I'm a Canadian living and working in the US, so I file and pay income taxes in the US, and am a non-resident of Canada for tax purposes. I am aware of my filing obligations to the IRS, but I have some questions about filing/paying to the CRA:
- I have some interest income on a regular savings account. No taxes were withheld. Am I correct to believe I don't have any filing or payment obligation to the CRA due to the tax treaty with the US?
- I have a TFSA that earned a tiny amount of interest income. If I fill in this form, it tells me I owe 25% income tax on it. Can that be right? Does TFSA really lose CRA tax-free status by becoming a non-resident? http://www.cra-arc.gc.ca/partxiii-calculator/ (Note: I am aware I will owe the IRS.)
- I also have a Canadian brokerage account which contained publicly-traded US ETFs. There were no capital gains, but I did receive dividends. These dividends were automatically withheld at 15%, paid to the US (not Canada). Do I owe anything to Canada?
I spoke to an accountant who recommended I fill out a "simple" form for the dividends, but I have had no luck locating any such form. Any help would be appreciated.