I am getting ready to complete my Canadian Departure Tax Return for 2007. If put my departure date on the return to indicate when I left Canada for good and include this form T1161 List of Properties by an Emigrant of Canada , will this be sufficient for the CRA. Also, do they request that you submit a NR-73? (A determination non-resident status)
I left Jan 1, 2007. My only remaining ties to Canada are car registration, bank account, one credit card, and a Canadian Passport. Will these secondary ties pose a problem?
I do not own any property in Canada except for a car. How will they determine what the exit tax will be if you do not have any assets? Has anybody else been thru this? Any info would be greatly appreciated.
Canadian Departure Tax
Moderator: Mark T Serbinski CA CPA
Do NOT file the NR73 unless they explicitly request it.
Secondary ties are not an issue without primary ties.
There is no departure tax unless you have accrued capital gains on assets that you own when leaving Canada. Unless your care is a collector's item, it is unlikely there is a gain in value.
So, without assets, your departure return will effectively only show your departure date and will include any income you earned on January 1.
Secondary ties are not an issue without primary ties.
There is no departure tax unless you have accrued capital gains on assets that you own when leaving Canada. Unless your care is a collector's item, it is unlikely there is a gain in value.
So, without assets, your departure return will effectively only show your departure date and will include any income you earned on January 1.
I made the mistake 5 years ago and sent in a NR73. At that time they said that I was still considered a Canadian resident because I had significant ties to Canada. However, my circumstances have since changed. I have severed all primary ties except the above mentioned secondary ties. Will this be a problem? Thanks in advance.
I have passport, bank account, credit card, as do most expats, surely.
About the car registration, now. If you own a vehicle that's actually in Canada (in storage or loaned to a friend or relative?) I very much doubt that would count as a residency tie. However, is it possible that you brought the car to the US with you? If so, it's probably not legal to keep it registered in Canada. Generally, if someone moves to the US with a car, the car needs to be formally imported, titled and tagged in the US.
About the car registration, now. If you own a vehicle that's actually in Canada (in storage or loaned to a friend or relative?) I very much doubt that would count as a residency tie. However, is it possible that you brought the car to the US with you? If so, it's probably not legal to keep it registered in Canada. Generally, if someone moves to the US with a car, the car needs to be formally imported, titled and tagged in the US.