加拿大理財討論區
馬上風
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5 Dislike
有少少，但報稅冇報
唔過cad $50唔使報
我聽完條友講都覺得奇撚怪，有咩可能唔得，佢仲問我有冇CRA嘅網址show到有呢樣安排，我真係唔信間分行從來冇做過類似嘅嘢
條友好似好唔想我開RRSP咁，狂sell TFSA同FHSA但佢話因為FHSA係新出，只可以經銀行買mutual fund，冇得自己投資
who said so?
過咗但都冇報
It can be done
quote them the section of the Income Tax Act
substitute US pension to HK pension
https://ca.rbcwealthmanagement.com/documents/17271/2296696/Transferring+a+foreign+based+retirement+plan+to+an+RRSP.pdf/e23b8c90-0408-4ecf-9c46-3c047fe59b65
Follow Step 1 to Step 3
Step 1
Make a lump sum withdrawal from
your foreign-based retirement plan
and pay any foreign income tax.
Instruct your U.S. plan administrator
to collapse your qualifying U.S. plan
and mail a cheque of the proceeds to
you. You will receive proceeds net of
U.S. withholding tax.
If you are a U.S. citizen/green-card
holder the withdrawal may be subject
to U.S. withholding tax of 10-20%.
The withdrawal must be reported
on a U.S. resident income tax return
(Form 1040) and is subject to U.S. tax
at graduated tax rates.
A lump sum withdrawal by a Canadian
(non-U.S. citizen/green-card holder)
is subject to a 30% U.S. nonresident
withholding tax rate, although some
U.S. plan administrators may withhold
a lower rate. If the benefits withdrawn
relate to employment services
performed in the U.S., the withdrawal
may be considered to be income
“effectively connected with a U.S. trade
or business.” This may require you
to report the gross amount of the
withdrawal on a U.S. nonresident
income tax return (Form 1040NR),
subjecting the withdrawal to tax at
graduated U.S. tax rates. You should
confirm the U.S. filing requirements
with your tax advisor.
Roth IRAs are not
considered to be
foreign pension plans
nor foreign retirement
arrangements so you
cannot contribute lump
sum withdrawals from
this plan to your RRSP
without using RRSP
contribution room.
The U.S. income tax liability on the
tax return will be reduced by the
amount of U.S. tax that was withheld
at source. You may receive a refund
if the withholding tax is larger than
the tax liability calculated on the tax
return, or you may need to pay the
difference. Where a U.S. tax return
is required, irrespective of the initial
amount of tax withheld when you
made the withdrawal, your ultimate
U.S. tax liability is the tax liability
calculated on your U.S. 1040NR
nonresident tax return.
Note: If you are under age 59 ½ when
the withdrawal is made you may be
subject to a nonrefundable 10% early
withdrawal penalty. The U.S. plan
administrator is not responsible for
withholding this early withdrawal
penalty from the lump sum withdrawal.
However, you will be required to file a
U.S. 1040NR nonresident tax return to
calculate and remit the penalty to the
IRS. The penalty is reported on your
U.S. tax return and is added to your
total U.S. income tax liability.
Step 2
Contribute an amount equal to the
gross value of the withdrawal that is
permitted to be transferred to your
RRSP under the special provisions.
Where the full amount of the benefit
withdrawn may be contributed to your
RRSP under the special provisions,
the Canadian-dollar equivalent of
the gross amount withdrawn (the full
amount before withholding tax) may
be contributed to your RRSP to take
full advantage of this strategy. You
must make this contribution by the
end of the regular RRSP contribution
deadline (during the year of the
withdrawal, or 60 days after the end of
that year, at the latest). You will receive
an RRSP contribution receipt. You may
also contribute benefits withdrawn
that do not qualify under the special
provisions provided you have sufficient
RRSP contribution room.
Step 3
Report the withdrawal and RRSP
contribution on your Canadian income
tax return.
The gross withdrawal from your U.S.
plan (converted into Canadian dollars
using the foreign exchange rate in
effect on the date of the withdrawal)
should be reported as taxable income
on your Canadian income tax return.
In addition, the contribution to
your RRSP should be reported as
a deduction to offset the amount
included in your taxable income.
In order to indicate to the Canada
quote them the section of the Income Tax Act
substitute US pension to HK pension
https://ca.rbcwealthmanagement.com/documents/17271/2296696/Transferring+a+foreign+based+retirement+plan+to+an+RRSP.pdf/e23b8c90-0408-4ecf-9c46-3c047fe59b65
Follow Step 1 to Step 3
Step 1
Make a lump sum withdrawal from
your foreign-based retirement plan
and pay any foreign income tax.
Instruct your U.S. plan administrator
to collapse your qualifying U.S. plan
and mail a cheque of the proceeds to
you. You will receive proceeds net of
U.S. withholding tax.
If you are a U.S. citizen/green-card
holder the withdrawal may be subject
to U.S. withholding tax of 10-20%.
The withdrawal must be reported
on a U.S. resident income tax return
(Form 1040) and is subject to U.S. tax
at graduated tax rates.
A lump sum withdrawal by a Canadian
(non-U.S. citizen/green-card holder)
is subject to a 30% U.S. nonresident
withholding tax rate, although some
U.S. plan administrators may withhold
a lower rate. If the benefits withdrawn
relate to employment services
performed in the U.S., the withdrawal
may be considered to be income
“effectively connected with a U.S. trade
or business.” This may require you
to report the gross amount of the
withdrawal on a U.S. nonresident
income tax return (Form 1040NR),
subjecting the withdrawal to tax at
graduated U.S. tax rates. You should
confirm the U.S. filing requirements
with your tax advisor.
Roth IRAs are not
considered to be
foreign pension plans
nor foreign retirement
arrangements so you
cannot contribute lump
sum withdrawals from
this plan to your RRSP
without using RRSP
contribution room.
The U.S. income tax liability on the
tax return will be reduced by the
amount of U.S. tax that was withheld
at source. You may receive a refund
if the withholding tax is larger than
the tax liability calculated on the tax
return, or you may need to pay the
difference. Where a U.S. tax return
is required, irrespective of the initial
amount of tax withheld when you
made the withdrawal, your ultimate
U.S. tax liability is the tax liability
calculated on your U.S. 1040NR
nonresident tax return.
Note: If you are under age 59 ½ when
the withdrawal is made you may be
subject to a nonrefundable 10% early
withdrawal penalty. The U.S. plan
administrator is not responsible for
withholding this early withdrawal
penalty from the lump sum withdrawal.
However, you will be required to file a
U.S. 1040NR nonresident tax return to
calculate and remit the penalty to the
IRS. The penalty is reported on your
U.S. tax return and is added to your
total U.S. income tax liability.
Step 2
Contribute an amount equal to the
gross value of the withdrawal that is
permitted to be transferred to your
RRSP under the special provisions.
Where the full amount of the benefit
withdrawn may be contributed to your
RRSP under the special provisions,
the Canadian-dollar equivalent of
the gross amount withdrawn (the full
amount before withholding tax) may
be contributed to your RRSP to take
full advantage of this strategy. You
must make this contribution by the
end of the regular RRSP contribution
deadline (during the year of the
withdrawal, or 60 days after the end of
that year, at the latest). You will receive
an RRSP contribution receipt. You may
also contribute benefits withdrawn
that do not qualify under the special
provisions provided you have sufficient
RRSP contribution room.
Step 3
Report the withdrawal and RRSP
contribution on your Canadian income
tax return.
The gross withdrawal from your U.S.
plan (converted into Canadian dollars
using the foreign exchange rate in
effect on the date of the withdrawal)
should be reported as taxable income
on your Canadian income tax return.
In addition, the contribution to
your RRSP should be reported as
a deduction to offset the amount
included in your taxable income.
In order to indicate to the Canada
https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/personal-income/line-12100-interest-other-investment-income.html
Line 12100 – Interest and other investment income
Interest and other investment income form part of your total income and must be reported on your return.
Interest, foreign interest and dividend income, foreign income, foreign non-business income and certain other income are all amounts that you report on your return as interest and other investment income. They are usually shown on a T5 slip, T3 slip and T5013 slip.
You may not receive a T5 slip if the investment income is less than $50, but you must still report the income.
You also have to report the interest on any tax refund that you received in 2023 as shown on your notice of assessment or reassessment.
Line 12100 – Interest and other investment income
Interest and other investment income form part of your total income and must be reported on your return.
Interest, foreign interest and dividend income, foreign income, foreign non-business income and certain other income are all amounts that you report on your return as interest and other investment income. They are usually shown on a T5 slip, T3 slip and T5013 slip.
You may not receive a T5 slip if the investment income is less than $50, but you must still report the income.
You also have to report the interest on any tax refund that you received in 2023 as shown on your notice of assessment or reassessment.
Wealthsimple 有FHSA啦
渣到期，係計interest income。IB canada出果張T5008都會寫明係bond, 稅局就自己識計入去interest income。
When you transfer the money back and get caught. You have to explain why you didn't report those interest in the past.
https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/compliance/electronic-funds-transfer-reporting.html
What is Electronic Funds Transfer Reporting?
International tax evasion and aggressive tax avoidance are costly to taxpayers worldwide, and are unfair to businesses and individuals who follow the rules. The Government is committed to growing Canada’s tax base by searching out tax cheats, while simultaneously lowering the tax burden for businesses and families.
Economic Action Plan 2013 introduced important new measures to combat international tax evasion and aggressive tax avoidance. These measures included the requirement for financial institutions to report international electronic funds transfers (EFTs) of $10,000 or more to the Canada Revenue Agency (CRA) beginning in January 2015. This information helps the CRA to identify taxpayers who may be participating in aggressive tax avoidance or who may be attempting to conceal income and assets offshore.
This new requirement to report to the CRA applies to the same financial intermediaries that are already reporting information on international EFTs to the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA). That means no added administrative burden or red tape.
What is considered an international electronic funds transfer?
An international electronic funds transfer means the transmission of instructions for the transfer of funds, other than the transfer of funds within Canada. This transmission can be done through any electronic, magnetic or optical device, telephone instrument or computer. In the case of Society for Worldwide Interbank Financial Telecommunication messages, only SWIFT MT 103 messages are included.
Reporting entities must report only EFTs of $10,000 or more. They must also report two or more EFTs of less than $10,000 each that are made within 24 consecutive hours by or on behalf of the same individual or entity when they total $10,000 or more, as these are considered to be a single transaction.
Which financial intermediaries are required to report electronic funds transfers to the CRA?
Financial intermediaries that must report are defined as “reporting entities” in the Income Tax Act (ITA). They include banks, credit unions, caisses populaires, trust and loan companies, money service businesses and casinos.
To find out more about who should report an electronic funds transfer to the CRA, go to Part XV.1 – Reporting of electronic funds transfer.
https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/compliance/electronic-funds-transfer-reporting.html
What is Electronic Funds Transfer Reporting?
International tax evasion and aggressive tax avoidance are costly to taxpayers worldwide, and are unfair to businesses and individuals who follow the rules. The Government is committed to growing Canada’s tax base by searching out tax cheats, while simultaneously lowering the tax burden for businesses and families.
Economic Action Plan 2013 introduced important new measures to combat international tax evasion and aggressive tax avoidance. These measures included the requirement for financial institutions to report international electronic funds transfers (EFTs) of $10,000 or more to the Canada Revenue Agency (CRA) beginning in January 2015. This information helps the CRA to identify taxpayers who may be participating in aggressive tax avoidance or who may be attempting to conceal income and assets offshore.
This new requirement to report to the CRA applies to the same financial intermediaries that are already reporting information on international EFTs to the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA). That means no added administrative burden or red tape.
What is considered an international electronic funds transfer?
An international electronic funds transfer means the transmission of instructions for the transfer of funds, other than the transfer of funds within Canada. This transmission can be done through any electronic, magnetic or optical device, telephone instrument or computer. In the case of Society for Worldwide Interbank Financial Telecommunication messages, only SWIFT MT 103 messages are included.
Reporting entities must report only EFTs of $10,000 or more. They must also report two or more EFTs of less than $10,000 each that are made within 24 consecutive hours by or on behalf of the same individual or entity when they total $10,000 or more, as these are considered to be a single transaction.
Which financial intermediaries are required to report electronic funds transfers to the CRA?
Financial intermediaries that must report are defined as “reporting entities” in the Income Tax Act (ITA). They include banks, credit unions, caisses populaires, trust and loan companies, money service businesses and casinos.
To find out more about who should report an electronic funds transfer to the CRA, go to Part XV.1 – Reporting of electronic funds transfer.
如果已經有樓 仲洗唔洗供個35000 home buyer plan?
Canadian residents 18 years or older but not more than 71 years on December 31 of the year you open an FHSA, who have a valid Social Insurance Number (SIN)
and are considered a first-time home buyer.
and are considered a first-time home buyer.
想請問如果海外收入 年薪當1200萬港紙 有咩方法交少d稅
what type? 海外收入
香港公司人工
are you physically in HK? Are you a Canadian citizen?
家下人仲係香港
遲d會以Owp 過去加拿大但照收香港人工
唔係citizen
遲d會以Owp 過去加拿大但照收香港人工
唔係citizen
HK$1,200,000 income will subject to over 51% tax and marginal rate of 53.5%. in Ontario
However, taxes you paid to HK will reduce your tax liabilities in Canada
https://turbotax.intuit.ca/tax-resources/canada-income-tax-calculator.jsp?cid=ppc-br_en_fy24_pros_goog__paid_na_pmax_product_id=_zen_campaignid=19581176602&gad_source=1&gclid=CjwKCAjw3NyxBhBmEiwAyofDYWVPsAKr-Ugj7TggeGc7TMhRvY5XmodIkCBsu4eKKhLCjZm8KHhzqBoCvaYQAvD_BwE&gclsrc=aw.ds
However, taxes you paid to HK will reduce your tax liabilities in Canada
https://turbotax.intuit.ca/tax-resources/canada-income-tax-calculator.jsp?cid=ppc-br_en_fy24_pros_goog__paid_na_pmax_product_id=_zen_campaignid=19581176602&gad_source=1&gclid=CjwKCAjw3NyxBhBmEiwAyofDYWVPsAKr-Ugj7TggeGc7TMhRvY5XmodIkCBsu4eKKhLCjZm8KHhzqBoCvaYQAvD_BwE&gclsrc=aw.ds
感謝你的幫忙！