Serbinski Accounting Firms

Thank you for this! Much appreciated.

I'm a long-time non-resident of Canada living in the US. I received about C$10k in interest from the Canadian federal government in 2023. I informed the paying agency that I am a non-resident, living in the US. They did not deduct any tax and issued a T5 at the end of the year. I'm wondering if I sh...

Thanks a lot! I will do that.

Oh wow, I didn’t realize that.

I don’t have any other Canadian source income at all. My reference to Part XIII liabilities was only because I thought this income was subject to Part XIII.

Hello, I left Canada to move to the US about 8 years ago and became a non-resident. In 2022, I received some surprise retroactive pay in Canada from a government job I used to have due to errors with their pay system. Even though I have notified them that I left Canada, they withheld income tax as i...

(i.e. up to 2015, excuse the typo)

Hello,

The CRA just reassessed my 2018 return (in 2022, long process). Now I have a capital loss in 2018 that I didn’t have before.

Can I request to carry this capital loss back to the previous three years (I.e. up to 215), even though it was a long time ago?

Hi nelsona, Just wanted to let you know what happened. I wrote to the CRA explaining the situation. An auditor then used the T4A to calculate a Part XIII liability on the full amount (including the direct RRSP transfer). I received a notice of assessment asking for a large payment of additional XIII...

Thanks a lot. Sounds like I’ll need to try to get it straightened out with the CRA.

First off - this forum is awesome and thanks for your advice. Here are the specifics: I had a defined benefit pension that was paid out in a lump sum in two parts: 1. Amount within limits under the income tax act 1.1 - an in-limit amount directly transferred into a LRRSP 1.2 - an in-limit amount dir...

I take that back — the T2151 was not for the portion contributed to the RRSP... oh boy.

You have given me some hope, as they did file a T2151. This was used to avoid withhold regular income tax rather than XIII, but seems to be the same form and process.

Hmmm... I agree that the employer should have 1) made a XIII withholding on the cash disbursement and 2) requested a waiver on withholding XIII for the amount directly transferred from a registered pension plan into an RRSP. Instead they made a regular income tax withholding on the cash transfer val...

Thanks a lot. Indeed, the RRSP credit isn't too exciting. The portion of the payment transferred into the RRSP is reported on the T4A and offset by an RRSP contribution. Unfortunately my worldwide income is too high to do a 217 election. Reviewing the documentation again, I see that the withholding ...

Hello, I'm a non-resident of Canada living in the USA. I received a lump sum payout of an old pension plan from Canada, part of which was transferred to an RRSP (still had RRSP space available) and part of which was received in cash. Around 18 percent of the cash part was withheld for federal income...