i am in us on tn visa. i do not rent or own any property in canada. i have a canadian bank account and credit cards. i have no investments.
i presently live in us. i got ssn and opened a bank account.
do i have to tell cra that i will not be a canadian resident for tax purposes or i simply just not fill canadian taxes for next 3 years of duration of the tn visa?
what tax rate in the us would i have to pay? i hope not 30%.
the us bank sent me w8ben form. will they withhold 30% off my checking account deposits? does this mean they will withhold additional tax from already taxed salary?
i thought if i don't have canadian residential ties, the us irs would tax me the same rate they tax us citizen/resident. i also thought that since i am not in canada any more, i don't have to report cdn taxes as i pay/report us taxes. is this correct?
tn visa
Moderator: Mark T Serbinski CA CPA
You are considered a departing Cdn, and must file a final departure return. Read the Emigrants gide on CRA website.
You are a US resident, so ypu wiill be taxed like any other US citizen. You submit a W-9, not a W-8.
Besides, only interest is taxable, not deposits.
You are a US resident, so ypu wiill be taxed like any other US citizen. You submit a W-9, not a W-8.
Besides, only interest is taxable, not deposits.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best