Search found 73 matches
- Sat Aug 06, 2022 9:36 am
- Forum: Canada / United States Tax & Accounting
- Topic: non-resident status in Canada
- Replies: 6
- Views: 1520
Re: non-resident status in Canada
To keep OHIP with the temporary move condition one has to make Ontario "your primary place of residence". This probably means that one has to pay federal and provincial taxes. But if we live in US then we are US residents filing federal and state tax returns. Is this double residency possi...
- Sat Aug 06, 2022 8:53 am
- Forum: Canada / United States Tax & Accounting
- Topic: non-resident status in Canada
- Replies: 6
- Views: 1520
Re: non-resident status in Canada
Thank you for your helpful info.
- Wed Aug 03, 2022 4:26 pm
- Forum: Canada / United States Tax & Accounting
- Topic: non-resident status in Canada
- Replies: 6
- Views: 1520
Re: non-resident status in Canada
Thank you for your answer. She would like to keep her OHIP health coverage (she is eligible for Medicare but is afraid it will be costly). Also, some things are simpler if you are a Can resident. For example, maintaining our home insurance. But considering your information we should think about movi...
- Wed Aug 03, 2022 9:21 am
- Forum: Canada / United States Tax & Accounting
- Topic: non-resident status in Canada
- Replies: 6
- Views: 1520
non-resident status in Canada
We, a couple, are Canadian residents. Both are retired. We have a house. I am a Canada citizen. My spouse has double citizenship. I've got a green card and will be moving to US (so I will be a US resident for tax purposes). My spouse wants to be a Canadian resident for tax purposes. To maintain this...
- Sun Apr 24, 2022 10:35 am
- Forum: Canada / United States Tax & Accounting
- Topic: US tax on selling property in Canada
- Replies: 3
- Views: 3927
US tax on selling property in Canada
I am moving to US from Canada leaving my house (currently my principal residence in Canada) as my vacation home. I am going to get a real estate FMP assessment of the property for any future transaction with the house. If I sell this house later on I have to report the capital gain or loss in Canada...
- Mon Nov 15, 2021 2:52 pm
- Forum: Canada / United States Tax & Accounting
- Topic: 5 month in Canada
- Replies: 5
- Views: 1524
Re: 5 month in Canada
Actually I am not playing both sides. I plan to move to US from Canada next year and become a US tax resident. After this, I want to spend summer months in Canada (about 4-5 months per year). I am trying to understand how to file my future tax returns in this situation. Of course, for simplicity I w...
- Sat Nov 13, 2021 12:52 pm
- Forum: Canada / United States Tax & Accounting
- Topic: 5 month in Canada
- Replies: 5
- Views: 1524
Re: 5 month in Canada
Currently there is automatic 10% tax withholding from my CPP payments. I am also planning to do some withdrawals from my RRSP account which will be subjected for automatic tax withholding. Can I just claim a FTC for this amounts on my 1040 without filing tax returns to Canada?
- Fri Nov 12, 2021 2:47 pm
- Forum: Canada / United States Tax & Accounting
- Topic: 5 month in Canada
- Replies: 5
- Views: 1524
5 month in Canada
If I live 7 months in US as a GC holder and 5 months in Canada (I am a citizen), I am obviously a US tax resident and file taxes in US. Do I also need to file taxes in Canada. My only income in Canada is relatively small OAS and CPP. Thank you.
- Sun Sep 19, 2021 3:58 pm
- Forum: Canada / United States Tax & Accounting
- Topic: deemed disposition for former principal residence
- Replies: 12
- Views: 5406
- Sat Sep 18, 2021 6:30 pm
- Forum: Canada / United States Tax & Accounting
- Topic: deemed disposition for former principal residence
- Replies: 12
- Views: 5406
deemed disposition for former principal residence
I am moving to US from Canada. I have a house where I have lived for the last 10 years. I do not plan to sell the house in the near future. I will use it for my returns to Canada during summer (or may rent it in the future). My new principal residence will be in US. This means I am converting my pri...
- Thu Aug 24, 2017 6:33 pm
- Forum: Canada / United States Tax & Accounting
- Topic: 15% tax rate on pensions
- Replies: 12
- Views: 9721
- Mon Feb 27, 2017 8:35 pm
- Forum: Canada / United States Tax & Accounting
- Topic: 15% tax rate on pensions
- Replies: 12
- Views: 9721
- Wed Feb 22, 2017 9:59 am
- Forum: Canada / United States Tax & Accounting
- Topic: 15% tax rate on pensions
- Replies: 12
- Views: 9721
- Tue Feb 21, 2017 4:34 pm
- Forum: Canada / United States Tax & Accounting
- Topic: 15% tax rate on pensions
- Replies: 12
- Views: 9721
15% tax rate on pensions
XVII 2(a) says that pensions sourced in the US will be taxed at 15% by the US if the recipient is a Canadian resident. I am a Canadian with 25K income from my 403(b) plan. I was taxed at 30% by the plan holder (TIAA-CREF) because it was a lump-sum withdrawal but not a periodic one. This income is re...
- Thu Feb 16, 2017 2:12 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Social Security payments
- Replies: 0
- Views: 2462
Social Security payments
Does anyone have experience in receiving SS payments to a Canadian bank? I have a BMO US$ account but was told that it can not be used for direct deposit from US. May be any other bank in Canada? Thank you.