What happens to stocks when moving from US to Canada?

Amazon / Project
blueeyed

Go to company page Amazon Project

blueeyed
Oct 11, 2021 4 Comments

I'm moving to Canada from US within 2-3 months. Currently in US with H1B visa. Based on my research, for the stocks/vested rsu's which i bought in US, i will be taxed in Canada on the capital gains from the date i entered Canada. However I won't be taxed anywhere for the capital gains which happened in US due to US Canada tax treaty.
Is there some misunderstanding here?

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TOP 4 Comments
  • Did you check the DTAA (Double tax avoidance treaty) many countries sign each other.? I’m not so sure about taxation for US income in Canada specifically though.
    Oct 11, 2021 2
    • Amazon / Project
      blueeyed

      Go to company page Amazon Project

      blueeyed
      OP
      Double tax avoidance meaning, i paid tax somewhere hence don't take tax again. However in this scenario, I'm not paying tax for the capital gain happened in US anywhere. Hence bit confused on that.
      Oct 11, 2021
    • Yes. You are correct. As per this agreement the participating nations will not tax the income if it’s already in another country. In this case, if the income is taxed in US in that financial year, it must b tax exempt in Canada but I’m not an expert in this area. Just a theoretical knowledge. Pls do your homework.
      Oct 11, 2021
  • Apple
    Ligma?

    Go to company page Apple

    Ligma?
    No US tax if you don’t sell while still a US tax resident. Value on the day you enter Canada is your new cost basis.
    Oct 11, 2021 0