Comments for FinanciallYou http://financiallyou.com Tue, 15 Jan 2013 10:41:19 +0000 hourly 1 http://wordpress.com/ Comment on RRSP redemption for non-resident – part of the RRSP series by Zack Wingfield http://financiallyou.com/2012/04/03/rrsp-redemption-for-non-resident-part-of-the-rrsp-series/#comment-75 Tue, 15 Jan 2013 10:41:19 +0000 http://financiallyou.wordpress.com/?p=454#comment-75 Would if I am a temporary resident filing taxes in Australia under a 457 visa(since 2008)? I have been here since 2006 and canada has declared me a non resident since 2008 after lengthy paperwork. Can I now withdrawl all RRSP and how much Tax and which country would I pay tax to>

]]> Comment on Which is cheaper to live in – US or Canada? Part I – income taxes by JSY http://financiallyou.com/2012/03/08/which-is-cheaper-to-live-in-us-or-canada-part-i-income-taxes/#comment-71 Mon, 10 Dec 2012 03:49:33 +0000 http://financiallyou.wordpress.com/?p=294#comment-71 Hi Lily,
Absolutely nothing related to your post – and you can delete this comment from your site – but I have request to push your way if you might be so inclined (sorry I could not find some other e-mail source). If appropriate, could you send me a message to syeomans@schulich.yorku.ca ?
Thanks
JSY

]]> Comment on RRSP redemption for non-resident – part of the RRSP series by temporarylily http://financiallyou.com/2012/04/03/rrsp-redemption-for-non-resident-part-of-the-rrsp-series/#comment-66 Tue, 20 Nov 2012 01:48:19 +0000 http://financiallyou.wordpress.com/?p=454#comment-66 Not sure if this is a little too late. I don’t see why you are paying it off.

http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/rrsp-reer/hbp-rap/spcl/nnrs-eng.html

Wether you need to declare that income in France will depend on how France want to recognize the funds as income or not. I don’t know French rules at all so can’t help you there.

Revenue Canada kind of expect you to file taxes unless you have declared yourself non-resident with them which is a bit of a process. However, if you have severed all your ties with Canada, ie. no longer own home, bank accounts etc you’ll be recognized as non-resident.

And yes if you can be still considered resident of Canada even if you don’t earn income in the country.

]]> Comment on RRSP redemption for non-resident – part of the RRSP series by Laila http://financiallyou.com/2012/04/03/rrsp-redemption-for-non-resident-part-of-the-rrsp-series/#comment-63 Mon, 08 Oct 2012 20:49:42 +0000 http://financiallyou.wordpress.com/?p=454#comment-63 Hello,

I am about to withdraw my RRSPs as a non Canadian resident with the 25% withholding charge. Do I have to declare this money as income in my new country of residence which is France? Or can I just wire the money over and leave it at that?

Also I am pushing myself to finishing paying off an RRSP under the HBP (first house purchase). Do I have to file an income tax return especially for this in 2013? Even if I earned no money in Canada in 2012?

Thanks for your help in this very confusing matter.

Laila

]]> Comment on Mutual fund with 12% return?! by Melissa http://financiallyou.com/2012/03/06/dave_ramse/#comment-62 Thu, 30 Aug 2012 13:36:31 +0000 http://financiallyou.wordpress.com/?p=301#comment-62 Great read! Very informative, inspiring and realistic.
Thanks!

]]> Comment on RRSP redemption for non-resident – part of the RRSP series by Can-Au tax man http://financiallyou.com/2012/04/03/rrsp-redemption-for-non-resident-part-of-the-rrsp-series/#comment-61 Mon, 13 Aug 2012 12:02:20 +0000 http://financiallyou.wordpress.com/?p=454#comment-61 If you are a non-resident of Canada and a resident of Australia, the withholding rate is 15% per the treaty, regardless of whether it’s a an rrsp or rrif account, and for both lump sum and periodic payments. Keep in mind that unless you are a “temporary resident” under Australian tax purposes, the withdrawal will be subject to Australian taxes at your marginal rates, less the 15% tax credit.

]]> Comment on RRSP redemption for non-resident – part of the RRSP series by Peter Davey http://financiallyou.com/2012/04/03/rrsp-redemption-for-non-resident-part-of-the-rrsp-series/#comment-60 Mon, 23 Jul 2012 00:31:02 +0000 http://financiallyou.wordpress.com/?p=454#comment-60 What would the withholding tax situation be as a non-resident if I was able to have my RRIF payments made to a Canadian bank account? I am now based in Australia. The tax treaty is 15%.

]]> Comment on Marginal vs Effective Tax Rates by Did Tax Cuts for the Rich Create the Great Divergence? « Trenz Pruca's Journal http://financiallyou.com/2012/04/19/marginal-vs-effective-tax-rates/#comment-59 Tue, 05 Jun 2012 07:50:58 +0000 http://financiallyou.wordpress.com/?p=489#comment-59 [...] Marginal vs Effective Tax Rates (financiallyou.com) Share this:FacebookLinkedInTwitterStumbleUponLike this:LikeBe the first to like this post. [...]

]]> Comment on Marginal vs Effective Tax Rates by The Laughable Economic Fallacies Embraced By Progressives – John Malcolm http://financiallyou.com/2012/04/19/marginal-vs-effective-tax-rates/#comment-50 Sat, 28 Apr 2012 12:30:02 +0000 http://financiallyou.wordpress.com/?p=489#comment-50 [...] Marginal vs Effective Tax Rates (financiallyou.com) [...]

]]> Comment on Think Poor To Save More by Six Financial Lessons From Say Yes to the Dress – Huffington Post (blog) « Planner Financial http://financiallyou.com/2012/02/27/think-poor-to-save-more/#comment-40 Thu, 05 Apr 2012 07:43:49 +0000 http://financiallyou.wordpress.com/?p=93#comment-40 [...] can spend will keep you grounded. As I’ve said before, you need to be realistic… and Think Poor. Live in the bliss of [...]

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