Stopping HST cheques

[NikLR 13,232]

I called and stopped them AND sent back the cheques. Which they sent BACK to me, AGAIN.

[Rob & Monika 87]

Their site does say that if you have moved, and you receive a payment, to contact them "immediately". It looks like they prefer either mail or fax, since they hide their calling numbers deeper in their website. Mailing doesn't sound very immediate though.

I don't think it matters whether you put married or single, since you are now deemed a nonresident. There are a lot of things we wished we knew about before the move in regards to how CRA treats non residents. I think the big one was finding out that if you plan on cashing out your RSPs...to do it before you move. The fee jumps from 10% to 25% for nonresidents. I think you have to close out your TSFA's too, it' hard to remember...tax season was such a blur.

[GermanCanadian89 7]

I brought all my savings with me before the visa was finalized...

LMAO @ NLR - of course they would resend you the money, they want you to owe them, stupid gov't!

I'll call Monday now since I just got back from groceries and everything... I started to fill the form out, I don't know if I'm over thinking it but, it's confusing - as everything else with the govt is!

[mrs thb 331]

.

There are a lot of things we wished we knew about before the move in regards to how CRA treats non residents.

I think the big one was finding out that if you plan on cashing out your RSPs...to do it before you move. The fee jumps from 10% to 25% for nonresidents.

I think you have to close out your TSFA's too, it' hard to remember...tax season was such a blur.

Holy.....really? Oh my gosh!!! 10% to 25%????

How soon should you do this prior to moving???

They take some time to be cashed in, right?

[Rob & Monika 87]

I'm not entirely sure about the 10% before moving, from what I'm looking at now it looks like it's based on your "marginal tax rate", which I think for our case ended up being 10%. But yes, the nonresident rate is a flat 25% to withdraw funds before retirement. We haven't cashed it out, so i don't know how long it takes. It can't hurt to read up on all the tax implications of moving to the US. The departure tax / deemed dispositions is one you will face. If you leave anything behind in Canada, it may have to be reported on extra tax forms to the IRS. Generally the advice is that if you plan on permanently relocating to the US, to cash everything out and take it with you, otherwise your US taxes can be very messy.

[GermanCanadian89 7]

Anything they pay out after your departure date, CRA will ask to be reimbursed. There is a form you have to fill out to inform them that you have left the country and are no longer a resident.

I think its the NR73 on this page. It also has departure tax information.

http://www.cra-arc.gc.ca/tx/nnrsdnts/ndvdls/lvng-eng.html

Question!

Departure tax? I have to pay a tax for leaving?!

[Rob & Monika 87]

It's a capital gains tax. For instance, if you own stocks, normally you claim your capital gains when a stock is sold. But when you move to the US, your capital gains are now taxable by the US. This does 2 things for you, it gives Canada their taxes on the gains (instead of the US when you sell), and it gives you a new purchase price to base your US capital gains on.

This applies to anything you could potentially make money off of from buying and selling that has a capital gains tax, that includes any property that was not your primary residence.

[NikLR 13,232]

They finally figured out the GST/HST credit was cancelled.... Thankfully I had all the money in a Canadian account waiting for this moment. And I paid it off as soon as I got the letter.