TN status, taxes and ObamaCare
Moderator: Mark T Serbinski CA CPA
- I'll empty out my TFSA
- I don't need to get a NJ driver's licence because I won't be driving here
- I'll speak with Service Ontario for OHIP continuation when I'm in Canada this weekend
- On my 2016 filing, I'll indicate the date I left Canada. I have no US income in 2016 so that simplifies things
- Everything else remains as is
Do you think I've missed anything? Does RRSP remain non-impacted?
- I don't need to get a NJ driver's licence because I won't be driving here
- I'll speak with Service Ontario for OHIP continuation when I'm in Canada this weekend
- On my 2016 filing, I'll indicate the date I left Canada. I have no US income in 2016 so that simplifies things
- Everything else remains as is
Do you think I've missed anything? Does RRSP remain non-impacted?
You only report to IRS when you take money OUT of your RRSP.
It is generally not wise to contribute to RRSP while non-resident, since you aren't taxable in Canada. You could do the late contribution for 2016 up until March 1. But you need to check with your RRSP manager, and you need to tell them your US address.
It is generally not wise to contribute to RRSP while non-resident, since you aren't taxable in Canada. You could do the late contribution for 2016 up until March 1. But you need to check with your RRSP manager, and you need to tell them your US address.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing
An update/FYI for people in the same boat:
I went to ServiceOntario to keep my OHIP card active. A couple of people weren't sure about the exact rules, but I also called to confirm. You can reach out to ServiceOntario after you've left Canada, and can keep the card active for up to 5 years at a time and for the same foreign country. If you return for any amount of time (after your contract, and without getting additional employment), you'd have to live in Ontario for a certain amount of time to be able to reapply for keeping the card active.
They require proofs of your Canadian address, your passport, a letter from your foreign employer stating your start and end dates, and a ServiceOntario form (Change of Information). They don't accept photocopies of the employer letter and the form.
This information can be submitted in person at some ServiceOntario locations as well as via mail:
ServiceOntario (OHIP Absences)
435 James Street S
Suite 113
Thunder Bay, ON
P7E 6T1
I went to ServiceOntario to keep my OHIP card active. A couple of people weren't sure about the exact rules, but I also called to confirm. You can reach out to ServiceOntario after you've left Canada, and can keep the card active for up to 5 years at a time and for the same foreign country. If you return for any amount of time (after your contract, and without getting additional employment), you'd have to live in Ontario for a certain amount of time to be able to reapply for keeping the card active.
They require proofs of your Canadian address, your passport, a letter from your foreign employer stating your start and end dates, and a ServiceOntario form (Change of Information). They don't accept photocopies of the employer letter and the form.
This information can be submitted in person at some ServiceOntario locations as well as via mail:
ServiceOntario (OHIP Absences)
435 James Street S
Suite 113
Thunder Bay, ON
P7E 6T1
Another question that popped into my head: How exactly would the departure tax work?
I'll be retaining my house in Canada. I have transferred money out of the TFSA, and I have a small RRSP account. Beyond this I have a car (~$20,000) and other personal items not more than $10,000. Technically, nothing with capital gains.
I'll be retaining my house in Canada. I have transferred money out of the TFSA, and I have a small RRSP account. Beyond this I have a car (~$20,000) and other personal items not more than $10,000. Technically, nothing with capital gains.
Then it will be simple. But do realize that you will not be able to claim exemption from gains on your house in Canada after you leave. This will result in some gains atx when you sell, but only on the portion after you've left.
CRA has instructions for departure returns, and ufile, for one, handles these returns correctly.
CRA has instructions for departure returns, and ufile, for one, handles these returns correctly.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing