Serbinski Accounting Firms

No more answers necessary.

Hi,

It's a long time ago but if memory serves, my wife was asked to provide a Letter of Guarantee to Revenu Quebec. I believe she deposited the money in a GIC which was kept in an account at TD Canada Trust. The idea was that when she returned to Quebec, she would get the money back.

Ok, ignore the above.

I saw your reply to william67 "about CRA needing reminding".

So I assume that means a letter of sorts.

Thanks.

Well you pointed out the applicable Article of the US-Canada tax treaty dealing with capital gains 10 years after leaving. I'm wondering what to do with the CRA continuing to ask if any stocks have been sold last year even though we left Canada over 10 years ago. Since 12 years has passed, I was ass...

Hi,

So today my wife received CRA Form RC171 asking if any stocks were sold during 2018. It is now 12 years since we left Canada so CRA is either unaware
or not concerned with Article XIII(5) of the U.S. tax treaty.

What should we do?

Send them a letter pointing out the Article XIII?

Thanks for the referring me to Article XIII(5) of the U.S. Canada tax treaty. It does seem quite clear that taxation can occur for only 10 years following departure. My wife and I left Canada in 2007 for the U.S. , so the 10 year limit has been passed. However, CRA still sends us a form annually ask...

Thank you.

Hi, I'm a US resident who is planning to open an account with MTFX in order to periodically transfer payments from my Canadian RRIF into a US checking account. MTFX are asking for copies of 1) Canadian passport, 2) US drivers license, 3) Canadian checking account statement and 4) Copy of a US utilit...

saldanch,

It appears that you and I are in the same situation on this. If you wish to converse privately on this, please contact me at wmwilliam67@gmail.com

Just out of curiosity, which one of the 4 Parts of 3520 is applicable to a U.S. person who is the executor of a Canadian estate?

If I were to remain the executor, one of my duties would be to file a "final" Canadian tax return on my mother's behalf and pay all remaining Canadian taxes from the estate. I'm assuming that the estate would still be my mother's and the estate would be "resident" in Canada. So C...

I'm in exactly the same situation as the OP. U.S. resident, listed as executor for mother's estate in Canada. I am seriously considering in refusing to be executor for reasons listed above. My sister is listed as a second in line if I refuse and she is Canadian resident. However, I am a beneficiary ...

I am a resident of the US with a RRSP back in Canada. Every year I file a T1 and elect to file under section 217. The withdrawals are under $20,000 and I have no employment income so it advantageous for me to do this. In Schedule A, World Income, we are asked to report interest, dividend, and capita...

Ok, mystery solved.

In 2015, Medtronic moved it tax residency from the U.S. to Ireland. Thus,
the U.S. / Can Tax Treaty no longer applies.

Assuming that there may be an analogous tax treaty between Ireland and
Canada. Will try to get additional info on this.

I am a U.S. resident Green Card holder from Canada. I left my RRSP in Canada with TD Waterhouse. For some strange reason, TD started applying the 15% NRT on dividends from a particular US stock I own in my RRSP (Medtronic - MDT). I have other US stocks and no NRT has ever been applied. I phoned up T...