Green Card Canadian in USA....Tax Implications?

JeffinDallas
New Member



Joined: 22 Sep 2007
Posts: 1
Location: Dallas

Posted: Sat Sep 22, 2007 10:09 am

 

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Hello

Well, I finally got my green card for my permanent residence in the USA. I had been living in Canada but am now 100% living and working in the US.

I really can't tell what my Canadian tax implications are now. Since I am 100% living and working in the US, do I stop paying Canadian taxes? Any thoughts or references sites out there I can take a look at to try and figure this out?

Thanks.

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Reba
Moderator


Canuck in NC

Joined: 16 Jul 2004
Posts: 1451
Location: North Carolina

Posted: Sun Sep 23, 2007 7:56 am

 

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That depends on your financial situation in Canada. Do you still have bank accounts, investments, property and RRSPs in Canada? If so, then yes, you will have to file income tax reports in Canada, as well as the US.

If you have severed ALL financial ties with Canada, then no, you won't have to file or pay taxes there. With your next Income Tax report, you'd file that as normal, and there's a check box on the form somewhere that says something like you are no longer a resident in Canada, and this will be your last one.

If you do still however have money tied up in Canada, I'd suggest a tax accountant who would be familiar with the Canada/US tax agreement, so that you don't get double dinged.
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TNVisaExpert
Moderator


Canadians helping Canadians

Joined: 02 Apr 2007
Posts: 147
Location: San Diego, California

Posted: Mon Sep 24, 2007 10:59 am

 

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Also, here is an article on Expatriate Tax Status for Canadians to get you started.

Congrats on being able to live in the U.S. permanently.
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flames9
Senior Member



Joined: 08 Mar 2007
Posts: 113
Location: Falls Church VA

Posted: Tue Sep 25, 2007 3:11 am

 

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One can keep RRSP's in canada and depending on which state you live in you wont have to pay taxes on it! What one does is fill out a form 8891. What this does is notify to the IRS that u have RRSP's in canada. When/If you take them out, then they will nab u with the taxes! But some States wil tax you every yr, so best to check with ur State! VA didnt tax me on them. But finding a competent tax guy is probably a good bet for the 1st few yrs in the USA

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