Does Cdn bank account interest could as Cdn income for NR?

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woofington
Posts: 7
Joined: Sun Apr 14, 2013 8:04 pm

Does Cdn bank account interest could as Cdn income for NR?

Post by woofington »

Hello

I'm a Cdn tax non resident and have had no Canadian income with the exception of bank interest earned on checking/savings accounts with Canadian banks. (Moved from Canada to the US a couple of years ago).

Does this count as income and therefore I have to file a Canadian tax return just to declare this?

(Its declared on my US tax return, the amount is a couple of $K).

Thank you
nelsona
Posts: 18676
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Post by nelsona »

Non-residents don't pay Cdn tax on Cdn bank interest anymore. But, if they did, like in the past, then the tax woould be a flat rate tax taken off every payment, not reported on any Cdn tax return.


So, non-residents NEVER report interest on a Cdn tax return.
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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