Contribute to RRSP after declaring non-res?

[xmarcus]

If I declare myself a Cdn non-res for tax purposes on 12/01/04 for example, can I do an RRSP contrib for 2005?

Of course, I wouldn't be doing a 2005 tax return but I would still benefit by having the income from those investments protected from tax.

Thanks

[Carson]

<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica" id="quote">quote:<hr height="1" noshade id="quote"><i>Originally posted by xmarcus</i>

If I declare myself a Cdn non-res for tax purposes on 12/01/04 for example, can I do an RRSP contrib for 2005?

Of course, I wouldn't be doing a 2005 tax return but I would still benefit by having the income from those investments protected from tax.

Thanks
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">

If you have the contribution room, you can make a contribution, BUT, why would you do so? If you are not filing a 2005 return, you won't be getting a tax benefit from the contribution (unless you plan on filing again in Canada in the near future), while the eventual withdrawal of the funds will be subject to a 25% withholding rate (if you are a non-resident) or potentially higher if you are a resident of Canada once again.

Do you not have any better options where you are now a resident?

Carson