Canada tax info

[zyggy 9]

Just a note...on that page it says if you aren't a resident, use the non-resident forms. However, when I called the International Tax office yesterday to ask for clarification, they told me that because I moved last year(2005), I would still use the forms from my former province for that year.

When in doubt best to call Canadian International Tax office, # is 1-800-267-5177

just called them and they told me the opposite - told me to use the non-resident forms.

Nope... you use the resident forms as you are filing a return for the months that you were resident in Canada.

If you subsequently have Canadian Income that you owe non-resident taxes on (i.e. income on rental properties), you would then file a non-resident tax return.

Too complicated

so here are some questions:

FACTS:

Married Sept 17

Both my husband and I had jobs, his in USA & mine in Canada (self employed)

We both have condos in Toronto that we rent out.

QUESTIONS: Do I have to file as married? Can I not still file as single?

Has anyone every dealt with outstanding first time home owners loan (cashing in RRSP's for first time homeowners). I was told today, that I needed to pay the Cdn government back all of the o/s money or declare it as income. EEK

Why are people on this website discussing EI. Can one collected EI in the USA without having to work here first (like in Canada?). I have recieved my US work permit last week, and will look for a job, but being 5 1/2 mos pregnant is going to make things complicated.

Thanks.. I might use the advise previously suggested about hiring a tax expert

1) That is correct, if you took money out of your RRSP for a home loan or education, you can either pay the money back into your RRSP or you can declare the amount as income. You will need to attach a statement to that effect to your T1.

2) FIle your EI claim immediately. If you file within a month of your leaving your job, the claim will begin from that date. If you file later, the claim will begin from the date that you filed the claim.

Also, you cannot get EI for pregnancy or child care from the US. Only regular benefits are eligible to be paid in the US for only 36 weeks.

[zyggy 9]

Just some more information

Which tax and benefit package should you use?

Use the package for the province or territory where you lived before you left Canada in 2005.

From CRA Guide T4056 http://www.cra-arc.gc.ca/E/pub/tg/t4056/t4...html#P230_19076

[Deb&sean 0]

...

1) That is correct, if you took money out of your RRSP for a home loan or education, you can either pay the money back into your RRSP or you can declare the amount as income. You will need to attach a statement to that effect to your T1.

.... KIND OF A CATCH 22 things since both my bank and RRSP advisor can not sell me any RRSP's while I am out of the country..

2) FIle your EI claim immediately. If you file within a month of your leaving your job, the claim will begin from that date. If you file later, the claim will begin from the date that you filed the claim.

Also, you cannot get EI for pregnancy or child care from the US. Only regular benefits are eligible to be paid in the US for only 36 weeks.

.....I think that since I was self employed, I am not eliglible for EI. But thanks anyway.

THANKS

[zyggy 9]

...

1) That is correct, if you took money out of your RRSP for a home loan or education, you can either pay the money back into your RRSP or you can declare the amount as income. You will need to attach a statement to that effect to your T1.

.... KIND OF A CATCH 22 things since both my bank and RRSP advisor can not sell me any RRSP's while I am out of the country..

2) FIle your EI claim immediately. If you file within a month of your leaving your job, the claim will begin from that date. If you file later, the claim will begin from the date that you filed the claim.

Also, you cannot get EI for pregnancy or child care from the US. Only regular benefits are eligible to be paid in the US for only 36 weeks.

.....I think that since I was self employed, I am not eliglible for EI. But thanks anyway.

THANKS

1) Guess you're declaring it as income then... but you only have to declare the amount that you still need to pay back

2) Did you pay EI premiums... If so, then you are... If not, then you're not...

3) If you are getting rental income, your rental agency or financial institution will deduct the 25% non-resident tax on the rental income. You need to declare the income as other income on your US 1040 and then take the 25% back as a tax credit by filing Form 1116.

Edited February 16, 2006 by zyggy

[Mishy_BC 0]

Hey when filling out the form 1116, can we claim deductions for CPP, EI, RPP or union dues??? Or only the income tax deducted. I want the most bang for my buck

And I don't know about you guys but Turbo Tax online seems to do a good job of dealing with the foreign issue.

[Mishy_BC 0]

Just a heads up...if you go to www.ufile.ca it will figure out the calculations for you as far as being a resident part of the year. You can't e-file because of the marital status change. But if you tell it that you are single, with no change in marital status and tick the box that says "Immigrant, emigrant or non resident taxpayer " it figures out all the calculations according tohow long you were in the Country. It's a free service ifyou make under a certain amount of money so you can then print off the return and use it to fill in the blanks of the mail in forms. Saves a lot of hassles and for me it figured out CPP overpayment etc. which I wouldn't have known. Give it a try. And again I say, Turbo Tax online does do all the right calculations for foreign tax credit.

[Mishy_BC 0]

Just a heads up...if you go to www.ufile.ca it will figure out the calculations for you as far as being a resident part of the year. You can't e-file because of the marital status change. But if you tell it that you are single, with no change in marital status and tick the box that says "Immigrant, emigrant or non resident taxpayer " it figures out all the calculations according tohow long you were in the Country. It's a free service ifyou make under a certain amount of money so you can then print off the return and use it to fill in the blanks of the mail in forms. Saves a lot of hassles and for me it figured out CPP overpayment etc. which I wouldn't have known. Give it a try. And again I say, Turbo Tax online does do all the right calculations for foreign tax credit.

Actually I went through it again, more detailed you can enter your spouse and his income, everything correctly and it still does the same calculations. It asks if they are a resident, and ifyou want to put detailed or basic information. It's a really good program, I've used it for years.

[Flames9_RN 358]

http://www.intuit.ca/store/en/quicktax/ind...XZIK5QFIAMPSFFA

I found Quicktax very easy to use, especially if you were deeming non resident for the whole 2005. And you can try it for free, then copy it into a paper copy!!

[zyggy 9]

Hey when filling out the form 1116, can we claim deductions for CPP, EI, RPP or union dues??? Or only the income tax deducted. I want the most bang for my buck

And I don't know about you guys but Turbo Tax online seems to do a good job of dealing with the foreign issue.

Only the income tax...

[KJ79 0]

so what are the repurcussions of not informing them that you've left? i mean, i became a permanent resident of the US Dec 2 20005. it is so tempting to just do my taxes as if i was an alberta resident for all of 2005.

(no, i'm not suggesting i'm going to do anything illegal). just seems like they would still get their fair share of taxes.

[Flames9_RN 358]

so what are the repurcussions of not informing them that you've left? i mean, i became a permanent resident of the US Dec 2 20005. it is so tempting to just do my taxes as if i was an alberta resident for all of 2005.

(no, i'm not suggesting i'm going to do anything illegal). just seems like they would still get their fair share of taxes.

Your taxes for 2005 will be prorated til lthe day you ceased to be a Cdn resident, in ur case dec 2 2005, so you will get most of the yr covered.

[KJ79 0]

so what are the repurcussions of not informing them that you've left? i mean, i became a permanent resident of the US Dec 2 20005. it is so tempting to just do my taxes as if i was an alberta resident for all of 2005.

(no, i'm not suggesting i'm going to do anything illegal). just seems like they would still get their fair share of taxes.

Your taxes for 2005 will be prorated til lthe day you ceased to be a Cdn resident, in ur case dec 2 2005, so you will get most of the yr covered.

i LEFT canada june 7 but became a perm resident of US dec 2. would it make more sense to put dec 2 as the date i emigrated? since technically, i was a canadian resident in the US on a visa until that point.

what do you all suggest?

[Flames9_RN 358]

Disregard my earlier psot then, i thought u left Canada in Dec. My mind is fried from studying chemistry, so not sure which is better. cheers

[ceriserose 1]

so what are the repurcussions of not informing them that you've left? i mean, i became a permanent resident of the US Dec 2 20005. it is so tempting to just do my taxes as if i was an alberta resident for all of 2005.

(no, i'm not suggesting i'm going to do anything illegal). just seems like they would still get their fair share of taxes.

Your taxes for 2005 will be prorated til lthe day you ceased to be a Cdn resident, in ur case dec 2 2005, so you will get most of the yr covered.

i LEFT canada june 7 but became a perm resident of US dec 2. would it make more sense to put dec 2 as the date i emigrated? since technically, i was a canadian resident in the US on a visa until that point.

what do you all suggest?

I specifically asked them this question, a year before I moved.

For tax purposes, the day you left the country to come live in the US is the day you left Canada. For tax purposes, Canada doesn't care about the exercises and semantics the US Gov't puts you through.

They go by when you were not living on Canadian soil, not your residency 'status' per the government.

Hope that helps!

[Mishy_BC 0]

Anyone get their T4 for EI yet?