Question about the tax of a joint stock account

[westwood]

If a cash account is a joint account with my wife, how should we report tax next year ? Does the profit belong to my wife or me ?

 

[coolest]

按谁报都行，

 

[devnull]

最初由 coolest 发布
按谁报都行，

不行吧? 一半一半还差不多.

disclaimer: i am no accountant.

 

[hh_ca]

it depends where the money is coming from. If it's your money, you have to claim it evenif the account is under your wife's name. However, if both of you have income, you can say that the money is from your wife. For example, you wife earns $20,000 each year for the past 3 years, and you earn $100,000. You have accumulated $60,000 in your account in the past three years. Then you wife can claim the tax because all your wife's income (pre-tax) were used for investing and your income were used for paying the bills. This is perfectly ok.

Not an exact answer but you got the idea. If not sure, ask for professional help.

 

[lifeisfun]

最初由 westwood 发布
If a cash account is a joint account with my wife, how should we report tax next year ? Does the profit belong to my wife or me ?

I remember it's half/half, which means by default, the revenue Canada assume half of the money belongs to your wife and half to you and therefore the capital gain will be plit for your tax returns. Ask a person in bank for detail.