Hi all-
I might have a chance to become a Permanent Resident of Canada in my retirement. As an American living in Canada and as a Canadian PR, I will be drawing from my own personal retirement plan based in the US. What are my tax obligations? Would I be required to pay both US taxes and Canadian taxes? What taxes would I pay? Before I commit this, I need to know the answers to this question.
In addition, can I be a Permanent Resident in Canda and still live on Social Security from the States without being penalized?
Thanks, guys, in advance for answers to these questions.
Rob
I might have a chance to become a Permanent Resident of Canada in my retirement. As an American living in Canada and as a Canadian PR, I will be drawing from my own personal retirement plan based in the US. What are my tax obligations? Would I be required to pay both US taxes and Canadian taxes? What taxes would I pay? Before I commit this, I need to know the answers to this question.
In addition, can I be a Permanent Resident in Canda and still live on Social Security from the States without being penalized?
Thanks, guys, in advance for answers to these questions.
Rob