Serbinski Accounting Firms

If there has been some time between the death and the inheriting of the RRIF, there might be some tax withheld in your name, but only on the post-death increase. If that is the case, then you would report the taxable amount on your US return and claim the tax on form 1116 against any US tax that wou...

There should be no withholding on the TFSA proceeds. However, the RRIF would have had some tax withheld, but in in the name of the deceased, not you. Since these would appear to be improperly withheld, the recourse is to file an NR7-R with CRA, after your NR slips are sent to you. You may also want ...

Our original poster described the ambiguity. Your CPAs consultants have described the ambiguity.

I would follow the rules of the RC, and you will the answer for your case in April after you file.

Look. What do you think I man by living arrangements? Were you in a hotel? Were you bunking at a friends? Did you have a home in US at the time? That is a primary criteria for determining RESIDENCE, if you have a RESIDENCE in one or both countries. Its more important than any of the information you ...

Didn't I just say that!!

So, as mentioned above, there seems to be a disconnect between determining the DEDUCTIBILITY of 401(k) contributions, which IS limited to current year RRSP contribution limit, and the EFFECT of 401(k) contributions, on the NEXT YEAR RRSP limit. It *should" be a 1-to-1 reduction for each dollar ...

You need to determine when you stopped being a vistor stranded in canada and when you became a commuter, and thus subject to tax on world income.

you did not describe your LIVING arrangements. I didn't ask about days spent in canada (you already mentioned these) , which by treaty doesn't really matter.

What were your living arrangements in canada for all these years?

cra gave guidance on this and allowed those who would not normally be considered resident, to remain non-resident. search covid in this forum and you will find the mechanics for ensuring you are compliant with the special regs for those years, but in essence you will not have to report any world inc...

Your withdrawals UP TO your limit, should be 15%, and THEN 25%. Of course if you take an initial withdrawal for the year of more than your limit, the entire amount is withheld at 25% with no recourse to reduce.

If they overwithhold, you would then need to submit a form to get the other 10% back. the next tax year.

The ITCIA section 5, on the definition of a periodic pension withdrawal is quite clear.

Google and Show them that.

I'll leave that to you. It also depends on how your company set up the LIRA.