Search found 4 matches

by atye13-mohan
Wed Jun 18, 2014 10:58 pm
Forum: Canada / United States Tax & Accounting
Topic: Which Canadian account types must close after leaving Canada
Replies: 9
Views: 7248

Hello nelsona Thanks for your prompt reply. Need a bit more clarification with regards to your statement about filing a departing return for your province and not a NR return. I simulated my 2013 return in a tax software and went through the series of questions answering the residency question with ...
by atye13-mohan
Wed Jun 18, 2014 3:11 pm
Forum: Canada / United States Tax & Accounting
Topic: Unused Capital Loss in Canada
Replies: 1
Views: 1523

Unused Capital Loss in Canada

What options are available if one has unused capital losses from prior years in Canada and is soon going to become a US resident. There are no offsetting capital gains in Canada. Can it be carried over to the US tax return? Does one have to keep filing a return in Canada identifying the losses in ho...
by atye13-mohan
Wed Jun 18, 2014 2:13 pm
Forum: Canada / United States Tax & Accounting
Topic: Which Canadian account types must close after leaving Canada
Replies: 9
Views: 7248

Hello Nelsona I contacted a few brokers and TD Waterhouse and Questrade seem like the best options. Each will allow you to hold on to your RRSP and continue trading as well with some restrictions ( e.g. no mutual funds, no GIC's, no online-trading only through a broker). I made the HBP repayment wit...
by atye13-mohan
Tue Jun 10, 2014 12:31 am
Forum: Canada / United States Tax & Accounting
Topic: Which Canadian account types must close after leaving Canada
Replies: 9
Views: 7248

Does it mean that one can no longer contribute to RRSP in the year that one becomes a non-resident? One may want to contribute to RRSP in the same tax year to reduce income taxes, is that not possible after leaving Canada. Aside from reducing taxes one also needs to pay back HBP withdrawal, so broke...