Question: Is the Guaranteed Income Supplement paid to a US PR resident in Canada taxable on his/her US tax return? ----------------------------------------------------------------- -------------------------------------------- If you are living in Canada, no part of FICA (Social Security). OAS, CPP or the GIS is taxable in the US under Article XVIII(5) of the US / Canada Income Tax Convention as of Dec 1, 1995. (there was a retroactive change made in about July 1997 to that effect. And, of course, if you are living in the States, everything is subject to US tax and you should not be getting the GIS so it would not be taxable in the US. And, of course, number 2 - the GIS is not taxable in Canada either but because it is clawed back as your income increases, the clawback is extreme taxation in and of itself. ======================== David Ingram's US / Canada Services US / Canada / Mexico tax, Immigration and working Visa Specialists US / Canada Real Estate Specialists My Home office is at: 4466 Prospect Road North Vancouver, BC, CANADA, V7N 3L7 Cell (604) 657-8451 - (604) 980-0321 Fax (604) 980-0325 Calls welcomed from 10 AM to 10 PM 7 days a week Vancouver (LA) time - (please do not fax or phone outside of those hours as this is a home office) email to taxman at centa.com www.centa.com www.david-ingram.com Disclaimer: This question has been answered without detailed information or consultation and is to be regarded only as general comment. Nothing in this message is or should be construed as advice in any particular circumstances. No contract exists between the reader and the author and any and all non-contractual duties are expressly denied. All readers should obtain formal advice from a competent and appropriately qualified legal practitioner or tax specialist for expert help, assistance, preparation, or consultation in connection with personal or business affairs such as at www.centa.com. If you forward this message, this disclaimer must be included." Be ALERT, the world needs more "lerts" -------------- next part -------------- An HTML attachment was scrubbed... URL: http://www.centa.com/CEN-TAPEDE/centapede/attachments/20060624/d26013a5/attachment.htm
