Can someone tell me how long it takes on an average to get the NR6 approved?
Right now if I am living in my house, but have agreed to lease for 1 year starting in March, 2011 and have taken 1st and last month rent, do I send the 25% witholding right now, or starting in March?
Also, when do I file Form T1161 - List of Properties by an Emigrant of Canada?
When I leave on March 1st or next year with my income tax return or 216 return?
Thanks in advance for your help.
A question about NR6 / T1161
Moderator: Mark T Serbinski CA CPA
If you leave canada in 2011, you will report your deaprture return in spring 2011, along with your 216 elective return for your rental income.
Your Properties list is filed with your departure return.
I hear NR6 are taking a few months right now, so you will have to start with the 25% on gross until approval, starting with the march rent.
Your Properties list is filed with your departure return.
I hear NR6 are taking a few months right now, so you will have to start with the 25% on gross until approval, starting with the march rent.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
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NewCanadian
- Posts: 76
- Joined: Sun Mar 07, 2010 5:07 pm
In addition to Nelsona comments, I will share my experience.
1) Non resident account was set up by calling CRA international tax office by phone. Need to have lot of patience to call them repeatedly to get through the line even to get in the queue.
2) Once NR account is created, a max 45 days is allowed to pay 25 % advance tax of gross rent. Tax on rent received on 1 Jan is due no later than 15 Feb and so on. One day delay resulted in 3 % penalty and in few days the penalty max out to 10 %.
3) CRA "My payment" option allows to pay instantly using Canadian bank account which also gives copy of payment.
4) After first payment of 25 % gross tax to CRA was made , I received T1161 by mail from CRA asking details of properties in Canada.
1) Non resident account was set up by calling CRA international tax office by phone. Need to have lot of patience to call them repeatedly to get through the line even to get in the queue.
2) Once NR account is created, a max 45 days is allowed to pay 25 % advance tax of gross rent. Tax on rent received on 1 Jan is due no later than 15 Feb and so on. One day delay resulted in 3 % penalty and in few days the penalty max out to 10 %.
3) CRA "My payment" option allows to pay instantly using Canadian bank account which also gives copy of payment.
4) After first payment of 25 % gross tax to CRA was made , I received T1161 by mail from CRA asking details of properties in Canada.
[quote="nelsona"]If you leave canada in 2011, you will report your deaprture return in spring 2011, along with your 216 elective return for your rental income.
Your Properties list is filed with your departure return.
I hear NR6 are taking a few months right now, so you will have to start with the 25% on gross until approval, starting with the march rent.[/quote]
Thanks Nelson.
One question, do I report my Canadian income for Jan, Feb 20011 on the departure return or that is to be filed next year?
Your Properties list is filed with your departure return.
I hear NR6 are taking a few months right now, so you will have to start with the 25% on gross until approval, starting with the march rent.[/quote]
Thanks Nelson.
One question, do I report my Canadian income for Jan, Feb 20011 on the departure return or that is to be filed next year?
A person has collected rent for the past several years. In 2010, they moved to Britain, becoming a non-resident. They had not submitted their 25% to the federal government as they were unclear on their responsibilities, and owed no tax due to a rental loss on their property. Is there any way that CRA will allow a reduction on the penalty on the first filing?