Daily Commuter here to US, not sure if this is the right area. As a US PR (in commuter status) and Canadian citizen, how does Canada treat Roth 401ks and RRSP room. Previously doing work traditional 401k to lower US taxes, but since Canada is higher - does a Roth 401k with employer matching make RRSP room and/or Canadian taxes?
Daily commute (Detroit-Windsor) (H1b and Canada PR)
- Thread starter prudhvi
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Hello All
I have tax related questions. This is my first year paying US and Canadian taxes. I have filled my US Taxes as a non resident and now filling in Canada. So my CPA is saying that for first year my 401k deductions will not be counted as there is no RRSP limit defined yet for me so my net taxable income will be with with 401k contributions as far as Canada is concerned. Is the statement correct?
Thank you
I have tax related questions. This is my first year paying US and Canadian taxes. I have filled my US Taxes as a non resident and now filling in Canada. So my CPA is saying that for first year my 401k deductions will not be counted as there is no RRSP limit defined yet for me so my net taxable income will be with with 401k contributions as far as Canada is concerned. Is the statement correct?
Thank you
if you have never filed tax in Canada, then your accountant is correct. Your RRSP deduction limit is defined from your previous year's tax return.
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Thank you. And one more question so from next year when my RRSP limit will be defined, will my taxable income be Net Income - 401k - RRSP if I choose to contribute in both?
I believe so but it's best to check with your account. Since you've hired him, asking more questions shouldn't cost you more.
Hello,
I’m currently an Indian Citizen living in Canada as a PR.
I travel to work (USA) daily and currently hold an H1B status.
I will become a Canadian Citizen next month and hav a few questions about cross border commute & nexus.
1) My lawyer said to use the existing I797 and Canadian passport to the border and get my I94 stamped. Question is : Do I also have to carry my Indian passport? I assume not and I should just carry my Canadian passport?
2) I also have a valid Nexus card which shows my nationality as Indian. Do I need to start from scratch (conditional approval + interview) for Nexus or is there a way to inform CBP about my change in Nationality.
Thanks & sorry if this has been asked before.
I’m currently an Indian Citizen living in Canada as a PR.
I travel to work (USA) daily and currently hold an H1B status.
I will become a Canadian Citizen next month and hav a few questions about cross border commute & nexus.
1) My lawyer said to use the existing I797 and Canadian passport to the border and get my I94 stamped. Question is : Do I also have to carry my Indian passport? I assume not and I should just carry my Canadian passport?
2) I also have a valid Nexus card which shows my nationality as Indian. Do I need to start from scratch (conditional approval + interview) for Nexus or is there a way to inform CBP about my change in Nationality.
Thanks & sorry if this has been asked before.
Hi I am in exact same boat. Were you able to find out anything on this?
thanks
Hi all-
My oath is on May 30th (Thursday). Since I work in Detroit, I will have to travel for work from June 3rd (Monday). Since I will have to cut the PR Card during the oath, I will only have Nexus card. Question is- can I use Nexus card and e-citizenship certificate to reenter Canada until the Canadian passport comes?
Thanks
My oath is on May 30th (Thursday). Since I work in Detroit, I will have to travel for work from June 3rd (Monday). Since I will have to cut the PR Card during the oath, I will only have Nexus card. Question is- can I use Nexus card and e-citizenship certificate to reenter Canada until the Canadian passport comes?
Thanks
No.
you need the Canadian passport to renter Canada as e certificate is not a travel document.
For Nexus, I am thinking we can login to Portal and update the citizenship to Canadian once we receive the passport and upload that.
I am also thinking to just ask CBP officer next time I cross the border about carrying Indian passport vs just keeping Canadian Passport.
My only concern is H1B stamp is in Indian passport along with stapled i94 slip.
Yes I plan to carry my Indian passport along w/ Canadian passport just incase.
If officer asks for my Indian passport, only then I would show it, else I plan to only use my Canadian passport.
Regarding Nexus, I plan to do the same.
If I may ask, did you already get your Canadian passport or still waiting?
just trying to get an idea if you were able to apply for urgent (next day pickup) processing at Windsor Passport office.
thanks