Serbinski Accounting Firms

I'm no expert on any of this and also struggling to understand the new Trust reporting rules. The new reporting requirements are causing a lot of confusion, and a lot of extra work for many. I have had a similar exchange with a CRA Agent, ie. request a technical ruling. That just tells me even CRA d...

For what it's worth my mother has a Roth IRA at Fidelity. She uses RBC Bank (US) and Royal Bank (Canada). The fidelity Roth account is linked to her RBC Bank (US). She transfers $ from Fidelity Roth to RBC Bank, then cross border transfers it to her Royal Bank (Canada) $US account. She can then exch...

crossbordernut wrote: > Hi, we know all about the one-time CRA election that lets a new Canadian > immigrant Roth IRA holder prevent future taxation on the Roth under Treaty > XVIII 3(b) and (7). My question is, in the case of a Canadian resident dual > citizen inheriting a Roth IRA from his decease...

Thanks Nelson - just had to double check.

nelsona wrote: > yes they must be reported as pension income in order to determine your > gross income (for HST, CCTB, clawback purposes). They are then deducted on > your 25600 line as a treaty exempt income. I wanted to probe this a little more. I know you have answered this question before and yo...