Dual Citizenship in 2021

[Canadian Newbie]

Hi all-

My wife and I were granted Canadian citizenship in 2021. Now Dual Citizens of CDN and US.
From all I can gather, there is nothing in the US/Canada treaty that will not change the treatment of my income which is simple-

US Social Security-Reported but no tax on my US return and I get the 15% deduction on my CDN return.
Wife gets US based Govt pension-Report on T1 and take the FTC on my CDN return...limited to the 15% rule but I am nowhere near that rate.
Interest Income-Both US and CDN interest income will be reported and taxed on my T1. I take the US FTC for both US and CDN interest. CDN interest is resourced due to Canada not allowing a credit.

That it.
As I said, my becoming a Canadian citizen will not change the mechanics of my reporting.
Hearing from the experts here will help me file my returns without lingering doubts!!
Thanks in advance.

[MsTunnelCoin762]

Welcome (belatedly) to Canadian citizenship...!

My two cents, it appears you are intending to ask a question or two but it (they) are not readily apparent from your posting, in the hope of yielding responses you may want to re-phrase in the form of specific inquiries...

All the best!

[Canadian Newbie]

Thanks for responding.

My core question is-

Will my becoming a dual citizen have any effect on my filing under the tax treaty? My guess is no. I file the same way I did prior to becoming a dual citizen.

Thanks again.

[nelsona]

It is the US bank interest that is re-sourced 1116, not the CDn.

The CDn interest is reported as passive income 1116, since it is Cdn-sourced, ie. foreign passive income.

You are correct that your Cdn citizenship changes nothing on your tax returns... assuming that you have been doing them correctly, which from this and your other posts may not quite be the case.

[Canadian Newbie]

Thanks for responding Nelsona.
Sorry for my error in listing my reporting regarding my interest income sources.

I do report the CDN interest income as foreign passive income on 1116.
I do report my interest earned in the US as re-sourced.

Thanks again.