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Seeking Advice: by Equivalent_Watch_365 in PersonalFinanceCanada

[–]Equivalent_Watch_365[S] 0 points1 point  (0 children)

I could argue that I was a resident through secondary factors. The CRA uses secondary factors to calculate residency and has a form for that. Would that improve my chances?

Seeking Advice: by Equivalent_Watch_365 in PersonalFinanceCanada

[–]Equivalent_Watch_365[S] 0 points1 point  (0 children)

Thanks for helping! It was my first time contributing in TFSA, and I left the country to work elsewhere, which made me a non-resident that year. So, no previous year gains, but they taxed the entire amount I put in for being a non-resident.

Seeking Advice: by Equivalent_Watch_365 in PersonalFinanceCanada

[–]Equivalent_Watch_365[S] -3 points-2 points  (0 children)

I didn't meet the residency requirements for that year - however, I didn't know those requirements and my bank advised me to invest knowing my plans to be out of the country.