NR4 Questions

mel0526 · Post by **mel0526** » Sun Mar 01, 2009 9:56 pm

Hi,

I received a NR4 from my Canadian bank account with 0$ tax paid on the interest. Do I have to send a check to Canada for the tax on it? How it work?

Also, I moved back to Canada December 18, 2008 than I will do a tax report in Canada and Quebec from that date with only my Canadien earning the interest from my bank account starting 12/18. And Quebec told me I have to use prorate all the "fix" amount with the number of days I was back, do it's right?

Thanks.

nelsona · Post by **nelsona** » Mon Mar 02, 2009 7:42 am

Foreign residents are no longer, since jan 01, 2008, taxble in canada on their Cdn bank interest. the NR4 was provided for you to know how much interest you received (you'll need to report this on your 1040).

Both for Canada and QC you will need to prorate your credits to 13/365ths of the basic amonut. I suggest using ufile.ca to do this. It will be free and it will correctly calculate your tax return as a returnong resident.

mel0526 · Post by **mel0526** » Mon Mar 02, 2009 10:07 am

Thanks Nelsona. Your answers help me a lot. :)