Income reported and taxed on both T4 and W2

[shahzebasif]

Hi,

I've got a confusing situation. Basically, I worked in the US for five years.
But I moved back to Canada and am no longer a US permanent resident or a US tax resident.
I continue to work for a subsidiary of the same company I used to work for.

Part of my income is being reported on my W2 in addition to my T4.
The same income was taxed separately on both the Canadian and the US sides.

I'm unsure how to proceed. Should I:
- File US taxes as a non-resident and not show any foreign income on CA taxes?
- Reduce T4 income on CA return and show foreign income from W2?
- Give up filing myself and hope an accountant finds time to file my taxes for me?

I would really appreciate some help.

Thanks!
Shahzeb

[nelsona]

You follow the rules for each country.

You need to report ALL world income to the country where you live, and all income sourced to the other country, on theire tax return.

[shahzebasif]

Sure, that makes sense. But my confusion is that my T4 contains my entire income. But part of that income is also on my W2 and taxed separately there.

Would that mean that I don’t have to include that amount in my Canadian return as foreign income since the income on W2 is already included in T4 income?

[LaraMunz]

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[nelsona]

As I said, you need to report ALL your income in Canada, regardless, so your T$ is correct.

It is your US return that will only include a partial amount, likely the amount on your W2. Once you determine the tax on that partial amount (on your 1040NR) , you will be able to take credit for the US taxes as a foreign tax credit on your Cdn return.

But you do not get to exclude any income on your Cdn return, because you live in Canada.

[shahzebasif]

That does seem the most correct way to do my returns.

Thanks! Appreciate the help!

[aneeshbhaki]

Hi,
I am in the same situation. Can you please tell how did you do your taxes or who did you hire?
Thanks
Aneesh