Expert: taxman at centa.com
Date: Friday July 07, 2006
Time: 12:46 PM -0700
QUESTION:
My aunt age 87 who was born in Canada,moved to US and married in 1963,
surrendered her citizenship because you couldn't hold dual at that time.
Childless and alone she is returning to Canada and will resume her Cdn
citizenship. Entry to Canada is probably Sept/06. For the year 06 should
she file taxes in the US. If she still has investments in the US for the
year 2007 should she file US or CDN. This is a simplified version of the
issues at hand.
--------------------------
david ingram replies:
She is a US citizen and will continue to file a US return and report her
world income.
She will file a Canadian return as a returning resident and report her US
income on the Canadian return after whatever day she arrives.
AFTER she comes to Canada however, her US social security is NO LONGER
taxable in the US but is taxable on line 115 of her Canadian return.
She also deducts 15% of the Social Security on line 256.
You can find out more by reading the October 1995 Newsletter in the top left
hand box at www.centa.com and the US/Canada taxation section in the second
box down on the right hand side.
You should likely retain someone like us to do the first year at least.
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