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I am a Canadian citizen, but nonresident of Canada for tax purposes. I currently live in the US.

I have a savings account at a Canadian bank in Canada and have earned a little bit of interest, around $300 in 2015. As a nonresident of Canada I do not file taxes in Canada. Am I supposed to pay income tax on this interest earned? How do I do so?

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You should read up on the subject, as it is not straightforward. A good starting point is here: http://www.cra-arc.gc.ca/tx/nnrsdnts/ndvdls/nnrs-eng.html

  • As a nonresident you do have to pay tax on income from Canadian sources.
  • Your bank should be deducting income tax or withholding tax from your interest. You may need to tell them you are nonresident. They should be sending you a statement of what they have deducted.
  • if this is true for all your Canadian income you do not have to file a tax return. See here for more details of who has to file returns: http://www.cra-arc.gc.ca/tx/nnrsdnts/ndvdls/nnrs-eng.html

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