Departure From Canada

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.

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nickiew
Posts: 2
Joined: Thu Mar 08, 2018 11:41 am

Departure From Canada

Post by nickiew »

Hi there,

I’m departing Canada in 2017 and I’m confused about what assets are deemed to be disposed. I have Canadian RRSP, and Canadian non-RRSP funds. Looking at the form it seems clear that only the non-RRSP funds are taxed.

However, I also have a US IRA/401K, US stocks outside a tax-sheltered vehicle and a limited partnership for which I normally get a K-1 slip for. Are these US investments deemed to be sold as well?

Thanks.
nelsona
Posts: 18314
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Post by nelsona »

All are subject to deemed disposition except the RRSP, 401(k) and IRA, which are considered pensions and are thus excluded.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
nickiew
Posts: 2
Joined: Thu Mar 08, 2018 11:41 am

Post by nickiew »

Thank you so much for this. Very much appreciated.
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