junedejeune wrote:Canadians moving to the US MUST research the tax implications as well.
The tax implications hit you as soon as you move your tax home to the US, such as buggering up your CCPC, departure tax, declaring your RRSP etc. ad naseum, which is why when people ask on here I usually tell them to file as non-resident if they're in a non-immigrant category and are only going for a year or two. The downside is you still have to pay Canadian
taxes while you're in the US, but it does depend on your situation. If you own a car and a house and have an RRSP you don't really have a big problem with your
taxes moving to the US, however if you hold significant amounts of stock outside of an RRSP or own a CCPC that is worth anything significant, etc. you can get hit with
taxes big time.
Another caveat is that unfortunately the only definitive information you will get comes from the CRA and the IRS. I've read a lot of stuff on the web on tax sites that is definitely wrong and frankly some of the stuff I've posted was based on out-of-date information. For example the 2008 tax treaty and changes made by the tories to Part XIII tax and departure tax have changed things recently and even a lot of the tax publications are outdated.
I tried to make a list of all the possible forms you might have to fill in moving your tax home back from the US to Canada on here once and I can't remember how many there were but I'm sure I didn't list them all.
Steve.