QUESTION:

Hi, My wife and I have lived in the UK for the last 6 years and are declared non
canadian resident. We both have RRSP. We want to take our RRSP and find out
about withholding tax.
Do you know how much it is and if it can be claimed back? Is there an
agreement between the two countries? Thank you

QUESTION:

Hi, My wife and I has leave in UK for the last 6 years and are declare non
canadien resident. We both have RRSP. We want to take our RRSP and found out
about withholding tax.
Do you know how much it is and if it can be claimed back? Is there an
agreement between the two contry? Thank you

Dear Mr. Ingram,

In one of your previous replies to other inquiries, you mentioned it is difficult to immigrate to Canada as an employee after the age of 55. What about immigrating as an investor? I read somewhere that you could deposit a certain amount of money with the Canadian government, in exchange for immigrant status, and you can get the money back after 5 years, with no interests earned. Is there an age limit for this type of immigrants? How involved a process will it be?

My second question is: if we were to immigrate to Canada, we would be getting U.S. income in the form of pensions (from employer, not social security). Is this taxable in Canada?
Thank you very much for your help.

Hello David,

I've been a telephone client of yours in the past. Today, in a message to the list, you said:

>>If you you have not lived in Canada for 20 years after turning 18, you can NOT collect your OAS out of the country
You WILL get a small CPP pension based upon your 13 years in Canada no matter where you live.<<


I wonder if there is a way that my wife can become eligible for CPP and/or OAS when it is time to retire.
- She is now 43yrs old. She was a Canadian resident from 1982 - 2001.
- As a Canadian resident, she contributed to CPP for 19 years until we moved to the USA in 2001.
- From 2001 to the present she has been contributing to US Social Security.

We plan on staying in the US for the foreseeable future. However, we are not opposed to the idea of moving back to Canada, or becoming residents for tax purposes, if it would be beneficial to her.

I should also mention that we have Green Cards. She cannot become a US citizen because she already has dual citizenship in Canada and England and the US would require her to relinquish one of those passports in order to become a US citizen.

Thanks David

First, Pension I read that it's possible to top up your pension years if your short
so it's possible to get full pension.

I lived in Canada for 13 years from age 18.
is it worth while to pay up my cpp for 7 years
so I can get full pension 65 ?
I now live in the us with over 10 years of pension earnings
so I will get full pension here. Would I be paid two pensions
by paying up my cpp ?

Second, I believe I may own rev can some money from 12 yrs
ago do I need to worry about it ? I think I read
about rev can having some amnesty programme.

I don't think I will ever live in Canada again as
a tax resident. I may visit for a few months.
In fact I'm considering leaving here (usa) for some cheap
warm year round location at retirement time.


Thanks,

Hi,
I am a citizen of the USA but have been living in Canada for 22 years. I am a landed immigrant/permanent resident of Canada. I go back to the US fairly often. If I become a Canadian citizen what would be the advantage/disadvantage for me? Does the US Government frown upon this & would it cause me any problems when entering the US or any other type of problems? One advantage would be I would not have to reapply for a Permanent Residence Card in about 5 years, I think. Any information you can give me would be greatly appreciated.

Thank you.

I moved to Blaine, WA in June 2005 on a PR Visa from
Vancouver, BC. I am a teacher in Delta and still am presently
teaching in Canada. Do I file my taxes in Canada, the US or both?

Your information to this question is greatly appreciated.

I have purchased a commercial and residential-mix building consisting of 3 residential suites and 5 office or commercial suites which generates gross revenues of approximately $2,800.00 per month. When I took possession of the building, I moved into one of the suites day 1 of ownership, so use this building as my principal residence while renting the other spaces. If I sell this building, what portion will be considered as having a capital gains tax consequence and what portion of my renovations/maintenance/improvements costs can be considered as a write off? Secondly, can my labor as property manager be taken into consideration as an expense for tax write off purpose? I am looking forward to your reply Ozzie. Thanks in advance:)

My question is: Canadian-specific

QUESTION: In November of 2005 I aquired a property. In December 2005 I had
large offer on the property which would give me 300,000 in capitol gains.
What would the tax implications be if I sold it now versus 1 year later (ie.
after owning it for a year)..or is there any difference?