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
TAX in Canada
Moderator: Mark T Serbinski CA CPA
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.
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.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing
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.
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.