Tax on US Pension/retirement funds in Ontario, Canada Key Points U.S. pension and retirement funds are generally taxable in both the U.S. and Canada. The Canada-U.S. tax treaty helps avoid double taxation by allowing tax credits for taxes paid to the other country. It’s important to properly file and report U.S. pension income on Canadian…
Everything you Need to Know about form T1135 In addition to income reporting tax forms we also need to complete informational reporting forms for our clients. One example of such forms is form T1135 – foreign income verification statement. What is Form T1135? According to CRA’s official website the first iteration of the T1135 was…
RRSP payment to UK resident withholding tax? Question Hello, I moved from Canada in 2003 and left my RRSP in Canada. I’m planning on withdrawing $10,000 from the RRSP this year. How much Canadian tax will they withhold? Thanks for your time. XXXXX Answer Hi XXX Canada will withhold 25% of the RRSP payment at…