QUESTION:
I am currently a resident in XXXXX, WA. I have owned property in xxxxxxxx, BC since 1960. I am retiring in less than 2 years, and I would like to build a residence on my Canadian property and spend from 1 - 9 months per year there. I thought it would be no problem until I started investigating the process. This can be a "sticky wicket". There must be a way to do it, and I don't want to run afoul of the Canadian Government like some of the horror stories I've read about. In order to build the house that I want to build, I would need to convert the equity in my current residence and pay cash for the Slocan house.
I am currently a resident in XXXXX, WA. I have owned property in xxxxxxxx, BC since 1960. I am retiring in less than 2 years, and I would like to build a residence on my Canadian property and spend from 1 - 9 months per year there. I thought it would be no problem until I started investigating the process. This can be a "sticky wicket". There must be a way to do it, and I don't want to run afoul of the Canadian Government like some of the horror stories I've read about. In order to build the house that I want to build, I would need to convert the equity in my current residence and pay cash for the Slocan house.
However, I do not want to dump the equity into a house in which I could not
live year round... if I so choose, and at the moment, I am not sure how much
time will be spent there. As I understand it, there is no longer a
"retiree" category for immigrating to Canada. I own property in my home
state, and I have 4 children, who are natural b
orn citizens and US residents, and a daughter-in-law, who is a dual US/Canadian citizen. There must be a way to do this. What I don't want is to show up at the Canadian border and be told that I can't go "home". And, I want to do it "above board" and legally. Any help or advice would be greatly appreciated. I am so looking forward to spending a lot more time there.
--------------------------------------------------------------------------------------------------------------orn citizens and US residents, and a daughter-in-law, who is a dual US/Canadian citizen. There must be a way to do this. What I don't want is to show up at the Canadian border and be told that I can't go "home". And, I want to do it "above board" and legally. Any help or advice would be greatly appreciated. I am so looking forward to spending a lot more time there.
david ingram replies:
My answer to this 4 year old question would still be the same.
-------------------------------------
Dear Sir
,
I was told that you could advise me regarding permanent relocation of a US
citizen to Canada. My sister lived in Victoria for some 45years until she died,
about 2 1/2 years ago ,so now my closest relative in Canada is a
cousin,also in Victoria BC.
I was thinking of moving to
Vancouver in about a year's time.
At present I live at
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, Alexandria Virginia 22xxx and my phone is
703 xxx-xxxx
Any info. you may provide would be appreciated.
Sincerely,
RXXXXXXXXX
========================================
david ingram
replies:
From your question, it
would appear that your intention is to retire to Canada and it is unlikley
that you could get landed status to do so. I am 61 and it would be
impossible for me to get permission to retire to the US as
well.
Canada has many methods of
coming as a worker when under 55 but after 55 it is very difficult to get
into Canada as an employee and imopossible to get in as a retiree unless you are
being sponsored by a child who lives
here.
Goto http://www.cic.gc.ca/english/skilled/assess/Education.asp and
fill in the self-assessment guide. Itg will tell you if you qualify under
the present rules. If you assess yourself over 67 points, you do
qualify. Email me a copy and we can go from
there.
-------------------------------
You can own a house in Canada and spend a lot of time here if you maintain a full blown home in the USA. The US home should be of more or at least equal value to the Canadian home and provided you spend less than 183 days a year in Canada as a visitor, you will not become subject to Canadian Income Tax. Moving from no income tax Washington state to BC with US social Security can result in significant extra BC tax because we do not recognize the low tax on social security for incomes under $25,000.
(On the other hand, a single working person making $100,000 as a self-employed person living in a rented house in California, paus more federal tax, state tax, medicare and FICA than a single person making a $100,000 in a rental house in Vancouver. Ditto for Toronto and New York City).
If your self assessing test came out to 67 points, you could qualify to move here on your own. However, unless you have a PHd in Nuclear Physics or Quantum mathematics, it is unlikely that you will qualify becasue of age penalties that start at age 55.
If you can find an employer to hire you and sponsor you, your point score would also go up after a year of working in Canada. in other words, you could work a year or two and get your full time status.
You also sound like you might be single. If so, a solution would be to find one of our lovely Canadian Ladies and marry her and have her sponsor you.
If your Canadian daughter-in-law was living in Canada, she could sponsor you as well. However, the wait list for a wife to sponsor you is anywhere from 4 to 22 months and there is a 22 year waiting list for sponsoring parents.
-------------------------------
--
-------------------------------
You can own a house in Canada and spend a lot of time here if you maintain a full blown home in the USA. The US home should be of more or at least equal value to the Canadian home and provided you spend less than 183 days a year in Canada as a visitor, you will not become subject to Canadian Income Tax. Moving from no income tax Washington state to BC with US social Security can result in significant extra BC tax because we do not recognize the low tax on social security for incomes under $25,000.
(On the other hand, a single working person making $100,000 as a self-employed person living in a rented house in California, paus more federal tax, state tax, medicare and FICA than a single person making a $100,000 in a rental house in Vancouver. Ditto for Toronto and New York City).
If your self assessing test came out to 67 points, you could qualify to move here on your own. However, unless you have a PHd in Nuclear Physics or Quantum mathematics, it is unlikely that you will qualify becasue of age penalties that start at age 55.
If you can find an employer to hire you and sponsor you, your point score would also go up after a year of working in Canada. in other words, you could work a year or two and get your full time status.
You also sound like you might be single. If so, a solution would be to find one of our lovely Canadian Ladies and marry her and have her sponsor you.
If your Canadian daughter-in-law was living in Canada, she could sponsor you as well. However, the wait list for a wife to sponsor you is anywhere from 4 to 22 months and there is a 22 year waiting list for sponsoring parents.
-------------------------------
--
David Ingram wrote:
However, I regularly search for the words"PAYING CUSTOMER" and
always answer them first if they did not get spammed out. As an example, as I
write this on Oct 18, 2007 since June 16th (124 days), my 'spammed out' box has
34,939 unread messages, my deleted box has 11854 I have actually looked at and
deleted and I answerd 1078 email questions for clients and strangers. I
have also put aside 622 messages that I am maybe going to try and answer because
they look interesting. -e
bankruptcy expert US Canada Canadian American Mexican Income Tax
help
Therefore, if an email is not answered in 24 to 36 hours, it is lost in space. You can try and resend it but if important AND YOU TRULY WANT OR NEED AN ANSWER, you will have to phone to make an appointment. Gillian Bryan generally accepts appointment requests for me between 10:30 AM and 4:00 PM Monday to Friday VANCOUVER (Seattle, Portland, Los Angeles) time at (604) 980-0321. expert US Canada Canadian American Mexican Income Tax help.
david ingram's US / Canada Services
US / Canada / Mexico tax, Immigration and working Visa Specialists
US / Canada Real Estate Specialists
My Home office is at:
Calls welcomed from 10 AM to 9 PM 7 days a week Vancouver (LA) time - (please do not fax or phone outside of those hours as this is a home office) expert US Canada Canadian American Mexican Income Tax help.
$1,700 would be for two people with income from two countries
Catch - up returns for the US where we use the Canadian return as a guide will be $150 to $500.00 depending upon numbers of bank accounts, RRSP's, existence of rental houses, etc.
Just a guideline not etched in stone.
David Ingram expert income tax and immigration help and preparation of US Canada Mexico non-resident and cross border returns with rental dividend wages self-employed and royalty foreign tax credits family estate trust trusts income tax convention treaty advice on bankruptcy
It is very unlikely that blind or unexpected email to me will
be answered. I receive anywhere from 100 to 700 unsolicited emails a
day and usually answer anywhere from 2 to 20 if they are not from existing
clients. Existing clients are advised to put their 'name and PAYING
CUSTOMER' in the subject and get answered first. I also refuse to be a
slave to email and do not look at it every day and have never ever looked at it
when I am out of town. e bankruptcy expert US Canada Canadian American
Mexican Income Tax help
Therefore, if an email is not answered in 24 to 36 hours, it is lost in space. You can try and resend it but if important AND YOU TRULY WANT OR NEED AN ANSWER, you will have to phone to make an appointment. Gillian Bryan generally accepts appointment requests for me between 10:30 AM and 4:00 PM Monday to Friday VANCOUVER (Seattle, Portland, Los Angeles) time at (604) 980-0321. expert US Canada Canadian American Mexican Income Tax help.
david ingram's US / Canada Services
US / Canada / Mexico tax, Immigration and working Visa Specialists
US / Canada Real Estate Specialists
My Home office is at:
4466 Prospect Road
North Vancouver, BC, CANADA, V7N 3L7
Cell (604) 657-8451 -
(604) 980-0321 Fax (604) 980-0325
North Vancouver, BC, CANADA, V7N 3L7
Cell (604) 657-8451 -
(604) 980-0321 Fax (604) 980-0325
Calls welcomed from 10 AM to 9 PM 7 days a week Vancouver (LA) time - (please do not fax or phone outside of those hours as this is a home office) expert US Canada Canadian American Mexican Income Tax help.
Disclaimer: This question has been answered without detailed
information or consultation and is to be regarded only as general
comment. Nothing in this message is or should be construed as advice
in any particular circumstances. No contract exists between the reader and the
author and any and all non-contractual duties are expressly denied. All
readers should obtain formal advice from a competent and
appropriately qualified legal practitioner or tax specialist
for expert help, assistance, preparation,
or consultation in connection with personal or
business affairs such as at www.centa.com. If you forward this message, this disclaimer must be included."
e bankruptcy expert US
Canada Canadian American Mexican Income Tax
help.
David Ingram gives expert income
tax & immigration help to non-resident Americans & Canadians from
New York to California to Mexico family,
estate, income trust trusts Cross border, dual citizen - out of
country investments are all handled with competence &
authority.
Phone consultations are $400 for 15
minutes to 50 minutes (professional hour). Please note that GST is added if
product remains in Canada or is to be returned to Canada or a phone consultation
is in Canada. expert US Canada Canadian American Mexican Income
Tax help.
This is not intended to be definitive but in
general I am quoting $900 to $2,900 for a dual country tax
return.
$900 would be one T4 slip one W2 slip one or two
interest slips and you lived in one country only (but were filing both
countries) - no self employment or rentals or capital gains - you did not move
into or out of the country in this year.
$1,100 would be the same with one rental
$1,300 would be the same with one business no
rental
$1,300 would be the minimum with a move in or out
of the country. These are complicated because of the back and forth foreign tax
credits. - The IRS says a foreign tax credit takes 1 hour and 53
minutes.
$1,600 would be the minimum with a rental or two in
the country you do not live in or a rental and a business and foreign tax
credits no move in or out
$1,700 would be for two people with income from two countries
$2,900 would be all of the above and you moved in
and out of the country.
This is just a guideline for US / Canadian
returns
We will still prepare Canadian only (lives in
Canada, no US connection period) with two or three slips and no capital
gains, etc. for $175.00 up.
With a Rental for $375
A Business for $375 - Rental and business likely
$500
And an American only (lives in the US with no
Canadian income or filing period) with about the same things in the same range
with a little bit more if there is a state return.
Moving in or out of the country or part year
earnings in the US will ALWAYS be $800 and up.
TDF 90-22.1 forms are $50 for the first and $25.00
each after that when part of a tax return.
8891 forms are generally $50.00 to $100.00
each.
18 RRSPs would be $900.00 - (maybe amalgamate a
couple)
Capital gains *sales) are likely $50.00 for
the first and $20.00 each after that.
Catch - up returns for the US where we use the Canadian return as a guide will be $150 to $500.00 depending upon numbers of bank accounts, RRSP's, existence of rental houses, etc.
Just a guideline not etched in stone.
This from "ask an income trusts tax and immigration expert"
from www.centa.com or www.jurock.com or www.featureweb.com. David Ingram deals on a daily
basis with expatriate tax returns with multi jurisdictional cross and
trans border expatriate problems for the United States, Canada, Mexico,
Great Britain, United Kingdom, Kuwait, Dubai, Saudi Arabia, Thailand,
Indonesia, Japan, China, New Zealand, France, Germany, Spain, Italy, Russia,
Georgia, Brazil, Peru, Ecuador, Bolivia, Scotland, Ireland, Hawaii, Florida,
Montana, Morocco, Israel, Iraq, Iran, India, Pakistan, Afghanistan, Mali,
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"lerts".
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