Canadian accounts for NR

This is our main tax information forum which deals with topics concerning Canadians living and working in the U.S., U.S. citizens contemplating working in Canada, and all aspects of Canadian and U.S. income tax and related adminstrative issues.

Moderator: Mark T Serbinski CA CPA

Post Reply
lgbgbt88
Posts: 17
Joined: Wed Jan 25, 2017 1:06 pm

Canadian accounts for NR

Post by lgbgbt88 »

Hello,

I'm a non-resident of Canada. I have a rental property in Canada (as an investment) and still kept some of my accounts. For the past few years, I have been reporting:
- US: employement income, CAD rental income, CAD capital gains from stocks & interests and declare all my accounts via FBAR
- CAD: only CAD rental income

Question - do I need to report capital gains from stocks and interests gain on the Canada side as well given im NR?

Thanks!
Top
nelsona
Posts: 18381
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Re: Canadian accounts for NR

Post by nelsona »

No.
I trust you are reporting your net rental income on a 216 return?

Your portfolio investments are not considered "Canadian" any longer, as you paid your deemed disposition tax when leaving Canada. Note that you are not supposed to maintain a brokerage account in Canada when living in US.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
Top
Post Reply

Return to “Canada / United States Tax & Accounting”