CRA and UK premium bonds
#1
Forum Regular
Thread Starter
Joined: Jun 2010
Location: Rossland, BC
Posts: 201
CRA and UK premium bonds
Hi, I was just wondering if anyone has actually checked with CRA as to whether you have to declare UK premium bond winnings (which are tax-free in the UK) on your tax return?
Also, has anyone challenged the rule that a tax-free (in the UK) lump sum payment from a UK pension is taxable in Canada (unless it is invested directly into some type of Canadian pension)?
Thanks
Also, has anyone challenged the rule that a tax-free (in the UK) lump sum payment from a UK pension is taxable in Canada (unless it is invested directly into some type of Canadian pension)?
Thanks
#2
Just Joined
Joined: Aug 2023
Posts: 9
Re: CRA and UK premium bonds
The UK pension lump some topic has been on here for many years. Every thing you need to know is on the enclosed post. READ ME. PENSION RULES UK to Canada
#3
Forum Regular
Thread Starter
Joined: Jun 2010
Location: Rossland, BC
Posts: 201
Re: CRA and UK premium bonds
The UK pension lump some topic has been on here for many years. Every thing you need to know is on the enclosed post. READ ME. PENSION RULES UK to Canada
#4
Binned by Muderators
Joined: Jul 2007
Location: White Rock BC
Posts: 11,682
Re: CRA and UK premium bonds
As for the tax-free 25% - aaaaaaaaaaaaaaaaaaaaaaagggggggggggggggggghhhhhhhhh hhhhhhh!
#5
Forum Regular
Joined: May 2021
Location: Stony Plain, AB
Posts: 102
Re: CRA and UK premium bonds
Hi, I have asked the same question before, not that I've ever won anything much but do get regular small wins. I do not worry about declaring them, I just treat it as lottery winnings. In the event of a big win I'd pull the money here as I believe that NS&I and my UK bank report interest etc to CRA as I am registered with them as a Canadian taxpayer.
#6
Re: CRA and UK premium bonds
Hi, I have asked the same question before, not that I've ever won anything much but do get regular small wins. I do not worry about declaring them, I just treat it as lottery winnings. In the event of a big win I'd pull the money here as I believe that NS&I and my UK bank report interest etc to CRA as I am registered with them as a Canadian taxpayer.
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