Serbinski Accounting Firms

Hi Nelsona,
My wife works in US, and I works in Canada for a couple of years. We think we won’t benefit from joint file tax.

I’m working on the T1-ADJ and had a question regarding how I should indicate my residence on December 31, 2016. I was physically living in the US on that day and thus, I ...

Hi Nelsona,

I plan to submit my T1 Adjustment Request. There are so many items to be updated, as I have to correct my status from resident to non-resident for last year to CRA.
1. If I change my status from resident to non-resident in Canada for 2016, should I revise my US tax from 1040NR to 1040 ...

Thank you for your response. I understand your point of view on bullet 1 and where CRA is coming from. Here is my situation: My family have been living in the US. I left Canada, began working in the US, and joined my family in August 2016. I referred to the determination rules published on the CRA ...

Hi nelsona,
Thanks for the reply. I find actually I can do these to avoid more mistakes.
1. I plan to use January 1, 2017 as the date when I become a non-resident in Canada. This is because for 2016, I filed tax resident for Canada and non-resident for US(1040NR). But starting from January 1, 2017, I am a US tax resident by filing 1040. Is my understanding correct?
2. I will send my NR6 ASAP. I’ve reported my whole year rental income, along with my global income in both Canada and US, as Canadian resident in 2016 already (and thus paid a lot of income tax). So I don’t have to do S216 for year 2016. Is my understanding correct?
3. Reading “Leaving Canadaâ€￾ section on the CRA website, I understand that I need to complete T1161, since I have real property in Canada. However, the deemed disposition section mentions that real property is one of the exceptions for deemed disposition, i.e., when the tax payer left Canada, holding a real property will not result in deemed disposition and potentially CGT payable. In such circumstances, do I still need to submit T1161? If so, how should I estimate the FMV (Fair Market Value)?

Thanks. I can have a good sleep night.

Hi nelsona,
I am a Canadian and TN visa holder, working in US since last August. I thought I should always file 1040NR and Canada Resident Tax rest of my life just like I did last year. I am totally wrong. You just opened a whole new world to me (by this link). I think I (and my accountant) messed up my tax return last year. I never know there are such things like “NR6â€￾, “NR4â€￾, “Section 216â€￾ in this world.
There is my action plan:
1. I will mail NR6 immediately to report I rented my condo to my tenant. My tenant always does direct deposit to pay rent. I can leave “Section 4 - Canadian agent identificationâ€￾ blank, can’t I? In the other word, I don’t need a Canadian agent. Correct?
2. I have to wait CRA’s reply from my NR6. Then I can mail my NR4 and Section 2016. Correct? Otherwise how can I send 25% withhold to CRA?
3. I didn’t do the exit date in my 2016 tax return. Do I need to send “T1 Adjustment Requestâ€￾? I plan to put my exit date as 2016-08-30 (or 2016-12-31) under “Other details or explanationsâ€￾ section. Is it necessary to do?
4. I wrongly deposited $10k to my TSFA two month ago. I find I can’t do it if I am non-resident in Canada even I have the room carrying from previous year. I plan to withdraw it and pay $200 (1% per month) as interest by Form RC243.
That’s all my findings that I spend all Canada Day and US Independence Day doing the homework after you sent the link….
Many thanks

Hi Nelsona,
I am a Canadian working in US on TN visa since 2016. I am planning to file US tax resident, Canada tax non-resident for year 2017. I want to make sure I am qualified to do so.
Here is my Canadian background
1. My family and I are not and won’t stay in Canada in 2017.
2. I have a ...

Thanks.

Thanks for quick reply. But why it didn't?

I guess I missed some numbers when I did my tax return. I put 10k in line 207. Also, 10k is in line 5125 in RC268. What anything else I should do? I just worried I will be punished by CRA.

Many thanks

I use TN Visa working in US. I contributed 10k to 401k in 2016. I filed my tax return: Non-resident in US, and resident in Canada. I have a question whether my 401k contribution (10k) should be deducted from RRSP deduction limit for next year?

Recently, I received my Notice of Assessment from CRA ...

I am a Canadian. I work on TN visa for a US company at moment. I filed 1040NR for last year. And I filed Canadian Resident for Canada. I find TN holder can request U.S Social Security/Medicare tax exemption under Totalization Agreement for the first 5 years in US. Is it correct? I just want to make ...