Search found 11 matches

by tyronen
Sat Apr 15, 2006 1:10 pm
Forum: Business & Personal Immigration to Canada
Topic: Sponsorship from outside Canada
Replies: 0
Views: 2174

Sponsorship from outside Canada

I am a Canadian citizen; my wife is a Sri Lankan citizen. We live in the USA, where I am working on TN-1 visa. I don't plan to return to Canada for several years, if at all.

Is it possible for me to sponsor my wife for permanent residency in Canada without actually living there?
by tyronen
Fri Dec 16, 2005 6:41 pm
Forum: Canada / United States Tax & Accounting
Topic: Education savings options
Replies: 5
Views: 2407

It appears that they've changed the rules. Earlier this year the requirement seemed only to be that the individual held a SIN. I went to CCRA's site to verify; now it says "under proposed changes...if the [beneficiary] is resident in Canada when the designation is made". The document is dated "last ...
by tyronen
Wed Dec 14, 2005 2:55 pm
Forum: Canada / United States Tax & Accounting
Topic: Education savings options
Replies: 5
Views: 2407

Thanks for the info. Actually, my brother <i>is</i> a Cdn resident so there should be no problem. I was doing more research and came across another suggestion: US savings bonds, now paying an incredible 6.7 percent and effectively tax-deferred until redemption. Can I still hold these if I move out o...
by tyronen
Tue Dec 13, 2005 6:09 pm
Forum: Canada / United States Tax & Accounting
Topic: Cross border investment challenges?!
Replies: 14
Views: 5933

I had a TD Waterhouse RRSP before I moved to the US in 2000. I've been able to trade freely in Cdn and US stocks and Cdn mutual funds. The only restriction is they won't permit online trades for US residents, though they'll give you the online commission for phone trades. I asked a rep once about th...
by tyronen
Tue Dec 13, 2005 5:57 pm
Forum: Canada / United States Tax & Accounting
Topic: Education savings options
Replies: 5
Views: 2407

Education savings options

I am on a TN-1 in Illinois. We are expecting a son in January. Our tentative plan is to remain in the US for 5-6 years and then return to Canada, but that could change. Thus we don't know for sure whether we will be in the US or Canada at the time our son goes to university, nor which country he wou...
by tyronen
Fri Jul 22, 2005 8:08 pm
Forum: Canada / United States Tax & Accounting
Topic: Buying house in the USA
Replies: 1
Views: 1706

Buying house in the USA

My wife and I (TN/TD holders) are considering buying a house in the USA. The hitch is that there is a good chance we will eventually be returning to Canada. If we do that, we could either sell our US house or rent it out. If we rent out a US property while living in Canada, would we pay Canadian tax...
by tyronen
Tue Apr 26, 2005 8:13 pm
Forum: Canada / United States Tax & Accounting
Topic: Box 6c
Replies: 1
Views: 1738

Box 6c

This box appears to be saying that people who have never filed 2002-23 before can use this single form to defer taxes on RRSP income for every year until they distribute, while those who have are stuck filling out this form every year. Is that correct?
by tyronen
Sun Mar 20, 2005 12:09 am
Forum: Canada / United States Tax & Accounting
Topic: Nondeductible IRAs and returning to Canada
Replies: 3
Views: 3132

Nondeductible IRAs and returning to Canada

I understand that in the US, the contribution portion of nondeductible IRAs is not taxed on withdrawal. If I were to return to Canada, would CCRA give it the same treatment? Or would I be in effect subject to double taxation on the contributions, paying Cdn taxes on money already taxed in the US? As...
by tyronen
Tue Mar 01, 2005 6:08 pm
Forum: Canada / United States Tax & Accounting
Topic: keeping 401k and IRA after moving to canada
Replies: 53
Views: 26312

I phoned Ameritrade (considering opening an account there) and they <i>said</i> all they require is a few forms if a US account holder moves to Canada. Of course, what they say and what they do may be two entirely different things. I read on another thread that TD Waterhouse does <i>not</i> do this,...
by tyronen
Sun Feb 27, 2005 1:54 pm
Forum: Canada / United States Tax & Accounting
Topic: Catch-22 for ITINs
Replies: 1
Views: 3019

Catch-22 for ITINs

My wife entered the US as a TD last year. We wish to open an IRA for her. However, brokerages require either an SSN or ITIN. She's not eligible for an SSN, and needs to file a tax return to get an ITIN. Hence the catch-22; we need to make the IRA contribution <i>before</i> filing the tax return in o...
by tyronen
Fri Feb 11, 2005 8:27 pm
Forum: Canada / United States Tax & Accounting
Topic: IRAs and returning to Canada
Replies: 18
Views: 7900

IRAs and returning to Canada

I am on a TN-1 and (for now) plan to stay in the US for at least five more years. I have a 401k with my employer (with about $7K) and an Ameritrade traditional IRA (with about $18K). Last year I got married, so now find myself eligible to open a Roth IRA. In addition, I can open a traditional IRA fo...