Canadian Tax Return Preparation for US Expats in Canada
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The Canada equivalent to the IRS is the Canadian Revenue Service (CRS). They are formerly known as Revenue Canada and the Canada Customs and Revenue Agency. The Canadian Revenue Service is the federal agency of the Canada government that administers tax laws for the Government of Canada and for most provinces and territories, international trade legislation, and various social and economic benefit and incentive programs delivered through the tax system.
Preparation of your Canada Tax Return may be a requirement if you’re an American living in Canada.
Gain access to Canadian expertise: Work directly with a Canadian Accountant who has special expertise in filing Canadian taxes for American expats
Save Time: Benefit from collaborative work between your US accountant at Greenback and your Canadian accountant, saving you time in sharing information and tax documents
Save Money: Enjoy maximum tax savings as a result of this combined expertise and joint approach
Can I get just my Canada tax returns done with Greenback?
In short, yes. Greenback will refer you to a trusted and certified expat accountant in Canada who can file your Canada tax returns. Because we’ve had a long relationship with our Canada accountant who is familiar with US expat taxes, we do recommend having Greenback file US tax returns, and our trusted Canada accountant file your Canada tax returns to further streamline the process. However, if you need only your Canadian returns filed, we will gladly connect you to our partner.
How much do your Canada tax services cost?
Please contact us for a price quote.
What documents do I need to have ready to file my Canada tax return?
The documents required vary depending on the individual; however, the below documents are a good place to start the gathering process.
Any US federal or state filings for the year
Your T4 slips (Employment income) for the year(s) in question
Employment insurance benefits (T4E)
Interest, dividends, mutual funds (T3, T5, T5008)
RRSP contribution receipts
Calendar showing dates you were outside of Canada that year
Bank interest received in Canada that year
Any capital gain statements
Any rental income and expenses
What is the process for filing both my US and Canada expat tax returns? Will I have to upload everything twice?
No! Your Greenback accountants will coordinate so that you don’t waste time uploading your documents twice. Both your US and your Canada accountants will have access to the same secure file, so you just need to upload your documents once to one place and then we do the rest.
What services do you offer for US expats living in Canada?
We can refer you to our Canada accountant to complete your Canada Tax Return or assist with your business returns. They also offer one-on-one consultations to discuss your specific tax situation.
When do my Canada expat taxes have to be filed?
Canada taxes are usually due by April 30th following the end of the tax year.
When is considered the end of a tax year in Canada?
The Canadian tax year is January 1 through December 31, which makes filing your US expat taxes easier because you do not need to pro-rate your income!
How do I qualify as an American expat?
The IRS has multiple tools in place to eliminate dual taxation, but you must qualify as an American expat to take advantage of some of them.
In order to qualify as an American expat for the Foreign Earned Income Exclusion, you must meet the following requirements:
You must have foreign earned income.
Your tax home must be in a foreign country.
You must do one of the following:
Pass the Bona Fide Residence Test – A US citizen who is a bona fide resident of foreign country or countries for an uninterrupted period that includes an entire tax year, basically meaning you live abroad with no intention of permanently returning to the USA;
Pass the Physical Presence Test – A US citizen or a US resident alien who is physically present in a foreign country or countries for at least 330 full days during any period of 12 consecutive months; or
Be a US resident alien who is a citizen or national of a country with which the United States has an income tax treaty with a non-discrimination article in effect.
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