Serbinski Accounting Firms

Hi,

I have lived in the USA in 2006 as a permanent resident. During thhe year I had to withdrawl 5000$ CDN to my CDN account. I was taxed at 25% witholding by my bank. I believe this satisfies Rev canada but do I have to declare this to the IRS as income? Is it tax treaty exempt? hat should I do ...

No..I did read it but called the International office about a Sec 217 question....blah blah...and they ended up telling me that I had the wrong form for Schedule 1 and to use the one with the surtax on it..I zeroed in on the surtax immediately and THEY thought I had tp pay it even though I told them ...

I am a non resident btw having moved to US in Oct 2005 but I see this surtax is for both non AND deemed residents..I may end up in the cardio ward after reading this...

Well I thought I had my taxes done...but then noticed I had used the T1 Special from Revenue Canada for Federal Tax Schedule 1. Of course according to the Rev Can. website I should have used just a T1.....

I thought I was getting a refund..but lo and behold!! Right under line 429 is a SURTAX for ...

I read the guide..Thanks Nelsona...My wife and I filed joint in the US and declared my CDN income..

I'm assuming then that I will file my CDN return as 1. My CDN income for 2005. 2. Mark "Married - Non resident US spouse" on the return and NOT declare her income to Rev Can. for 2005.

Correct ...

Um...said in an easier way...theer appears to be NO form for the 8891 to file electronically..She looked through the program list in the software... EVERY other bloody one was in there except the 8891....so is a paper file a must now?

Hi Folks..well my wife and I ended up going to JAckson Hewitt with our taxes for the US portion..more for her taxes than mine....my CDN return was fairly straightforward thanks to Nelsona and I did it myself....

Anyway..we wanted to file electronically..and my CDN income plugged in rather nicely on ...

Thanks Nelsona? Does the rest of my plan seem correct for my two returns?

I saw a line on my Cdn return for a T4RSP which I assume I don't need to do..I never received one of these slips anyway..

Best,

Kev

Sorry for my slow Thank You nelsona..I have been away...

So basically US RETURN...Going to file married joint, do I just exempt my Canadain income using form 2555 or 2555 EZ .......not sure of the difference, and claim RRSP's with form 8891" Missing anything????


Canada Return:..File a departure ...

Forgot to mention I am a permanent resident in the US with a green card, SSN, etc.

Hi Folks,

I left Canada to live with my USC wife on October 1, 2005. I have not secured a position yet in the USA so my income for 2005 is from my Canadian job and RRSP cash in. I canclled my drivers licence in BC and healthcare. I have no property in Canada.

The one thing is I worked for Canada ...

Thanks for the replies gentlemen. That wording she used is exactly the case and is what confused me. This is an excellent site and the professional advice given is much appreciated.

Thank you.

Best Regards,

Kevin

Maybe I'm just an idiot here and not getting something[xx(] My bank Manager told me that they (the bank) witheld 25 per cent after removal. For a 1000 dollar RRSP I receive 750.00...I assumed I would pay 25 per cent flat penalty at tax time from Rev Canada? Is she saying that in addition to this 25 ...

Excellent advice. I thank you for taking the time to answer my concerns and questions.

Best Regards,

Kevin

Hi,

Question similar to some below but just want to clarify.

I became a permanent resident of the US after moving end of September 2005. (CR1 spousal Visa)

1. I am not working as yet here and need to withdraw some RRSP funds.

Can I assume a flat 25% tax penalty on the amount withdrawn and that's ...