Jump to content

TS_123

Members
  • Posts

    31
  • Joined

  • Last visited

Posts posted by TS_123

  1. On 12/28/2017 at 6:01 PM, legendqueue said:

    Can you elaborate on this?  From what I've read (e.g. http://www.taxplanningguide.ca/tax-planning-guide/section-2-individuals/giving-canadian-residence/) departure tax doesn't apply to cash deposits, so why do you need to pay departure tax on cash?  

    If you kept your currency in CAD then you do not. If you converted some money to USD and the ex rate at the date you depart is lower, you have realized a capital gain hence you will pay a departure tax on it. 

  2. I have my IR1 (green card) visa stamped on my passport and will have it activated once I cross the border where I will present my CAD passport along with the sealed envelope.  I just want to know how long the process takes so I can determine how soon I need to get to the airport for my flight.

     

    Thank you

  3. How many hours before my flight should I show up at the airport for visa activation?  I'm guessing it won't be more then half hour for the customs officer to open my sealed yellow package and verify the contents and then allow me to get on with my flight.

     

    Am I under/overestimating?

  4. On 12/18/2017 at 7:05 PM, greentea123 said:

    Hi everyone! I've been undergoing the CR1 visa process for the past year. I had my interview on November 20th at the US Consulate in Montreal and received my passport with the visa in it at the end of November. As I prepare and plan for my POE next week, I'm tying up loose ends in Canada - including my finances.

     

    My main question is related to my TFSA and RRSP: what are some recommendations for maintaining or collapsing if the total value is less than $15,000 CAD? Should I leave them as is, or should I withdraw/collapse both and leave them in a Savings account? I'd prefer to keep Canadian funds in Canada.

     

    Also, do I need to inform the CRA about changing my residency before I leave? Or after?

     

    Any advice on navigating these topics would be appreciated!

     

    Cheers!

    I actually paid good money to speak with a Tax accountant in Toronto to discuss this very topic.

     

    If you move to the US and cut all ties with Canada then you will have to pay a departure tax (your situation may vary if you do in fact have to pay).  Myself for example, I had converted large sums of money from CAD to USD over the past several years at an exchange rate above the current exchange rate.  If I cut all ties to Canada then I will have to pay a departure tax based on the income I received from the time I purchased USD to the current exchange rate at time of departure.

     

    As far as TFSA are concerned, they are NOT one of the vehicles that are exempt in the US, meaning you will have to pay capital gains tax every year I believe on your TFSA.  Before I depart, I will be rolling my TFSA brokerage account and make a contribution to my RRSP brokerage account.  

     

    RRSP's have a decent advantage if you move to the US.  If you do a gradual withdrawl over x number of years, you will only have to pay 15% CAD tax and that too, can be used a foreign tax credit for your US taxes.

     

    Prior to moving to the US however, it's important to crystalize your RRSP's shortly before you move and repurchased the RRSP's so as your gain as minimum.

     

    Best to speak with a Tax specialist that specifically files for Canadians living in the US.

  5. 30 minutes ago, acidrain said:

    You honestly won't have any problems. I got denied at the border and got into a lengthy discussion with the supervisor. If a person is a US citizen they have to let the person through (unless as someone else pointed out they are misrepresenting themselves). It just takes a supervisor to sign off on it because the first officer doesn't have authority.

     

    If it makes you feel any better my son does not hold citizenship and only has a claim to it. My spouse has not lived the 2 years as an adult so we have to go through the IR2 process (green card which activates to citizenship). I have been told repeatedly my son can live in the US based on his citizenship claim. Obviously he has no US passport. However, I was not given the same permission because I am just married to a citizen and have no rights.

     

    I get asked every time I cross why my son does not have a US passport. Then I have to explain immigration law. From my experience they shrug the whole thing off.

     

    One of the funniest things the guy who denied me entry said was a US citizen can cross naked and there is nothing they can do about it. My spouse has crossed without showing proof of citizenship which was fortunate cause they didn't have to. He has gone through the Supervisor process in Vancouver, Seattle and Las Vegas airport. So all three places let him through with only a Canadian passport. There was just a slight hold up because a Supervisor had to come over and sign off. They just give you the "you know you have to get a passport right"? If you have to report to secondary for the green card activation then it won't be a big deal.

    Do you think I should even bother with going to get the kids passport then tomorrow morning or should I just wait till I get there in a few weeks and apply then?  Going tomorrow is going to be a real hassle...

  6. 4 hours ago, acidrain said:

    My spouse who is a dual citizen faced this issue when he started living in the United States. He got hassled at the border and told if he was going to start living in the US he had to get a US passport. They just changed this rule in the fall of 2016. So if you are dual you swipe the passport of each country you are entering (e.g. if you enter the US use your US passport, if you enter Canada use your Canadian passport).

     

    What will happen if you don't have a passport is your kids will go into secondary where a supervisor will have to give authorization to allow them entry. It's just a formality but expect the lecture about how they are supposed to have US passports. They allowed my spouse 3 times entry without a US passport and I told him you better get one before you run out of luck. There was honestly no issue with him entering the US, after all he was a citizen. All the Supervisors were actually pretty friendly but it did delay his trip. One time he forgot his birth certificate and almost got turned around. Don't make the same mistake of not showing proof of citizenship. They will need proof of citizenship.

    I'll find out tomorrow morning if they are able to issue the passports post haste...if not, at least your post is refreshing news.  Being that my children are 2 and 6 will hopefully help in giving them a pass should I not be able to obtain the passports in time, after all..they are US citizens by birth via consular abroad.  They shouldn't be turned away...

  7. 1 hour ago, Ontarkie said:

    Someone dropped the ball here. Where the kids traveling with both parents or just the Canadian? If just the Canadian parent I can see how they didn't connect the  dots. 

    Flying absolutely must have passports. 

    Again, I've flown multiple times with myself and my wife with the kids (both American citizens via birth abroad) flying with Canadian passports and we have never had issues.  The reason I'm concern now is my moving company mentioned that might be a problem hence the last minute panic.  I'll see what they say tomorrow...

  8. 1 hour ago, Mollie09 said:

    You might be surprised at their turnaround. Especially if you're willing to pay more.

    I'm going to tomorrow to the US consulate in Toronto to apply for their passports.  I hope I'm able to get it in time.  If not, I'll have to take my chances.  Again, both my kids have been US citizens via consular birth abroad for quite some time and have traveled by air from Canada to the US on a Canadian passport so I guess they didn't know that my kids were not American Citizens.  That would be worst case scenario...if they ask, i will obviously tell them.  Let's see...

  9. I'm in a really bad situation....I'm flying out on end of Dec.  I doubt the US Consulate in Toronto will be produce the passports this fast although I have an appt. tomorrow.  I have no choice but to fly out that date as my home here in Toronto is sold and my new home in the US is built....I'll see what they do tomorrow....not good....

  10. 2 minutes ago, payxibka said:

    If you want them to enter as US citizens and remain they must enter on a US passport.  Otherwise they will enter as Canadian citizens and be granted only a short term stay if they are allowed to enter at all

    so it's dependent on the custom officer...a gamble.

  11. 24 minutes ago, TS_123 said:

    I have my Visa approved, ready to activate when I cross the border at end of month.  My wife (sponsor) is a US Citizen.  My 2 kids were born here in Canada but both have US Consular Birth Abroad Birth Certificates.  Will I have any issues crossing/migrating across the border if my kids have Canadian, not US passports so long as I bring the US Consular Birth Abroad Birth Certificates?

     

    Thank you!

    I just called US Customs and they said if I'm travelling by air, then they must use US passports...I don't see how this make sense because they have traveled to the US before as Dual Citizens by air before with no issues....not sure what to do?

  12. I have my Visa approved, ready to activate when I cross the border at end of month.  My wife (sponsor) is a US Citizen.  My 2 kids were born here in Canada but both have US Consular Birth Abroad Birth Certificates.  Will I have any issues crossing/migrating across the border if my kids have Canadian, not US passports so long as I bring the US Consular Birth Abroad Birth Certificates?

     

    Thank you!

  13. How soon after I cross the border with my approved visa papers (IR1 Visa) that i'm I able to obtain a SSN to begin employment?

    Will I be able to obtain a SSN the moment I arrive in the US or will I have to apply and wait until it's mailed to me? 

     

    I don't want to delay/decline any employment opportunities should one be available upon my arrival or shortly there after.

     

    Thank you!

     

     

  14. Hi,

     

    I have received my visa and it's ready to activate upon point of entry.  I intended to travel with my family (my wife is the American citizen) at end of December as a family.  I received a call today for a job interview end of this week in the US.  Would I be able to activate my visa without my family for the interview or do I have to travel with my family in order for them to activate my visa?

     

    Thanks,

  15. Both children have US Birth certificates via consular birth abroad.  This was a while ago however, and i cannot recall if I received a SSN for the kids which is required prior to enrolling them in school.  The Toronto US Consulate no longer takes applications for SSN.  Any ideas as to how can determine if my kids were in fact, given a SSN?  If they haven't, how do I apply for it abroad?

     

    Thanks,

  16. On 11/24/2017 at 10:08 AM, acidrain said:

    Thank you jle2234 for sharing your experience. I go back and forth whether to have my spouse take time off work and drive a U-haul down (I can't drive those things) or just hire a moving company. Atlas is one of the few that service the area I live in. I am so sorry you had so much damage done to your belongings. That's awful. I am astounded at the cost of shipping items from Canada to the US and the lack of moving companies in smaller cities. I realize people need to be compensated for their time. But I was told for our move I think the cheapest we would be looking at is just under $5,000 if we went with a moving company. The one thing I hate about U-Haul though is they do not put winter tires on their trucks in the winter making it a little scary to drive.

     

    I will add the one thing that is so important when shipping items cross border is itemizing your shipment. I tried crossing in Jan to adjust status and was denied. But the border officials did say they very much appreciated my organizational skills when it came to declaring our goods. Experienced moving companies will know how to do this but if you ship them down yourself you must provide a list of everything you are taking across.

     

    I numbered each box and put in point form exactly what was in that box. I also included loose items that did not fit into boxes. This helps the border determine which boxes if any they need to go through instead of tearing apart your shipment. This also helps them determine if there would be any import fees such as if you had really expensive artwork, alcohol, smokes or unique goods passing through. For the vast majority of us we have goods worth less than $10,000 garage sale value so we don't have to pay anything. They are also doing their usual search for things like food and if you have over $10,000 cash.

     

    For instance I wrote:

    Box 1 (the box was labeled with a sheet of paper)

    - paperback novels

    - wine glasses

    - XX shoes

    Yes, I received a quote from Atlas at it was way too expensive.  We are going with orbit international...will let you know how it goes on Dec 29th.

  17. On 10/6/2017 at 2:56 PM, TS_123 said:

    Will let you know Nov 21 ;)

     

     

    And the 21st was today :). Happy to say I was approved!  Wife (US Citizen/Sponsor), the kids and myself are here in Canada and we were able to prove our intent to establish domicile with the following evidence:

     

    -Real Estate contract to buy new home in the US along with in-progress pics of our home being built

    -Emails between myself and our builder in terms of the progress and closing date

    -Wire transfers to builder for home upgrades

    -receipt of housing inspection

    -Real Estate sales contract of our home in Canada proving our house has been sold and will be closing end of December

    -Business LLC set up along with business account with BOA

     

    That's pretty much it!  The person who interviewed was super friendly and a pleasure to deal with.

     

    Any questions, let me know.

  18. On 9/24/2017 at 2:43 PM, hitexuga said:

    Can anyone else share recent experiences of being approved or denied in Montreal due to domicile?

     

    Just read this whole thread end to end (haha, yep) but so many of the cases are from so long ago! 

     

    Thanks! 

    Will let you know Nov 21 ;)

     

     

×
×
  • Create New...