Serbinski Accounting Firms

nelsona, you've been very helpful here and I was wondering if it'd be possible to have a short phone conversation with you in order to iron out a few details regarding what I've learned about Canadian treatment of Roth IRAs and investments.

Would that be possible?

With these "deemed disposition" tax rules, are you telling me that I'd be taxed on any investment I owned as of the day I'd leave Canada, and then be taxed on it again in the future when they're sold while I'm a resident of the USA? It doesn't make much sense to me that I'd be taxed on the...

<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica" id="quote">quote:<hr height="1" noshade id="quote"><i>Originally posted by nelsona</i> I said that CRA on a case-by-case basis is granting permission to defer the tax th...

<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica" id="quote">quote:<hr height="1" noshade id="quote"><i>Originally posted by nelsona</i> As I said earlier, current treatment of Roths by CRA is analogous to IRS treatment...

Yes, I'm a US citizen who most likely will be moving to Toronto in 6 months. And yes, I'd think that if I live in Canada for 30 years while I contribute to the Roth IRA, as long as I move back to the US to retire, I'd be able to pull the money out tax free. That's why it's so important to me that I'...

Thanks for all the help here. One more question... Say I move to Canada and maintain my Roth IRA in the US for the next 30 years (I'm 28 now). I make annual contributions to it, and I receive permission in the manner you described from the Canadian taxing authorities to have the tax on it deferred u...

Thank you for all your help... just one last question.

How would I apply to the CRA to gain that treatment on my Roth IRA so that the tax is at least deferred until it is taken out?

I've now been told by a different Chartered Accountant in Toronto who deals with these types of issues that a Roth IRA is treated just as a Traditional IRA is in Canada, and that while they are not tax free forever like they are in the US, Roth IRAs are not taxed until the funds are distributed as t...

Thanks... not good news for me. IS the income on a Roth IRA still taxable to me if I'm living in Canada even though I'll maintain it in an American financial institution and remain an American citizen filing a US Tax Return? Converting from a Roth IRA to a Traditional IRA can be done, and it is call...

I am a US Citizen who may be permanently moving to Toronto in six months. I won't be obtaining Canadian citizen status, nor will I give up my US citizenship. I'll be a US citizen living and working in Canada. I'm a CPA and I understand the tax aspects of the move (filing in both countries, taking a ...