Search found 44 matches

by octane99
Fri Nov 14, 2008 6:19 pm
Forum: Canada / United States Tax & Accounting
Topic: Changed Tax return - RRSP overbuy
Replies: 1
Views: 2253

Changed Tax return - RRSP overbuy

Nelson, If I changed the tax return in 2005 which I should file a departure return. Therefore, the RRSP limit I can buy in 2006 drops too. However, I have bought the full amount in 2006 based on the original 2005 return. In this case, How would CRA treat this kind of case? Thank you for the reply.
by octane99
Tue Sep 30, 2008 3:26 pm
Forum: Canada / United States Tax & Accounting
Topic: Husband in US, Kid and Wife in Canada - Child Benefit
Replies: 8
Views: 5687

Thanks, I just called. It seemed when they updated my departure date. They also updated my wife's departure date to 2005 too. The agent told me CCTB will correct this. I will wait and see. You are right about RRSP. The rule is for 25% tax for non-resident. I asked if I bought by a mistake and never ...
by octane99
Tue Sep 30, 2008 2:41 pm
Forum: Canada / United States Tax & Accounting
Topic: Husband in US, Kid and Wife in Canada - Child Benefit
Replies: 8
Views: 5687

I did not. My wife get the CCTB not me. They are asking my wife to give it back that is why I feel it is not right.
by octane99
Tue Sep 30, 2008 10:28 am
Forum: Canada / United States Tax & Accounting
Topic: Husband in US, Kid and Wife in Canada - Child Benefit
Replies: 8
Views: 5687

What I felt bad is the time I wasted to prepare Canada Tax and now I need to correct them. Plus I bought RRSP for my TAX year 2007. Nelson, as a NR, If I bought RRSP in 2007, can I collapse it in 2008 and then file a NR for 2008 to get all money back ( 7000 income from RRSP - 7000 RRSP) ? Also, from...
by octane99
Mon Sep 29, 2008 9:19 pm
Forum: Canada / United States Tax & Accounting
Topic: Husband in US, Kid and Wife in Canada - Child Benefit
Replies: 8
Views: 5687

Husband in US, Kid and Wife in Canada - Child Benefit

I worked in USA since the end 2005. For tax year 2005 and 2006, I reported my world income as Canada resident since my wife and kids stayed in Canada ( Which I believe it is a mistake, I should file a departure return in 2005 to CRA). Then my wife and kid move out the first day of 2008. For tax year...
by octane99
Mon Sep 29, 2008 8:32 pm
Forum: Canada / United States Tax & Accounting
Topic: WARNING MOVING DON’T NOTIFY CCRA ABOUT CCTB
Replies: 7
Views: 7262

Well, I had similar case. The difference is that I moved out in 2005 and my wife and kids stayed in Canada.

I will post my story separately. Hope it helps.
by octane99
Sat Mar 29, 2008 11:11 am
Forum: Canada / United States Tax & Accounting
Topic: Non - resident question - Does a child matter?
Replies: 4
Views: 3985

Thanks for the reply, Nelson. I will answer your question first. We did have a status change on Jan 1st, 2008 - we officially got a new I-94 for our new H1/H4 status on the boarder. We did make a final move to USA on that day. On Jan 2nd, 2008, we called CRA international office to change address to...
by octane99
Fri Mar 28, 2008 9:56 pm
Forum: Canada / United States Tax & Accounting
Topic: Non - resident question - Does a child matter?
Replies: 4
Views: 3985

Follow this post, Does CRA allow wife and kid file regular return while husband file departure or non-resident return?
by octane99
Fri Mar 28, 2008 9:51 pm
Forum: Canada / United States Tax & Accounting
Topic: Non - resident question - Does a child matter?
Replies: 4
Views: 3985

Non - resident question - Does a child matter?

Nelson, you mentioned that I may file my Canada tax as a non-resident in 2007. It is true that most of time my wife visited me and I only visited Canada 4 times. However, our kid lives with her in Canada in 2007. Does this matter? I also have a future question. We told CRA moved out of Canada on Jan...
by octane99
Thu Mar 27, 2008 4:52 pm
Forum: Canada / United States Tax & Accounting
Topic: Moving expenses paid in 2007 - get reimbursement in 2008 -
Replies: 7
Views: 5224

Wow, I do not know if there is a difference between my visiting canada and my wife visiting USA. Thank you for the information. But that is too complicated for me. I do own a couple of hundred Canada tax so it is OK for me to file Canada return. I just found my moving expenses for Canada tax is more...
by octane99
Thu Mar 27, 2008 4:05 pm
Forum: Canada / United States Tax & Accounting
Topic: Moving expenses paid in 2007 - get reimbursement in 2008 -
Replies: 7
Views: 5224

I am a factual resident for Canada tax because my wife stays in Canada. Well, I guess if I want to use that sentence ( as most of us working is US is a US resident for tax purpose ) to get away from my Canada tax obligation, there are other factors CRA need consider such as my Canada citizenship, wh...
by octane99
Thu Mar 27, 2008 9:01 am
Forum: Canada / United States Tax & Accounting
Topic: Moving expenses paid in 2007 - get reimbursement in 2008 -
Replies: 7
Views: 5224

Nelson, Thanks for the reply. I checked the following link http://www.cra-arc.gc.ca/tax/individuals/topics/income-tax/return/completing/deductions/lines206-236/219/move-e.html Did you move between two locations outside Canada? Provided you met all other conditions and requirements, you can claim eli...
by octane99
Wed Mar 26, 2008 10:49 pm
Forum: Canada / United States Tax & Accounting
Topic: Moving expenses paid in 2007 - get reimbursement in 2008 -
Replies: 7
Views: 5224

Moving expenses paid in 2007 - get reimbursement in 2008 -

In order to balance my income tax, I did not claim all my within-US moving expenses in 2007 from my relocation company. When file Canada return, can I still deduct all the expensed I paid in 2007 ? I think I can, because next year I will get more income from reimbursement but no moving expense to de...
by octane99
Wed Mar 26, 2008 10:28 pm
Forum: Canada / United States Tax & Accounting
Topic: Moving Expenses (Read that somewhere)
Replies: 11
Views: 6636

No. You can't as CRA treat your canadian residence as your ordinary residence.
However, you can deduct your qualified moving expenses within US ( change job).
by octane99
Wed Mar 26, 2008 2:34 pm
Forum: Canada / United States Tax & Accounting
Topic: Report W2 to CRA - Box 10 and Box 14
Replies: 5
Views: 5358

Thanks

Thanks, Nelson. I guess Box 14 is included too as it is a tax-aid ( The company reimburse this taxable reimbursement to me, plus estimated tax generated because of this reimbursement). When you say the 401(K) contributions will not be reported as Canada income in 2008 and beyond, is there a rule cha...