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David
I contacted your office to inquire about an appointment with
yourself to answer some of my questions and they suggested I
contact you be email first.
I'm on an L1-B work Visa, which expires in 2004, then I will get
a two year extention. When I got on with the company in the USA
I dropped my Canadian
bank accounts, credit cards, driver license etc in Canada and
established all of that in the US...plus residence in US. I also
notified by the Government of Canada of my US address and cancel
my BC care card. Only
problem is that I have maintain to have a girlfriend in Canada,
and because
of that I have travel to Vancouver to visit her quite often to
keep the
relationship alive.... I have lots of time off work and use that
time to see
her.... we tried meeting up in the US etc, but she was going to
school and
couldn't travel, so my only option was to travel to Vancouver. I
have also
been to Vancouver for business and friends weddings. We are then
getting
married ourselves in Vancouver in Aug... and are looking at our
options (1)
Move to the US (2) Me move back to Canada and stay working in
US........................ she loves Vancouver, who doesn't.
My questions are:
(1) Under Canadian taxation law does my frequent trips to the
Canada count
as a tie to Canada and require me to pay Canada tax? (tax to keep
a
girlfriend??).......... would it make a difference to the
situation if I
move her to the US in Oct (she'll live 1 month in Canada with us
being
married) or If I just decide to move back to Canada and buy a
house in
Vancouver. If I move back will I have to pay back tax and
penalties.... I
moved to US March 2001....... Will the longer I live in the US
and stop
going back to Canada make the situation better?
Frequent visits to Canada can qualify as close ties especially
with a wife or fiancee in Canada. It is called closer personal
connections . However, Article IV of the US / CANADA Tax
Convention would likely leave you as a resident of the US since
you do not have a home in Canada and are just visiting.
(2) If I decide to continue to work in the US and establish a
residence
back in Vancouver, what can I expect to pay in Canadian Tax if I
make
~US$95,0000/yr... Can I maintain a brokerage account in the US?
This requires detailed preparation of a return and the exchange
rate is in flux. However using today's exchange rate of 1.3739,
the Cdn equivalent is $130,520. Using 2002 Rates for BC, the
Canadaina and BC tax would be 42,406 Canadian or $30, 867 US.
These are the tax figures only, they do NOT take into effect any
differences in social security taxes which are lower in Canada
then the US. Establishing a residence in Canada will leave you
liable for Canadian Tax if you do not have a residence in the
states for sure. Maintaining a residence in the US will make it a
tossup which will likely hinge on number of days in the country.
US firms do not usually have any problem having Canadians with a
US Account. The problem is that Canadian Stock Brokers are not
usually equipped to handle US Residents.
(3) Does your firm handle L2 application? If so how much? and
what would
my spouse then need to do to work in the US.... My L1-B expires
in March
2004, her will have to be renewed then right? After my 5 years
on an L1-B
expire what visa will I need to get from my company to stay
working in the
US.... HR is giving me straight answers..
Yes, but it would likely be cheaper to get the company that
handled your L1 to do your L2.
Bring along a copy of your L1 application for me to peruse.
Let me know if you have time to set-up an appointment between
July 16-28....
sometime in the morning preferrably.... that's when I'll be in
Vancouver
next.
Just phone the office. Tell them you have a reply and get D'Arcy
or Gail to set up the appointment.
I have taken the liberty of booking 10 AM on July XX, 2003. If
this is not convenient phone as above to change.
Thanks
T XXXXX
-----------------------------------
david ingram replies:
T XXXXX I apologise for not geting back to you soner. I sent it
home to answer and then got sandbagged over the weekend.
My fee for the kind of consultation you are asking for is $600.00
Canadian
david ingram - [email protected]
108-100 Park Royal South
West Vancouver, BC, CANADA, V7T 1A2
(604) 913-9133 - (604) 913-9123 www.centa.com
Cell is (604) 657-8451 (10 AM to 10 PM seven days a week)
US/Canada Real Estate Taxation Specialists
US / CANADA / MEXICO
Working Visa and Income Tax Specialists
Disclaimer: This question has been answered without detailed
information or consultation and is to be regarded only as general
comment. Nothing in this message is or should be construed as
advice in any particular circumstances. No contract exists
between the reader and the author and any and all non-contractual
duties are expressly denied. All readers should obtain formal
advice from a competent and appropriately qualified legal
practitioner or tax specialist in connection with personal or
business affairs such as at www.centa.com. If you forward this
message, this disclaimer must be included."
Be ALERT, the world needs more "lerts"
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