QUESTION:
Dear Sir / Madam,
I came to United States on March 15th 2004. I will be leaving the country on
Jan 31st 2005. When i file the returns will i be getting any refungs as my
stay is less than one year.
Appreciate your response.
Regards,
Sxxxxxxxxx
---------------------
david ingram replies:
Your refund will depend upon how much was deducted at source form your
paycheque in the USA. It will also depend upon whether you were intending
to stay longer or knew you were just going for 10 months. If you knew you
were going for 10 months, you will get money back in the USA but will owe
tax on your US earnings to Canada. If you had intended to stay for ever or
for a couple of years, you will NOT owe money to Canada on your US earnings.
You might want to buy a $350 (Cdn) phone consultation so that you get it
straight.
You also have the option of reporting the Jan to Mar Canadian income on your
US return and claiming a foreign tax credit or an exemption. In other words
there are three methods of preparing your US return and they will all
calculate a different refund.
There are two methods of calculating your US return and they will return
different amounts.
Goto www.centa.com and read the US Canada Taxation section (about 6 inches
down in the second box on the right hand side of the first page. Pay real
attention to the Dennis Lee and Wolf Bergelt cases in the middle.
Answers to this and other similar questions can be obtained free on Air
every Sunday morning.
Every Sunday at 9:00 AM on 600AM in Vancouver, Fred Snyder of Dundee Wealth
Management and I, David Ingram will be hosting an INFOMERCIAL but LIVE talk
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Those outside of the Lower Mainland will be able to listen on the internet
at
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