Definition of world wide income for Canadian section 217

[cakik55]

Hello, I need a help..

I am considering of withdrawing some money from my RRSP. I am a Canadian who lives in US with my green card since June 2021 and have been married to a US citizen.
I am trying to get a lower tax on the withdrawal than 25% withholding tax to elect section 217 if I am eligible.. just simple question, the world income for section 217 means my household income (both of my husband's income and mine) or just mine? We are filing tax return jointly in US if it does matter.

[nelsona]

It is just your income, as Cdns do not file joint returns in Canada.

But you may include your spouse's medical expenses when calculating your deductions, which can allow you to take more of your RRSP at a zero or low interest. 217 is usually only beneficial if you are not working.

[LucilleLoveland]

I remember when I moved to a different state and had to figure out my tax situation all over again. It's like a whole new world of forms and regulations! As for your question, I believe the world income for section 217 typically refers to your household income, including both yours and your spouse's. Double-checking with a tax expert might give you a clearer picture, though. Oh, and speaking of clarity, have you ever tried using apps to manage your finances? I stumbled upon this one that's known as the best app to make money by playing games. It's a fun way to earn a little extra cash while staying on top of your finances.

[LucilleLoveland]

I remember when I moved to a different state and had to figure out my tax situation all over again. It's like a whole new world of forms and regulations! As for your question, I believe the world income for section 217 typically refers to your household income, including both yours and your spouse's. Double-checking with a tax expert might give you a clearer picture, though. Oh, and speaking of clarity, have you ever tried using apps to manage your finances? I stumbled upon this one that's known as the best app to make money https://wealthofgeeks.com/apps-that-pay ... lay-games/ by playing games. It's a fun way to earn a little extra cash while staying on top of your finances.

[nelsona]

No, it does not involve household income. Cdns do not file joint returns. Please do not post misinformation as part of your spam

[tortoletkaschaem]

Navigating tax laws can be a real maze, especially when crossing borders like moving from Canada to the US. It's important to understand how different sections like section 217 work, particularly if you're looking to minimize your tax burden on RRSP withdrawals. [url=http://wazambacasino.edu.gr/]wazamba casino[/url] It's interesting to note that in Canada, you don't file joint tax returns, which can impact how you calculate your worldwide income. Just keep all these factors in mind as you plan your financial moves, and it might be wise to consult a tax expert for personalized advice!