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Luca Jacobs Moved to Canada on April 30th, 2020

Question 9

Essay

Luca Jacobs moved to Canada on April 30th, 2020.Luca was born and raised in Belgium and moved to Canada to start a career in architecture.Luca earned $45,000 from May to December in 2020 from the architecture firm.Luca earned $10,000 of employment income from January to March in 2020 while still living in Belgium, and also received $1,000 in dividends in March 2020 and $1,000 in dividends in September 2020 from stocks in a European corporation.Luca' parents e-transferred $2,000 as a gift for Luca' 25th birthday in August, 2020.
Required:
a) Determine Luca' residency status for Canadian tax purposes for 2020.
b) How much income is Luca required to report for the 2020 tax year?
c) Explain why any items have been excluded from your calculations.

Correct Answer:

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a) 'Part-year or part-time resident' or ...

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