Tax impact when leaving Canada to live in USA

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achadiliNew Member
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Posts: 2
Topics: 1
Joined: 24 Jul 2011

Tax impact when leaving Canada to live in USA

Post Sun Jul 24, 2011 10:14 am

I just got my green card and would like to move permanently to the USA. I am selling my home but still have the following assets:

- RRSP
- RESP
- Bank Accounts
- Life insurance

I was told as long as you sever all ties (Residence, driver license, OHIP card, credit cards, membership cards, etc ...) and change accounts to be non resident accounts I should be considered as a non resident for Canada taxes purposes. Is this correct?

Thanks for helping me clarify this.

Al
Last edited by achadili on Mon Oct 24, 2011 6:33 am, edited 1 time in total.
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AGNCanuckAbroad VIP
Posts: 818
Joined: 21 Jun 2011

Re: Tax impact when leaving Canada to live in USA

Post Sun Jul 24, 2011 11:29 am

I answer these at forums.serbinski.com
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achadiliNew Member
Topic author
Posts: 2
Topics: 1
Joined: 24 Jul 2011

Re: Tax impact when leaving Canada to live in USA

Post Mon Oct 24, 2011 6:35 am

I would appreciate if someone shares their experience on this. I was told I could keep RRSP and Life Insurance with foreign address but I am not sure. The Canada Revenue web site is very vague (probably on purpose).

Thanks
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AGNCanuckAbroad VIP
Posts: 818
Joined: 21 Jun 2011

Re: Tax impact when leaving Canada to live in USA

Post Mon Oct 24, 2011 9:06 am

forums.serbinski.com is where I answer all these types of questions....
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