401k to RRSP - Canadian living AND working in the US

MessageSent: Tuesday, February 21, 2006 4:57 PM
To: taxman at centa.com
Subject: 401k to rrsp
i am 24 yr old canadian citizen working at microsoft in remond
wa - i currently do not have an rrsp in canada - this my first
job
i plan on returning to canada in a few yrs
should i contribute to a 401k or will it just lead to tax
problems upon return to canada - or is there an easy way to roll
401k to rrsp without loosing a lot of it in taxes
employer contributes 50% of what i contribute - $3000 per yr
would be their share
any advice would be appreciated
thanks
 ---------------------------------------------------------
david ingram replies:
Take t h h 401(K) it is totally to your advantage at this time.
The Canadian person who should NOT have a 401(K) is the Canadian
resident who commutes to work in teh USA while continuing to live
in Canada.
In this case, Canada does NOT recognize the 401(K) as a tax
deduction and double taxation results.
David Ingram's US/Canada Services
US / Canada / Mexico tax, Immigration and working Visa
Specialists
US / Canada Real Estate Specialists
Home office at:
4466 Prospect Road
North Vancouver,  BC, CANADA, V7N 3L7
Cell (604) 657-8451 -
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Calls welcomed from 10 AM to 10 PM 7 days a week (please do not
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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
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