reporting world income

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duni50
Member since: Jul 12

Posts: 1
Location:
Post ID: #PID

Posted on: 31-07-12 11:57:51

Hi -- I am a Canadian citizen who worked overseas for a non-Canadian org. and had a non-resident status then. Now, I am back in Canada. I pay my taxes in India as I have rental property. I am retired and have no income in Canada, except my RRSPs which I am withdrawing. I get a small amt. of CPP and my OAP has not yet started.

I stay in Canada for only 5 months each year.

1. Do I have to file CDN income tax return? If yes,

a) Do I have to report interest from NRE FDs and dividents from mutuals funds (purchased from NRE acc) under 'world income'. in the Income tax return of Canada? I have filed my returns in India and these fall under non-taxable income.

2. Do I have to report redemptions of FDs under ' world income'?

Please advise.

high vision
Member since: Jul 12

Posts: 95
Location: Somewhere on Earth
Post ID: #PID

Posted on: 31-07-12 13:55:48

Your best bet if I were you would call CRA - their toll free number and speak with one of their representative or speak to your Accountant if you have one.

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