NR4s

[aga010607]

Hi,

I moved from Montreal to Buenos Aires where I'm working now. I've received a number of NR4 slips from Canada since I'm no longer a resident there. I've been told NR4s are to avoid double taxation. Had some questions about them:

1) What do I do with the NR4s??
2) Where does the tax withheld in NR4s go??
3) Is it possible to get the tax in the NR4s back once I return to Montreal??
4) If I send money to Canada and invest it in say a Mutual Fund, will I get taxed for the full investment amount or for the gain of the investment??

Thanks in advance for any help with these questions. Take care. Alex

PS: Any Canadians in BA??

[agnelson]

Need to know what the NR4 income was: was it interest, was it cap gains. What tax year is it for? Did you file your non-resident tax return yet.

Ansers to the above will determine how NR4 should be treated.

[Steven]

1) You use them usually to complete whatever tax return you file wherever you live. It's the equivalent of a T5.
2) To the Canada general revenue fund. Part XIII tax on simple bank interest was abolished a couple of years ago, so if that's what has been withheld, that was a mistake and you'll have to ask the CRA to refund it, use form NR7-R.
3) Not if it was correctly withheld, because it's a non-resident tax and you were non-resident when it was withheld. What often happens is that the bank or whatever carries on spitting out NR4s after you come back and you've told them you're resident again, you can get that money back by putting in a claim with your T1.
4) Well you're resident in Argentina now, so it will be subject to whatever taxes Argentina places on those investments. You would need to make the investment through an Argentinian financial institution as you are no longer resident in Canada for tax purposes based on what you've said.

Have a read of: http://www.cra-arc.gc.ca/tx/nnrsdnts/menu-eng.html