QUESTION: Hi David,
I'm a Canadian citizen who moved to Washington State in mid-March, 2006. I
earned about 8k in Canada, and I earn a yearly salary of 76k here in the US.
I'm in the US on a TN visa, but it's a permenant position (my employer said
they'll just renew the TN next year). Do I need to pay taxes in Canada on
my American income? I'm 22, no dependents in Canada (though I still have
family there), and I visit about 4 times per year for a few days each time.
Thanks,
---------------------------------------------
david ingram replies:
You are now a US resident and would usually file a US 1040 Dual Status
return.
However, It is likely to your advantage to file a full 1040 and report the
Canadian Income as part of your world income, claim the standard deduction
and a foreign tax credit for the tax, CPP and EI paid to Canada.
For Canada, you will file a departing T1 return. You should also verify
that you do not or do have to file form T1161. If you do, and do not file
it by April 30, 2007, the penalty is $25.00 a day to a maximum of $2,500.
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