Non-residency vs paying higher taxes

New / Mgmt .,.
Aug 21 6 Comments

I'm from Toronto and going to be working in Seattle.
Just curious in your experience as a Canadian who went to US under TN Visa or H1-B, did you change your status in Canada to non-resident so you don't have to pay the more taxes to Canada?

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TOP 6 Comments
  • Atlassian / Eng
    Djqjsb

    Atlassian Eng

    PRE
    BlackBerry
    Djqjsbmore
    Canada US tax treaty - if you spend more than half the year in the US you are a US tax resident and deemed a Canadian non resident.

    Strongly encourage you to speak to a tax specialist, and ditch any TFSAs and RESPs before you move.
    Aug 21 2
    • Microsoft onesnzeros
      Don’t ditch rrsp. They are covered by tax treaty. If you ever plan to move back to Canada I would hold some things. When you do move back you can sell us stocks tax free
      Aug 21
    • Atlassian / Eng
      Djqjsb

      Atlassian Eng

      PRE
      BlackBerry
      Djqjsbmore
      Yeah, specifically didn’t mention RRSP’s as they’re covered under the tax treaty (though once you move you won’t be allowed to buy any mutual funds or ETFs). Any additional investments will need to be sold as well (those outside an RRSP), as Canadian brokerages and the like can’t provide investment advice to US residents.
      Aug 21
  • New / Eng
    pulk

    New Eng

    BIO
    Just joined Full Time as Android Developer, after doing my COOP/Internship
    pulkmore
    For tax purposes, close all bank account in canada and maybe (sell all assets, house? Car?) This is what I heard so far
    Aug 21 2
    • New / Mgmt .,.
      OP
      Why would you need to sell your house in Canada if you want to declare non-residency?
      Aug 21
    • New / Eng
      pulk

      New Eng

      BIO
      Just joined Full Time as Android Developer, after doing my COOP/Internship
      pulkmore
      I have no idea. That's why maybe, I heard people selling there car, or moving there car registration to US.
      Aug 21