Serbinski Accounting Firms

a brief background: - 2017 - a US property acquired in 2017 as a primary residence - Jan2018 - permanent residency obtained in Canada (property's designation changed to a rental property) - May2022 - moved back to the US, property's designation changed to the primary residence Question: if ever desi...

I dont have any cdn gov benefits, gst rebates and such; not keeping any ties to Canada for that reason, or keeping them to unavoidable minimum (spouse and children). however, the whole point of returning back to the US is to exactly avoid forced deemed disposition - as it will be less than 5 years i...

Nelsona is sharp as a tack.

So in 2023 I will still have to file the CDN tax return for 2022 but the CDN tax requirement will be applicable only up to the date whenever I leave in 2022 (even if it's only 5 months for example). I think I got it. Thank you.

My sole sources of income is from the US only, even though I have a current residence status in Canada. So whether I move on June 30th or July 15th won't make any difference?

Hello,

are there any practical considerations on timing my return back to my US residence after 4 years in Canada?

i.e. if I make my move date/end the residency in Canada before July1 2022 (less than 183 days in a calendar year),
do I still have to file Canadian taxes for 2022?

Thank you!

Yeah, if it was a specific single line, that would be okay by me - but their request is so generic and so involved, they are asking for literally everything - as I detailed - entire US return with ALL the attachments and forms and documentation that was not even needed to prepare the taxes themselve...

Hi, a quick intro: American in the 4th year of CDN residence, otherwise having all my life in the US. Coming to Canada literally and solely for the purpose of being together as a family. Commuting daily. Don't get me started on the disorganized little border power trippers with reading comprehension...

...even if the 1040s can be amended only for up to 3 years? (as per your previous answer)

So could I wait for 4 years in Canada (and not file CCA claims) and if I know for sure before the end of the 5th year I'm moving back to the States, I could amend all my CDN returns and claim CCAs on them?

Interesting. So how would that work given that I filed US taxes first so I could file the CDN ones after (and claim foreign credits). Would I have to amend my US return? Are there any timelines involved or is it too late now?

Could I claim this CDN tax on the 401a contribution as a foreign credit in the US next year?

My point still stands though -- the "no RRSP room" for the first year is an excuse to extract a little more and the treaty apparently does not cover this situation -- because RC268 does nothing for me (or other newcomers) in the same situation -- yet it would still benefit the Canadian res...

Unfortunately, very early January....

OK but the fact remains that my contributions for the first year are taxed, and there's nothing I can do about it. I don't think the treaty or the rules cover this situation (and they should).

OK, so the rule is actually, if you are resident of less than 60 months (5 years - which do not need to be consecutive) within a 10 year period , the deemed disposition is exempt. yay! Having said that, when I asked the software to apply CCAs vs. not applying them, there was no difference to the amo...