Here is my question. I am a dual citizen, midway through the year I moved from Seattle to Vancouver but kept my job in Seattle and commuted. I want to declare my date of entry as July 1 into Canada.
Although my main residency split 50/50 between US/Canada, the company paid out bonuses in April thus my income is 65/35 between the two halves of the year. What income should I declare to Revenue Canada 50% or 35% of what is reported on my w2. Assuming 401K contributions, etc follow a similar logic.
Next question, it seems I cannot file electronically because Revenue Canada syncs my date of entry with the software, how do they get this should I call them or just print and mail my return.
Thanks
Moved to Canada Kept Job in USA
Moderator: Mark T Serbinski CA CPA
it is typically not possible to e-file a non-resident or part-year resident return to CRA, so paper it is.
As to what to report to Canada, it is quite simple: find the pay stub just before you became cdn resident. Anything over those numbers you report to CRA.
Your residency starting date, btw, is the day you got a place to live and started commuting. It is a matter of facts, not wants.
Remember to follw all the rules for "Newcomer", deemed acquisition, etc, including reporting the existence of any Roth or Roth401(k) and NEVER contributing to these roths after your return date.
there is a cra form also for determining what portion of your 401(k) contributions you can deduct in Canada.
As to what to report to Canada, it is quite simple: find the pay stub just before you became cdn resident. Anything over those numbers you report to CRA.
Your residency starting date, btw, is the day you got a place to live and started commuting. It is a matter of facts, not wants.
Remember to follw all the rules for "Newcomer", deemed acquisition, etc, including reporting the existence of any Roth or Roth401(k) and NEVER contributing to these roths after your return date.
there is a cra form also for determining what portion of your 401(k) contributions you can deduct in Canada.
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
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Thanks big help. I have 401K through work and will continue ton contribute and have a TD Waterhouse account, us bank accounts all tied to my Seattle address.
One day life may take us back to Seattle so I really don't want to give this up.
I once read that when you declare residency you should never intend to go back, but can't say this myself.
One day life may take us back to Seattle so I really don't want to give this up.
I once read that when you declare residency you should never intend to go back, but can't say this myself.