thanks to Banker, but I don't agree on this part...I noticed this topic is discussed about two years ago, still want to throw in my 2 cents.
Your foreign content margin (30%) is only calculated when you first invested. Even if the value of your domestic part of the portfolio droped later on, you don't need to do anything to make it up to 30% again.
-bono(Monarch);
2003-10-22{301}(#1427791@0)
Take this one:Question about RRSP liquidation after giving up residency:
If I had been in the plan say 5 years, and now moves to another country. I want to liquidate my Canadian RRSP. How am I going to be taxed in Canada? Theoretically since I have given up my residency, I can be only taxed on my Canadian source Income, so my tax bracket will be lower than when I contribute into the plan... Is there any other penalties?
-rounder(rounder);
2001-11-7{416}(#252005@0)
federal rrsp de-reg withholding tax for non-resident is 25%, so it's big amount.
-banker(见面熟);
2001-11-7(#252009@0)
Thanks banker. About with-holding taxIf I withdraw 30k from that RRSP that year after I give up residency, I will be taxed at 17% of that 30k when I file the tax return. Will Revenue Canada refund me of that 8% which it withhold in excess?
-rounder(rounder);
2001-11-7{203}(#252058@0)
明天上班查查再告诉你.
-banker(见面熟);
2001-11-7(#252312@0)
i think you will have to get your answer from revenue canada, becauseif you are not a canadian resident, which means you don't need to report tax here, you will pay tax at the country you reside.
why don't you de-reg before you move out canada, therefor you can get back the overpaid tax protion.
my 2 cents
-banker(见面熟);
2001-11-8{245}(#253214@0)