020 taxation year. Indicate what components of their income would be subject to Part 1 tax in Canada, either as a resident or non-resident, in 2020. Explain your conclusion (ignore international tax treaties in your answer):

Answer & Explanation
Verified Solved by verified expert

e ve

ac,sus ante, dapibec aliquet. Lorem ipsum
fng elit. Nam las ante, dapibus a molestie
iipsum dofacilisis. Pellentesque dapibus efficitur lao
lipsum dosum dolor sit amet, consectetur adipiscing elit. Nam lacinia

Unlock full access to Course Hero

Explore over 16 million step-by-step answers from our library

Subscribe to view answer
Step-by-step explanation

a. Fus

lestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Donec aliquet. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapib

gue

ec fac

a. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Donec aliquet. Lorem ipsum dolor sit amet, consectetur adi

molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Donec aliquet. Lor

or nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, con

gue

Donec
ctum vitae odio. Donec aliquet. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Donec a

gue

gue

or ne

et, consectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, c