Filing taxes

[krishere1982]

Hello all,

I soft landed in August 2017. At that time I also applied for SIN and got it. But I didn't live or work in Canada nor do I own any property there. I will be moving in April 2020 to Canada.

I wouldn't have to file taxes for 2017, 2018, 2019, right?

Thanks in advance.

 

[canuck_in_uk]

Hello all,

I soft landed in August 2017. At that time I also applied for SIN and got it. But I didn't live or work in Canada nor do I own any property there. I will be moving in April 2020 to Canada.

I wouldn't have to file taxes for 2017, 2018, 2019, right?

Thanks in advance.

Right.

 

[krishere1982]

Right.

Thank you.

 

[alexwenner87]

Right.

Hello. I opened up a different thread about this myself and I'm getting mixed messages. I'm in a similar situation, I soft-landed in April 2019, stayed for 10 days and returned to Europe. I never settled in Canada and planning to do so in 2020.

The difference is that I have a bank account, TFSA and credit card with TD. Other than that, no properties, no family, no income source in Canada whatsoever.

I still don't understand should I file or not? and if so, am I considered a resident or non-resident?

 

[canuck_in_uk]

Hello. I opened up a different thread about this myself and I'm getting mixed messages. I'm in a similar situation, I soft-landed in April 2019, stayed for 10 days and returned to Europe. I never settled in Canada and planning to do so in 2020.

The difference is that I have a bank account, TFSA and credit card with TD. Other than that, no properties, no family, no income source in Canada whatsoever.

I still don't understand should I file or not? and if so, am I considered a resident or non-resident?

Unlikely unless you ran large amounts of money through those accounts. You can submit a form to CRA to determine tax residency.

 

[alexwenner87]

Unlikely unless you ran large amounts of money through those accounts. You can submit a form to CRA to determine tax residency.

I understand. So my questions then moving forward would be:

1- How do I submit this form? Can I use email and if so where can I find the address?
2- Do you advice I get help from an accountant for all of this?
3- Is it necessary to open an account with with CRA at this stage?
4- Can all of this wait until I actually settle in Canada and I do backfill for the previous year?

Thank you in advance.

 

[canuck_in_uk]

I understand. So my questions then moving forward would be:

1- How do I submit this form? Can I use email and if so where can I find the address?
2- Do you advice I get help from an accountant for all of this?
3- Is it necessary to open an account with with CRA at this stage?
4- Can all of this wait until I actually settle in Canada and I do backfill for the previous year?

Thank you in advance.

https://www.canada.ca/en/revenue-agency/services/forms-publications/forms/nr73.html

1. Mail.

2. No.

3. No.

4. I wouldn't wait but up to you.

 

[canuck78]

If you have any investments in the money you put into your TFSA that would be a source of income. Likely a small amount of income and tax free income.

 

[alexwenner87]

If you have any investments in the money you put into your TFSA that would be a source of income. Likely a small amount of income and tax free income.

I have 6K in TFSA (exact investment room for 2019). The interest rate TD offers is around 0.85 ~ 1.15%. I can see less than 50 CAD accumulated on my account for 2019. My understanding is these had already been taxed 1% per month because of me residing outside of Canada. Once it's sitting on my account, it's tax-free. I contacted TD but they just blab out general information and links and don't answer my exact question.

I don't have a mailing address in Canada, how am I going to send CRA forms by mail and get their response? Are you saying I should do international mail?

 

[canuck_in_uk]

I have 6K in TFSA (exact investment room for 2019). The interest rate TD offers is around 0.85 ~ 1.15%. I can see less than 50 CAD accumulated on my account for 2019. My understanding is these had already been taxed 1% per month because of me residing outside of Canada. Once it's sitting on my account, it's tax-free. I contacted TD but they just blab out general information and links and don't answer my exact question.

I don't have a mailing address in Canada, how am I going to send CRA forms by mail and get their response? Are you saying I should do international mail?

CRA mails internationally.

 

[canuck78]

I have 6K in TFSA (exact investment room for 2019). The interest rate TD offers is around 0.85 ~ 1.15%. I can see less than 50 CAD accumulated on my account for 2019. My understanding is these had already been taxed 1% per month because of me residing outside of Canada. Once it's sitting on my account, it's tax-free. I contacted TD but they just blab out general information and links and don't answer my exact question.

I don't have a mailing address in Canada, how am I going to send CRA forms by mail and get their response? Are you saying I should do international mail?

you can put higher earning investments in a TFSA was my point. Yes you can mail in the form to CRA. Instructions should be on the form. If you set up a savings account that you use to transfer funds before you finally settle permanently it wouldn’t be a big deal although still wouldn’t recommend On using the account until you are getting prepared to move. Active credit cards create more ties. It is the TFSA that CRA needs to weigh in whether that makes you a resident for tax purposes. Participating in tax sheltering programs reserved for longterm/retirement savings in a country is a lot different than opening an account so you can transfer funds before you leave you country. Up to CRA to determine how much ties it creates.

 

[Gsk1979]

Hello. I opened up a different thread about this myself and I'm getting mixed messages. I'm in a similar situation, I soft-landed in April 2019, stayed for 10 days and returned to Europe. I never settled in Canada and planning to do so in 2020.

The difference is that I have a bank account, TFSA and credit card with TD. Other than that, no properties, no family, no income source in Canada whatsoever.

I still don't understand should I file or not? and if so, am I considered a resident or non-resident?

Hi alex

can you share your experience. were you considered tax resident?

Regards
GSK