Search found 272 matches
- Wed Mar 16, 2016 3:37 pm
- Forum: Canada / United States Tax & Accounting
- Topic: another question on moving rrsps
- Replies: 36
- Views: 13035
another question on moving rrsps
I was at the bank today discussing our options. Periodic pension payments as we would have with RRIF payments are actually not taxed at all for UK residents, unlike the 15% rate in the US. This seems like a good way to do it, especially as our UK income wont be high and so the tax shouldn't be too h...
- Thu Mar 10, 2016 5:34 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Collapsing RRSP after leaving Canada
- Replies: 13
- Views: 5801
Well, we are moving to the UK so that would be retirement investments in 3 countries. The UK doesn't recognize the RRSP as tax deferred which is likely OK as long as we don't go over the capital gains exemption but the longer it grows, the more likely we will. Plus I have heard nelsona say over and ...
- Thu Mar 10, 2016 1:26 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Collapsing RRSP after leaving Canada
- Replies: 13
- Views: 5801
- Wed Mar 09, 2016 6:21 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Collapsing RRSP after leaving Canada
- Replies: 13
- Views: 5801
- Wed Mar 09, 2016 3:29 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Collapsing RRSP after leaving Canada
- Replies: 13
- Views: 5801
- Wed Mar 09, 2016 3:28 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Collapsing RRSP after leaving Canada
- Replies: 13
- Views: 5801
Yes, I would definitely wait until after we were non-resident. I assumed we would tell our RRSP custodian our new address right away so they will know. I can see how there could be advantages to leaving it here, but I see it being a hassle long-term. Would like to have a simpler financial life if we...
- Tue Mar 08, 2016 5:29 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Collapsing RRSP after leaving Canada
- Replies: 13
- Views: 5801
Collapsing RRSP after leaving Canada
Sounds like this may be the best thing to do. Together we have about 70K or so and moving it out of Canada would be simplest. -I know that I should wait until we have left Canada. If we leave the country July 28, can we move it July 29? Or should we wait longer to make sure we are considered non-res...
- Mon Mar 07, 2016 3:45 pm
- Forum: Canada / United States Tax & Accounting
- Topic: using carryover foreign tax credits in the future
- Replies: 2
- Views: 1828
- Sat Mar 05, 2016 5:00 pm
- Forum: Canada / United States Tax & Accounting
- Topic: using carryover foreign tax credits in the future
- Replies: 2
- Views: 1828
using carryover foreign tax credits in the future
I have not yet had an opportunity to use these. If I did, can they be used to offset general or passive income, regardless of how they were generated? Or does it have to correspond with how they were earned? And would pension or other retirement income be considered general or passive income?
- Thu Mar 03, 2016 5:20 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Self-employment income in US and tax
- Replies: 14
- Views: 5275
- Thu Mar 03, 2016 12:22 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Self-employment income in US and tax
- Replies: 14
- Views: 5275
Wow, that seems confusing. So are you saying if I was just Canadian, and I made income in the US, Canada would not tax it? It's only taxed because we are US citizens? That can't be right. As for your second post, when I entered the income into my Canadian return as foreign income, but with no foreig...
- Thu Mar 03, 2016 11:53 am
- Forum: Canada / United States Tax & Accounting
- Topic: Self-employment income in US and tax
- Replies: 14
- Views: 5275
- Thu Mar 03, 2016 10:41 am
- Forum: Canada / United States Tax & Accounting
- Topic: Self-employment income in US and tax
- Replies: 14
- Views: 5275
- Wed Mar 02, 2016 6:28 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Self-employment income in US and tax
- Replies: 14
- Views: 5275
- Wed Mar 02, 2016 6:17 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Self-employment income in US and tax
- Replies: 14
- Views: 5275