Serbinski Accounting Firms

I've read all the threads and I'm aware of the different options using either the Foreign Tax Deduction or Foreign Tax Credit. Also aware that the taxable amount is not the same as the RRSP distribution.

I am in a situation where my distribution (Year: 2016), in USD, is smaller than the Cost-Basis ...

This story has gone a long way since then: I've recoved some of my money (federal, but not Quebec yet), and I've sued the Notary for interests and damage. Its insurer are offering a settlement.

I don't want to give too many public details at this point, but they argue the following point as ...

Thanks Nelsona.

http://www.cra-arc.gc.ca/tx/nnrsdnts/ndvdls/lvng-eng.html

"When you leave Canada, you are considered to have disposed of certain types of property at their fair market value and to have immediately reacquired them for the same amount. This is called a deemed disposition, and you ...

Obviously meant Feb 2016 in the last paragraph.

Hi all,

Feb 2009 - Bought principal residence house for $169 000 (Quebec)
Feb 9, 2015 - Bank evaluates house at $231 000
March 12, 2015 - Left Canada with family to go work in California under TN Status.
April 21, 2015 - Sell house for $224 900

Canada:
T2091 : 0$ because of real estate agent ...

1. So converting to RRIF and retiring everything in a lump sum will result in net taxation of 10% * 15% + 90% * 25% = 24%. Not much but could be worth while if your RRSP is large and you are ready to go through the trouble.

Hello,

I've been reading almost all posts regarding RRSP and the best course of actions in order to minimize tax. I will be moving from Quebec to California in ~March.

Questions are:

1. If I convert to RIFF before leaving, I will be able to withdraw at 15% tax instead of 25%. I read everyone that ...