I am trying to figure out how to go about filing the first year tax return as a Canadian PR. For 2019 I lived for a few months in the US and was employed there, the rest of the year in Canada on PR and employed here. I would appreciate anyone who can share their first year tax filing experience. Thanks!
My company has hired Deloitte for providing consultation regarding the US/Canada move, but I will still want to get it reviewed by my old US based financial tax advisor and a local advisor in Canada. Looking for recommendations for a good tax advisor in GTA.
As far as I know US and Canada have tax treaty to avoid double taxation. Since there was no overlap between your US and Canada incomes, you can probably file two separate tax returns, mentioning your US salary period in Canada tax returns, and Canada salary returns in US tax returns. The tax treaties if any, can probably be mentioned in the the relevant NR forms (for IRS). However, I highly recommend going to a tax consultant than taking advice from me (I’m in the same boat as you and going to do the same).
one thing that I need to be mindful of (and probably some more folks here), is that Canada taxes on global income after you become resident of Canada. So if you received a final settlement or some paycheck from your US employer after your final move to Canada, then you need to let your step-Uncle “Charles” (aka CRA) and pay tax on it in Canada, so your real Uncle Sam will not double tax you on that amount.