Dual citizen working remotely for US company in Canada

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remokam
Posts: 1
Joined: Wed Feb 03, 2021 3:13 am

Dual citizen working remotely for US company in Canada

Post by remokam »

Hi,

I'm new to this forum, so I apologize if this has already been asked.

I'm a Canada-USA dual citizen currently living in California, working for an American company. I have the opportunity to return home to Toronto and work remotely for the same California-based company (on a permanent/long-term basis). The company has an established entity in Canada, so it is likely I would be paid in CDN dollars. On my US paycheque, I currently have deductions for Social Security, EI, and 401k contributions. Any idea how these would be dealt with from both US/Canada tax perspectives if I decide to avail the remote work opportunity in Toronto?

My company also gives compensation in the form of restricted stock units. How would these be taxed?

Also, if I have the opportunity to continue being paid in USD, is it more advantageous to do so, or is it better to be paid in CDN$ from a tax perspective.

Many thanks in advance for your help!
nirvana_1959
Posts: 63
Joined: Fri Mar 18, 2016 9:17 am

Re: Dual citizen working remotely for US company in Canada

Post by nirvana_1959 »

On the options you will have to talk a tax accountant. Much depends upon how the instrument is defined.

For the rest if you're returning to Canada for good you can look into something called totalization. You can use the time spent in US to get credit in Canada. Check this out: https://www.ssa.gov/international/Agree ... anada.html
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