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Old 03-13-2013, 10:46 AM   #9
puckhog
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Join Date: Oct 2007
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Quote:
I definitely don't think I need to pay taxes in Canada, but I am just trying to understand how it works paying taxes down here on foreign income.
As a non-resident you still have to pay taxes on income from a Canadian source, including Canadian investment income. But, the person paying you is bound to withhold and pay 25% as a non-resident tax, so you shouldn't have to file anything in Canada. Is there anything on the T5 that indicates if the tax was withheld?

Also, as far as I know, as a US resident, you are now taxable on your worldwide income, so the amount will have to be included in your income. There may be an offsetting credit that you can use for the tax that should have been paid in Canada.

Not sure if this was helpful or not.
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