Canadian citizen non-resident return to n -
QUESTION:
An individual has been a non-resident for 5 years, resident in Switzerland, teaching at an international school. He has paid Swiss taxes. He filed a Can.tax return for 2006 as a non-resident, covering income earned in Canada in 2006 from teaching a summer course at a Can. university. Employment in Switz. ended July 2007. He returned to Canada end of June as a visitor. A plan to return to work in Europe has not progressed. The question is: does he need to leave Canada and re-enter to resume residency? Or, can he use the June date as his date of return? There is also a small pension involved . And a Swiss bank account with savings. He wants to resume residency in the correct manner so your comments will be very much appreciated.
david ingram replies
If the individual does not leave the couintry, his or her date of return will be the day he or she reentered Canada.
The only paperwork necessary is to fill in a return date on the top of the front page of the 2007 T1 General.
His income up to the date of re-entry does not go on the Canadian return. Only any interest or earnings after his return in June.
The only exception about paperwork is if he left a lot of goods in Switzerland and now ants to bring his goods home as returning settler's effects. In that case, he should make up a list as soon as possible and stop at a CRA Customs office and tell them he has decided to stay in Canada and is bringing his goods back. After five years away, he gets to bring a lot of stuff back with little problem.
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This is not intended to be definitive but in
general I am quoting $800 to $2,800 for a dual country tax return.
$800 would be one T4 slip one W2 slip one or two
interest slips and you lived in one country only - no self employment or rentals
or capital gains - you did not move into or out of the country in this
year.
$1,000 would be the same with one rental
$1,200 would be the same with one business no
rental
$1,200 would be the minimum with a move in or out
of the country. These are complicated because of the back and forth foreign tax
credits. - The IRS says a foreign tax credit takes 1 hour and 53
minutes.
$1,500 would be the minimum with a rental or two in
the country you do not live in or a rental and a business and foreign tax
credits no move in or out
$1,600 would be for two people with income from two countries
$2,800 would be all of the above and you moved in
and out of the country.
This is just a guideline for US / Canadian
returns
We will still prepare Canadian only (lives in
Canada, no US connection period) with two or three slips and no capital
gains, etc. for $150.00 up.
With a Rental for $350
A Business for $350 - Rental and business likely
$450
And an American only (lives in the US with no
Canadian income or filing period) with about the same things in the same range
with a little bit more if there is a state return.
Moving in or out of the country or part year
earnings in the US will ALWAYS be $800 and up.
TDF 90-22.1 forms are $50 for the first and $25.00
each after that when part of a tax return.
8891 forms are generally $50.00 to $100.00
each.
18 RRSPs would be $900.00 - (maybe amalgamate a
couple)
Capital gains *sales) are likely $50.00 for
the first and $20.00 each after that.
Just a guideline not etched in
stone.
This from "ask an income trusts tax and immigration expert"
from www.centa.com or www.jurock.com or www.featureweb.com. David Ingram deals on a daily
basis with expatriate tax returns with multi jurisdictional cross and
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