Filing Taxes after filing an Exit return

[Colleens 40]

So last year I was able to collect my maternity benefits for the majority of the year. I filed my exit return the previous year for my last year in Canada. My accountant advised me that I should be able to file a return under a special election called a section 217. I ended up getting just shy of $3000 back!!!

So if you collect EI, cash in RRSP's or have any sort of income that the canadian govt witholds the 25% witholding tax it can be very beneficial to file another return.

[alizon 77]

Is that from filing another return after you returned to Canada? Would you have gotten that money back if you had remained in the US? Not sure I'm understanding...and I'm wondering if my husband will get that 25% back on his EI given that he'll be filing his exit return in early 2013.

Edited August 15, 2012 by alizon

[Colleens 40]

Is that from filing another return after you returned to Canada? Would you have gotten that money back if you had remained in the US? Not sure I'm understanding...and I'm wondering if my husband will get that 25% back on his EI given that he'll be filing his exit return in early 2013.

No, I filed this return while I was still in the US and I would have still got this money back had I stayed in the US. When you leave Canada the government takes 25% off of any of your Canadian earnings. They figure that amount will cover your tax bruden. But depending on how much you earn (you have to claim your US income and taxes as well) 25% may have been more then your fair share.

Many people recieve EI after the file their exit return and not many are aware that they can file a "special" return even after filing an exit return and possible get a refund. I was not aware of this at all until my accountant mentioned it. And like I said I got just shy of $3k back....so it can be fairly significant.