Serbinski Accounting Firms

My quick take on new Roth treatment; Roth becomes a pension, and thus will be taxed in canada to the extent that it is taxed in US, that is none. The language addressing Roths specifically refers -- I believe -- to the funding of a Roth by a Cdn resident. Such funding would NOT be sheltered. Again t...

It would be on the generated income, just like any other account. No account is ever taxed based on 'increase annual value' 529 makes sense if you are planning to stay in US. Even if your child studies in Canada you will pay no tax on any 529 money while YOU live in US. If you aren't planning to liv...

6 years is the rule of thumb.

Of course, actually determining what portion of your RRSP is not taxable is going to be quite difficult if you have not been tracking for all this time...

First, you have to determine what you actually owe to Canada. It should not be the 25% once you send in your 216 return. What ever tax you do end up paying and owing in 2006 will be available for use as either a foreign tax credit (against the net income your rental produces on your US return), OR a...

No. They must do it.

Currently 529 are not 'sheltered' in Canada, thus no tax is due on taking the money, since tax would be paid all along (in your hands) during the time it was held.

So, no tax at the end, but tax all the time you are in Canada.

As I pointed out then, 8223 is for those exempt from withholding for work performed in US. Some firms don't make the distinction, and some firms withhold even when they aren't supposed to (after all didn't your firm send you a W-9?) In such cases it may be necessary to use 8223 to hammer the point h...

W-8BEN

W-9BEN, giving them your SSN.

"Are US taxes withheld from US stock dividends paid to an RRSP?" Yes, and this has been a bigger and bigger problem over the years. There are cumbersome remedies. This doesn't harm you though, since your account doesn't have such protection (except for the fact that the withheld tax reduce...

I weas letting someone else have a go at this, but since no one else has, I'll give my *opinion*. As long as the dividend would qualify if it were paid out on the 'Cdn' stock (rememebr, not all dividends paid out by Cdn corps qualify for the tax credit) then you can calculate your own tax credit. No...

The treaty clause is XXV.

Now, this clause does state that Cdns can use the same method as an american. Of course, an american expatriate may actually have MORE requirements than a Cdn GC holder, so that may not be of so much use to you.

In any event, a letter will suffice.

... and in fact, you do not have to file 1040NR in your expat year, as a Cdn, and as a resident last year, you could just as easily file a 'normal' 1040 for your expat year.

Personally, I would simply go with a letter.

I'm pretty sure it is a remittance slip.

The NR-4 is something YOU get from your agent, at year end, showing what was withheld and sent to CRA.

Your agent should be doing this, yes.