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Hi David:
Thanks for the reply.
How can I convice CCRA that my intention was to leave
for more than a year? (which it was, I was even going
to apply for Green card, but then came recession and
layoffs!). What form do I need to use?
What is pro-rated exemptions?
It seems I have filed incorrectly
in US. I used turbo tax to do it, and I think that
software is used by US residents. IS it too late to
correct US one? what are the tax implications?
I may be intersted in hiring your firm if necessary to
correct these mistakes, I live in Toronto, how much
would you charge?
Thanks!
----------------------------------------------------------------
david ingram replies:
It is highly unlikley that you will "have to" convince anyone. Just do the returns properly. You might need a statement from firends that you intended to stay. The fact that you were laid off helps.
Pro-ration of exemptions means that you can only claim an exemption for the number of days you were in Canada.
Therefore you will take the peersonal exemption amount on Schedule 1 of your return anddivide it by the number of days in Canada to calculate your exemption.
We would likley charge you $700.00 Canadian to correct the four returns. If you were working in a state with a tax return, we will throw those in as well.
david ingram
--- "David Ingram at home - bus at [email protected]"
<[email protected]> wrote:
> From:
> My_question_is: Applicable to both US and Canada
> Subject: Residency
> Expert: [email protected]
> Date: Monday May 10, 2004
> Time: 06:37 AM -0700
>
> QUESTION:
>
> Hello:
>
> I worked in US for 1 year (3 months in 2000 and 9 in
> months in 2001). I never visited canada during that
> period, and had no dependants or House in Canada,
> but was naive enough to keep my OHIP and driver's
> license (was not aware of the rules, and of course
> never used them)
>
> 1) Do I have to report my taxes to CCRA?
> 2) If yes, do I have to pay CPP and EI too? 3) Is
> there a way to avoid penalty by trying the Volunteer
> program?
>
> Thank you very much.
> ===============================
> david ingram replies:
>
> If you intended to go for more than a year and came
> back early, you do not have to report the money to
> the CRA but your returns for both years should have
> had pro-rated exemptions. In this case, you should
> have prepared Dual Status US 1040 Returns for both
> years.
>
> If you knew you were going for one year when you
> left, you DO need to report the US money to the CRA
> but can claim foreign tax credits in Canada for the
> Fed and state taxes and the FICA and medicare
> premiums you paid.
>
> In this case, you should have filed a US 1040NR for
> 2000 and a dual status 1040 for 2001.
>
> Goto www.centa.com and read the [US/Canada Taxation]
> section.
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