When do I become liable to file a Canadian Tax return? -
years, first as a student and now on work visa. During the years, have filed
yearly US tax return. In the US, i have a home, families/relatives, I schooled
here, and my whole life is centered here, but I am neither a US citizen nor US
green card holder. In December 2005, I landed as a Canadian immigrant,
stayed 4 days in Canada to get paper work done and retuned baack to US. Our plan
is to return to Canada later this year, or early next year for good. I have no
ties to Canada, other than just being a landed immigrant, ie. no home,friends,
etc...nothing. New country to us. I applied to Canada so that when my visa is up
in US, we can move to Canada to start a new life, but this came rather earlier
than we expected, and Canadian government gave us until December 2005 to land,
hence we did so. I work for a US subsidiary of a European company in the US,
which have offices in Canada, so I can somehow work out a transfer to take care
of finding a job when we eventually move to Canada. Hence, my only income is
from the US (has always been). I have always filed and paid US taxes for
over 10 years I have lived here. Do I have any tax liability to Canada, since I
have no ties until I finally move? Thx.
-__________________________________________________
david ingram replies:
As described, you have no tax liability to Canada. However, to exercise your right to live in Canada, you have to be physically present in Canada for 24 months out of the 60 months following the date you landed in Canada.
That means that you have to move to Canada by Dec 2008 and 'STAY HERE'. If you intend to do any traveling away from Canada after your move here, you have to move sooner.
_____________________________________________________________
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-__________________________________________________
david ingram replies:
As described, you have no tax liability to Canada. However, to exercise your right to live in Canada, you have to be physically present in Canada for 24 months out of the 60 months following the date you landed in Canada.
That means that you have to move to Canada by Dec 2008 and 'STAY HERE'. If you intend to do any traveling away from Canada after your move here, you have to move sooner.
_____________________________________________________________
david ingram wrote:
Calls welcomed from 10 AM to 9 PM 7 days a week Vancouver (LA) time - (please do not fax or phone outside of those hours as this is a home office)
$1,600 would be for two people with income from two countries
David Ingram expert income tax help and preparation of US Canada Mexico non-resident and cross border returns with rental dividend wages self-employed and royalty foreign tax credits family estate trust trusts income tax convention treaty
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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
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Be ALERT, the world needs more
"lerts"
David Ingram gives expert income
tax & immigration help to non-resident Americans & Canadians from
New York to California to Mexico family,
estate, income trust trusts Cross border, dual citizen - out of
country investments are all handled with competence &
authority.
Phone consultations are $400 for 15 minutes to 50
minutes (professional hour). Please note that GST is added if product remains in
Canada or a phone consultation is in Canada.
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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