TAX in Canada

raj · Post by **raj** » Tue Jun 23, 2015 11:30 pm

My husband moved to US 2 months ago with TN. I'm planning to move in a week as well. We extended our health cards for next 3 years, told child care benefit that we are leaving, transferred all the accounts to TD waterhouse etc.

We still have a Canadian line of credit against our house in canada, regular bank accounts, and credit cards that we are not closing in Canada. But we are informing banks and financial institution that we are leaving and updating our address. Our house in Canada will be rented out too.

Anything else needed to be done before I leave?
Any tax consequences with these?

Thanks

nelsona · Post by **nelsona** » Wed Jun 24, 2015 7:07 am

Look s good.
His departure can and will be different than yours, so he should use the date he left for work.
Your health cards aren't much good to you, nor your DL, so don't rely on those.

ainu.afnu · Post by **ainu.afnu** » Wed Jun 24, 2015 11:44 pm

Thanks. One more question about HBP RRSP.

I have 15k and my husband has 15k HBP loan remaining. If we payback this loan now before leaving canada. Then we can withdraw the whole amount in the USA in late 2016 minus 25% tax. Am I right? Pls note that my husband already moved to US with TN two months back and I am planning to move with TD in July.

nelsona · Post by **nelsona** » Thu Jun 25, 2015 7:19 am

Yes. he best do that now, since he had 60 days from departure to make the repayment.

raj · Post by **raj** » Thu Jun 25, 2015 8:29 am

Need little clarification here regarding these 60 days. My husband received his TN on 16th of April but actually moved on 10th of May. What should be the actual moving date for Tax purpose?

nelsona · Post by **nelsona** » Thu Jun 25, 2015 9:08 am

May 10. Your deaprture date will be when you move.