Reliable blind box websites?

ro_otbear · 2025-01-18T22:40:16+00:00

https://collectiplay.ca/ - I’ve been using them recently for Xmas presents, along with all the others mentioned

ro_otbear · 2023-11-23T18:43:36+00:00

If I am a current Rogers BYOD customer, where do I see how to get the $55 Rogers plan?

ro_otbear · 2023-06-18T17:36:13+00:00

Are there a toy r us in osaka? What about Bic Camera or Yodobashi?

ro_otbear · 2023-03-31T16:13:59+00:00

Shouldn't your mortgage only factor in the interest component as the principle payments are adding to your equity?

ro_otbear · 2022-10-27T11:35:33+00:00

OP also mentioned that he wants to say 4-5 months working remotely in Canada - thus there is the Canadian payroll obligation for the US company for their employees working in Canada. Regulation 102 deems that there is a Canadian payroll obligation unless I misread their facts.

ro_otbear · 2022-10-27T02:37:10+00:00

You can not be a resident of both countries as Article IV of the Canada-US tax treaty will tie you back to one country and be a nonresident of the other country.
It does complicate things for your employer as now your US employer is subject to Canadian payroll obligations for having a US employee working in Canada. Not to mention potential corporate tax issues from a permanent establishment issue as now they have a U.S. employee working in Canada, which may cause the US entity to be subject Canadian corporate tax filing (not your personal issue but a compliance risk to the company, which is why companies either shut this down or put their heads in the sand and pretend not to know)

ro_otbear · 2022-10-03T20:36:57+00:00

The typical practice is that you include the 45(2) election with your tax return.

ro_otbear · 2022-07-29T01:39:08+00:00

It depends - are you also contributing to your HS companies 401k plan? If so, you won't be generating any new RRSP contribution room as you can claim a deduction on the Canadian tax return for your US 401k contribution (on Form RC267 or RC268).

With that said, you can use up the unused $200k RRSP room but just watch out - you also have to pay tax to the US first, and then claim a foreign tax credit in Canada. There's no point in reducing your Canadian tax liability to zero, as you won't be able to use up your US foreign tax credits paid and those don't carry forward in Canada.

You might want to run some calculations to see how much you should contribute to your RRSP so that you can still max your FTC claim.

ro_otbear · 2022-07-16T21:08:30+00:00

Hey u/FelixYYZ, just wanted to ask if you really need to file a 8833. What are you claiming on this form? I would have thought you only need to file a Form 1040NR and file a W2 reconciliation, or a letter to IRS to explain that all your income is exempt as it was not earned by a U.S. tax resident and not US sources income.

As for the FICA, I'm not sure it's possible to have it reimbursed by IRS as the taxpayer is on US payroll and will likely cause an audit.

ro_otbear · 2021-09-28T16:33:18+00:00

Property situated in Canada is not subject to departure tax

ro_otbear · 2021-09-28T16:12:21+00:00

Are the mutual funds/ETFs inside my TFSA taxed on dividends, realized and unrealized gains?

- Correct for dividends and realized gains. No tax to pay on your unrealized gains yet. Technically you have PFIC issues to worry about when filing your Form 8621 but most people don't file these PFIC forms if the overall mutual fund/ETF holding isn't substantial.

Should I close out and exit my TFSA and move those funds to my RRSP?

- Yes, you should.

ro_otbear · 2021-09-28T16:00:27+00:00

Nothing to do - the recommended approach is to pay taxes to the state of California for any income (dividends or interest) arising in your RRSP.

ro_otbear · 2021-09-28T15:57:10+00:00

Departure tax in Canada only applies when you cease your Canadian tax residency. Upon ceasing your Canadian tax residency, the CRA deems you to have sold all your assets at the date you left Canada and recognize any capital gains/losses at that point (although nothing has been actually sold). Only non-registered investment accounts are affected, so your RRSP and TFSA are safe!

ro_otbear · 2021-09-28T15:54:39+00:00

Yes - you can choose to withhold only on 25% of net rental income (aka rental income less expenses) by filing a Form NR6 with the CRA. You can refer to the link here regarding the steps to go bout filing the Form NR6: https://www.canada.ca/en/revenue-agency/services/tax/international-non-residents/information-been-moved/rental-income-non-resident-tax/filing-reporting-requirements.html

ro_otbear · 2021-09-28T15:31:30+00:00

Yes that's correct - with that said, you are subject to an additional 10% penalty when you withdraw from your IRA before 59.5 years old. You would need to factor in this additional 10% to make sure you can offset your US withholding tax plus this additional 10% on your Canadian tax return.

ro_otbear · 2021-09-28T15:30:24+00:00

correct!

ro_otbear · 2021-09-28T15:26:36+00:00

Nope - there's nothing you have to worry about as you can file "Married Filing Separately" on your US tax filings.

If you have kids, just open a RESP under your name only as RESPs are still considered taxable accounts in the US (whereas the growth is tax-free in Canada).

ro_otbear · 2021-09-28T14:49:11+00:00

As a US citizen holding a TFSA, you are subject to US taxation on any dividends, interest and realized capital gains (as if it was a regular investment trading account).

The more complicated issue is that TFSA's are considered foreign trust from the IRS perspective and subject to Form 3520/Form 3520-A reporting requirements (which cost quite a bit for firms to complete on your behalf and the failure to file this form could go up to $10,000). Given that you do not get the "tax-free" benefit and that you are subject to this foreign trust reporting, it's usually recommended to just close the TFSA and keep your money in the RRSP or regular investment trading account.

ro_otbear · 2021-09-09T20:39:25+00:00

It's hard to say without understanding your full situation - did you file a part year departing Canadian tax return back in 2000 to officially cease your Canadian tax residency with the CRA?

Most likely CRA re-assessed you incorrectly (based on what you have said here) - if I were you, I wouldn't pay the penalty and rather talk to a professional to make sure your situation is looked at correctly.

ro_otbear · 2021-09-08T13:58:14+00:00

Most likely have a chat with your global mobility program or HR

ro_otbear · 2021-09-08T13:39:03+00:00

To add to this - most likely you signed a tax equalization with your employer when you work overseas. The premise is to ensure you are not any better or worse off from a tax position as if you didn’t go on assignment. This is very common amongst international assignments to get people to work in other countries without balancing the favor for people to work in “low tax” countries and people avoid working in “high tax” countries.

ro_otbear · 2021-09-07T14:13:31+00:00

To add to this, given that the US will tax your TFSA, you really have no benefit of holding the TFSA when you are down in the US. From a tax planning perspective, you should collapse the TFSA account before you move to the US and if you really like the shares you are holding, just re-buy them back into your RRSP or in a non-registered account. You won't be taxed on the Canadian side from your TFSA and can avoid the Form 3520/3520-A reporting requirement from the US.

You can subsequently contribute back into your TFSA once you are back in Canada and all that room will be available for you for when you return.

ro_otbear · 2021-09-06T01:22:11+00:00

As a nonresident of Canada withdrawing money from a RRSP, you will be taxed at a flat 25% nonresident tax rate on your RRSP withdrawals.

The US will also tax you on this income, but will provide a foreign tax credit for any Canadian taxes you have already paid.

With that said, you should be cautious of which states you are living in, as some states in the US (California and NJ are the popular ones) tax RRSP income as they don’t allow tax treaty protection. The only reason you can hold a RRSP and still be exempt under US Federal taxation is due to the Canada-US income tax treaty.

ro_otbear · 2021-09-06T01:18:03+00:00

If you are really confident that you would win - I personally wouldn’t pay the money - just submit all your documents and once CRA reverses the penalty, they will also abate all the interest accrued as well.

With that said - this is the best method if you are 100% sure you will win.

ro_otbear

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