Question about tax residency
Jun 22nd 2022, 8:25 am
#1
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Joined: May 2022
Posts: 4
Question about tax residency
Good Morning,
My wife and I are moving to Canada in September, she is already a citizen but has been living in the UK for the past 5 years. She still has an RBC account from when she was a resident in Canada.
As part of the prep we transferred some of our savings to her RBC account to pay for our new rental apartment, startup costs etc.This was £9000 so about $14000 CAD.
The transfer went through but she recieved an email from RBC today saying they need her to confirm her tax residency, I assume we triggered an automatic query by depositing a large amount, the forms are going to be sent to the address she has on file at present (her mothers house) - technically at present she is still a UK taxpayer and has been taxed on this already, from September she will be soley a Canadian tax resident and automatically taxed as part of her new job. We are just wondering what is the best way of filling in the form, I assume indicating she's still a UK resident at the time the form was sent and providing proof?
I also have my house on the market in the UK, it's likely to sell before I move to Canada and we'll have an additional $110,000 CAD in funds to transfer over, as I am not a Canadian citizen or PR I assume there won't be an issue here as long as I bring the money with me as funds when my PR is granted?
Thanks,
Jon
My wife and I are moving to Canada in September, she is already a citizen but has been living in the UK for the past 5 years. She still has an RBC account from when she was a resident in Canada.
As part of the prep we transferred some of our savings to her RBC account to pay for our new rental apartment, startup costs etc.This was £9000 so about $14000 CAD.
The transfer went through but she recieved an email from RBC today saying they need her to confirm her tax residency, I assume we triggered an automatic query by depositing a large amount, the forms are going to be sent to the address she has on file at present (her mothers house) - technically at present she is still a UK taxpayer and has been taxed on this already, from September she will be soley a Canadian tax resident and automatically taxed as part of her new job. We are just wondering what is the best way of filling in the form, I assume indicating she's still a UK resident at the time the form was sent and providing proof?
I also have my house on the market in the UK, it's likely to sell before I move to Canada and we'll have an additional $110,000 CAD in funds to transfer over, as I am not a Canadian citizen or PR I assume there won't be an issue here as long as I bring the money with me as funds when my PR is granted?
Thanks,
Jon
Jun 22nd 2022, 3:00 pm
#2
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Joined: Oct 2007
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Posts: 34,033
Re: Question about tax residency
Good Morning,
My wife and I are moving to Canada in September, she is already a citizen but has been living in the UK for the past 5 years. She still has an RBC account from when she was a resident in Canada.
As part of the prep we transferred some of our savings to her RBC account to pay for our new rental apartment, startup costs etc.This was £9000 so about $14000 CAD.
The transfer went through but she recieved an email from RBC today saying they need her to confirm her tax residency, I assume we triggered an automatic query by depositing a large amount, the forms are going to be sent to the address she has on file at present (her mothers house) - technically at present she is still a UK taxpayer and has been taxed on this already, from September she will be soley a Canadian tax resident and automatically taxed as part of her new job. We are just wondering what is the best way of filling in the form, I assume indicating she's still a UK resident at the time the form was sent and providing proof?
I also have my house on the market in the UK, it's likely to sell before I move to Canada and we'll have an additional $110,000 CAD in funds to transfer over, as I am not a Canadian citizen or PR I assume there won't be an issue here as long as I bring the money with me as funds when my PR is granted?
Thanks,
Jon
My wife and I are moving to Canada in September, she is already a citizen but has been living in the UK for the past 5 years. She still has an RBC account from when she was a resident in Canada.
As part of the prep we transferred some of our savings to her RBC account to pay for our new rental apartment, startup costs etc.This was £9000 so about $14000 CAD.
The transfer went through but she recieved an email from RBC today saying they need her to confirm her tax residency, I assume we triggered an automatic query by depositing a large amount, the forms are going to be sent to the address she has on file at present (her mothers house) - technically at present she is still a UK taxpayer and has been taxed on this already, from September she will be soley a Canadian tax resident and automatically taxed as part of her new job. We are just wondering what is the best way of filling in the form, I assume indicating she's still a UK resident at the time the form was sent and providing proof?
I also have my house on the market in the UK, it's likely to sell before I move to Canada and we'll have an additional $110,000 CAD in funds to transfer over, as I am not a Canadian citizen or PR I assume there won't be an issue here as long as I bring the money with me as funds when my PR is granted?
Thanks,
Jon
Just checking, but you're aware of the 'dual intent' rules if you haven't got PR before you move? Hopefully your application is well underway and you've already got SA, but just thought I'd flag it just in case.
Good luck with it.
Jun 22nd 2022, 3:42 pm
#3
Just Joined
Thread Starter
Joined: May 2022
Posts: 4
Re: Question about tax residency
I won't be moving until I have PR - I will be visiting but not moving. Having a quick look at dual intent I believe I could prove I would return (I still have a job in the UK until I get PR, I still have a house etc.)
