I have a few questions
To: taxman at centa.com
Subject: I have a few questions
David,
I have a few questions I would like to ask you.
First, Pension I read that it's possible to top up your
pension years if your short
so it's possible to get full pension.
I lived in Canada for 13 years from age 18.
is it worth while to pay up my cpp for 7 years
so I can get full pension 65 ?
I now live in the us with over 10 years of pension
earnings
so I will get full pension here. Would I be paid two
pensions
by paying up my cpp ?
Second, I believe I may own rev can some money from 12
yrs
ago do I need to worry about it ? I think I read
about rev can having some amnesty programme.
I don't think I will ever live in Canada again as
a tax resident. I may visit for a few months.
In fact I'm considering leaving here (usa) for some
cheap
warm year round location at retirement time.
Thanks,
=============================== david ingram
replies:If you are not living in Canada or working out
of the country for a Canadian Company, there is no way
to top up your CPP or OAS.If you you have not lived in
Canada for 20 years after turning 18, you can NOT
collect your OAS out of the countryYou WILL get a small
CPP pension based upon your 13 years in Canada no
matter where you live.You WILL get a small US Social
Security Pension based upon your contributions no
matter where you live.Rev Canada will not have forgiven
your debt. Just today, I received a notice for an 88
year old man on old age pension. The CRA (old Revenue
Canada) is trying to collect $1,800 for 1987. That is a
17 year old debt and he did not know that he owed them
anything. However, we filed a 2003 return to get his a
tax credit and the CRA grabbed the tax credit and sent
him a bill.hopAnswers 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
show called "ITS YOUR MONEY" Those outside of the Lower
Mainland will be able to listen on the internet at
www.600AM.com Local calls are taken at (604) 280-0600
and Long Distance calls are taken at 1( 866) 778-0600 I
do not know how far the LD line
reaches.=========================================This
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