Go Back   English Forum Switzerland > Help & tips > Other/general
Reply
 
Thread Tools Display Modes
  #1  
Old 15.01.2013, 16:05
Mandy_Moe's Avatar
Junior Member
 
Join Date: Nov 2012
Location: Toronto, Canada
Posts: 98
Groaned at 1 Time in 1 Post
Thanked 68 Times in 31 Posts
Mandy_Moe has made some interesting contributions
Canadians - Procedure for Leaving Canada?

Hi all!

I'm sorry if there is already a similar thread hidden in the forums...

I was wondering if any Canadians living in Switzerland had some advice for me. I'm a dual citizen (Swiss/Canadian), so I'm not too worried about what happens in Switzerland, but I was wondering what steps you took in relation to the CRA, your banks, etc.

Who did you inform about your departure? Did you close all of your accounts? Any information you have would be great.

Thanks,
Reply With Quote
  #2  
Old 15.01.2013, 16:21
Verbier's Avatar
Forum Legend
 
Join Date: Jul 2008
Location: Lully VD
Posts: 2,645
Groaned at 7 Times in 7 Posts
Thanked 2,125 Times in 1,162 Posts
Verbier has a reputation beyond reputeVerbier has a reputation beyond reputeVerbier has a reputation beyond reputeVerbier has a reputation beyond reputeVerbier has a reputation beyond repute
Re: Canadians - Procedure for Leaving Canada?

You should start with this link:

http://www.cra-arc.gc.ca/tx/nnrsdnts.../lvng-eng.html

One of the keys is to cut ALL links (financial, credit cards, club memberships etc.) or you could be deemed to still be a Canadian resident for tax purposes. Work from the list they give you.

If possible, use a c/o address of a relative/friend so you can get any last tax or other documents.

When you arrive in CH, you will need to "check in" at the local population office. Keep this document which can prove you have moved to CH.
__________________
Today I am going to give it my some !
Reply With Quote
This user would like to thank Verbier for this useful post:
  #3  
Old 15.01.2013, 16:27
Mandy_Moe's Avatar
Junior Member
 
Join Date: Nov 2012
Location: Toronto, Canada
Posts: 98
Groaned at 1 Time in 1 Post
Thanked 68 Times in 31 Posts
Mandy_Moe has made some interesting contributions
Re: Canadians - Procedure for Leaving Canada?

[QUOTE=Verbier;1768877]

One of the keys is to cut ALL links (financial, credit cards, club memberships etc.) or you could be deemed to still be a Canadian resident for tax purposes. Work from the list they give you.
QUOTE]

Thanks Verbier.

My mother retained a bank account here in Canada when she moved to Switzerland. So I was planning on doing the same thing.

Also - Switzerland and Canada has some sort of tax agreement. As long as my income is reported in one of the 2 places - no? I thought the only reason I would have to inform the CRA was due to HST/GST rebates, etc.
Reply With Quote
  #4  
Old 15.01.2013, 16:30
jrspet's Avatar
Forum Legend
 
Join Date: Jul 2007
Location: Quaint Wädenswil, Zürich, CH
Posts: 9,421
Groaned at 31 Times in 24 Posts
Thanked 7,037 Times in 3,912 Posts
jrspet has a reputation beyond reputejrspet has a reputation beyond reputejrspet has a reputation beyond reputejrspet has a reputation beyond reputejrspet has a reputation beyond reputejrspet has a reputation beyond repute
Re: Canadians - Procedure for Leaving Canada?

http://www.fin.gc.ca/treaties-conven...tatus_-eng.asp

http://www.fin.gc.ca/treaties-conven...uisse2-eng.asp

http://www.sif.admin.ch/themen/00502...x.html?lang=en
Reply With Quote
  #5  
Old 15.01.2013, 16:36
Verbier's Avatar
Forum Legend
 
Join Date: Jul 2008
Location: Lully VD
Posts: 2,645
Groaned at 7 Times in 7 Posts
Thanked 2,125 Times in 1,162 Posts
Verbier has a reputation beyond reputeVerbier has a reputation beyond reputeVerbier has a reputation beyond reputeVerbier has a reputation beyond reputeVerbier has a reputation beyond repute
Re: Canadians - Procedure for Leaving Canada?

Revenue Canada has a list of things that "tie" you to Canada. The more things you have (such as a bank account), the more they can claim you are still a Canadian resident and force you to file income tax. Will they find out? Maybe, maybe not.

As I mentioned, if you want to avoid issues, you sever all ties (including driver's license etc.). Work from the list they have on the website. And Goggle a bit. The more ties you keep, the more chance they will/can claim you as a Canadian resident.
Reply With Quote
  #6  
Old 15.01.2013, 16:40
Mandy_Moe's Avatar
Junior Member
 
Join Date: Nov 2012
Location: Toronto, Canada
Posts: 98
Groaned at 1 Time in 1 Post
Thanked 68 Times in 31 Posts
Mandy_Moe has made some interesting contributions
Re: Canadians - Procedure for Leaving Canada?

Ok - so Switzerland has to rat me out if Canada comes looking for me. Oh well.

As for accounts - they can't force me to close me RRSP or my TSFA (quote: If you emigrate from Canada and hold a tax-free savings account (TFSA), you can keep your TFSA and continue to benefit from the exemption from Canadian tax on investment income and withdrawals.).

So accounts could affect your residency status, but I'm guessing that's in extreme cases.
Reply With Quote
  #7  
Old 15.01.2013, 16:48
Assassin's Avatar
Forum Legend
 
Join Date: Mar 2010
Location: Chasing clouds
Posts: 3,540
Groaned at 131 Times in 97 Posts
Thanked 9,067 Times in 2,559 Posts
Assassin has a reputation beyond reputeAssassin has a reputation beyond reputeAssassin has a reputation beyond reputeAssassin has a reputation beyond reputeAssassin has a reputation beyond reputeAssassin has a reputation beyond repute
Re: Canadians - Procedure for Leaving Canada?

Don't forget to wear your "Argos - World Champions 100th Grey Cup" sweatshirt when leaving YYZ
Reply With Quote
This user would like to thank Assassin for this useful post:
  #8  
Old 15.01.2013, 16:56
JanerMacP's Avatar
Forum Veteran
 
Join Date: Feb 2007
Location: Turgi, AG
Posts: 977
Groaned at 3 Times in 3 Posts
Thanked 619 Times in 333 Posts
JanerMacP has an excellent reputationJanerMacP has an excellent reputationJanerMacP has an excellent reputationJanerMacP has an excellent reputation
You can keep a bank account if you declare why you need it, I keep mine to pay my student loans.

Technically you're supposed to cash in your RRSPs if you leave and pay a departure tax, if you don't you will need to declare them to the Canadian tax authorities when you ask to be exempt from taxes, and they might consider keeping them too strong a link to Canada and tell you that you still need to file there. When you get here trade in your drivers license, cancel your Canadian Medicare and health insurance, and get any memberships you can here to prove you have more ties here than there (gym, library, groups you can join, etc). Each case is reviewed individually so it depends in the person you get on your case. Mine was approved immediately, but we had to supply additional information for my husband 4 times because they kept coming back with more questions and wanting to see proof.

Oh, and you can't cash (or technically receive) any GST or HST rebates.

Good luck!
__________________
"What we have is no where as useful as the wheel. We keep reinventing the piece of rock that is still square"
Reply With Quote
  #9  
Old 15.01.2013, 16:58
Nil's Avatar
Nil Nil is offline
Forum Legend
 
Join Date: Sep 2007
Location: At the Beach
Posts: 9,732
Groaned at 384 Times in 303 Posts
Thanked 13,202 Times in 5,292 Posts
Nil has a reputation beyond reputeNil has a reputation beyond reputeNil has a reputation beyond reputeNil has a reputation beyond reputeNil has a reputation beyond reputeNil has a reputation beyond repute
Re: Canadians - Procedure for Leaving Canada?

I left 9 years ago. Important stuff goes to my mom's address and I still have a bank account which is fill with an amount of few hundreds just to keep paying my Vonage and my iTunes apps. I have nothing else in Canada, not even my health insurance card. But I do still have my driving license which I just gave back to stop paying to ridiculous amount each year.
Reply With Quote
  #10  
Old 15.01.2013, 17:52
JPZ JPZ is offline
Member
 
Join Date: Mar 2009
Location: Basel
Posts: 199
Groaned at 2 Times in 2 Posts
Thanked 129 Times in 69 Posts
JPZ is considered knowledgeableJPZ is considered knowledgeableJPZ is considered knowledgeable
Re: Canadians - Procedure for Leaving Canada?

We have been here for over 4 years now. We also have a bank account, credit cards and RRSPs back in Canada that we use when we are there to avoid any extra charges when visiting and have had no issues. We also have a broker in Toronto that we still use a bit for stock trades and we just had to fill out a form confirming that we don't live in Canada to avoid the capital gains tax in Canada. As long as you fill out the correct forms, maybe linked to in the previous post, and put down the date of departure on your final tax return, you should be ok. We did also call Revenue Canada to ensure we were doing it correctly, and received very good service from them regarding this. I have to say that the process was actually very painless.
Reply With Quote
  #11  
Old 15.01.2013, 19:01
Mandy_Moe's Avatar
Junior Member
 
Join Date: Nov 2012
Location: Toronto, Canada
Posts: 98
Groaned at 1 Time in 1 Post
Thanked 68 Times in 31 Posts
Mandy_Moe has made some interesting contributions
Re: Canadians - Procedure for Leaving Canada?

Last time we (my mom and I) moved to Switzerland we just up and left (approx. 1993). We didn't cancel anything. So when I moved back in 2002 everything was still up and running. I had a bit of trouble trying to open a bank account, because I didn't really have anything documenting that I lived in Canada, but eventually they loosened up.

I'm kinda thinking of doing the same thing this time... I don't know how long I am going to be staying in CH. I would let the CH embassy know here, but other than that...
Reply With Quote
  #12  
Old 18.01.2013, 07:17
caninsui's Avatar
Senior Member
 
Join Date: Sep 2010
Location: Vancouver, Canada
Posts: 357
Groaned at 6 Times in 5 Posts
Thanked 259 Times in 106 Posts
caninsui has earned the respect of manycaninsui has earned the respect of manycaninsui has earned the respect of many
Re: Canadians - Procedure for Leaving Canada?

Quote:
View Post
Ok - so Switzerland has to rat me out if Canada comes looking for me. Oh well.

As for accounts - they can't force me to close me RRSP or my TSFA (quote: If you emigrate from Canada and hold a tax-free savings account (TFSA), you can keep your TFSA and continue to benefit from the exemption from Canadian tax on investment income and withdrawals.).

So accounts could affect your residency status, but I'm guessing that's in extreme cases.
Most has already been covered but it is not correct in that the Swiss have to rat you out. If you do not file a tax return, you are ratting yourself out. The only way not to file a tax return and not have issues is to let them know what you are doing - ie moving to Switzerland and want to keep your RRSPs and bank account.

When we moved two years ago, they told us that we needed to cash out our RRSPs and close all accounts, not even have a storage locker under our name, otherwise we were still classified as residents of Canada and must pay taxes on what was earned in Switzerland (ie they are trying to taking a page out of the US system). It was easier to just cancel everything and file a non-resident form with CCRA and when we go home, it is easy enough to get things back.

It's up to you but it is a risk as they are much more able to track inconsistencies with everything being tracked on computer and little red flags appear much quicker now than even 5 years ago. Just wasn't worth the chance of getting a big bill or having issues when we do go back for us.

Good luck!
Reply With Quote
  #13  
Old 18.01.2013, 19:07
Mandy_Moe's Avatar
Junior Member
 
Join Date: Nov 2012
Location: Toronto, Canada
Posts: 98
Groaned at 1 Time in 1 Post
Thanked 68 Times in 31 Posts
Mandy_Moe has made some interesting contributions
Re: Canadians - Procedure for Leaving Canada?

I found a document while searching for answers re RRSP/Emigration. It makes a lot of sense to me.

http://www.expert-fiscaliste.net/upl...emigration.pdf

I also found this site that explains TFSA's and non-residents.

http://www.ctf.ca/ctfweb/en/newslett.../2/120506.aspx

Taking all this in to consideration, I see no reason why I should close my accounts. I mean - why would they make Canadian citizens cash in their registered investment accounts? I could only be leaving for a few years.

Last edited by Mandy_Moe; 18.01.2013 at 19:21. Reason: Found further info
Reply With Quote
  #14  
Old 19.01.2013, 00:48
JustBean's Avatar
Junior Member
 
Join Date: Mar 2012
Location: Canada
Posts: 43
Groaned at 0 Times in 0 Posts
Thanked 8 Times in 8 Posts
JustBean has no particular reputation at present
Re: Canadians - Procedure for Leaving Canada?

MandyMoe,

Just in case you didn't know already....the Toronto Swiss consulate is closing this Summer (I think the only office will be the Montreal one from now on)...so if you need to see them about anything in person for your move, head there soon

ps..We have a similar background! (moved to Canada from Switzerland when I was young....heading back to live there in my early 30's now )

Good Luck with everything!
Reply With Quote
  #15  
Old 19.01.2013, 17:53
Mrs. Doolittle's Avatar
Forum Legend
 
Join Date: May 2007
Location: Kt. AG
Posts: 5,347
Groaned at 117 Times in 82 Posts
Thanked 4,543 Times in 2,170 Posts
Mrs. Doolittle has a reputation beyond reputeMrs. Doolittle has a reputation beyond reputeMrs. Doolittle has a reputation beyond reputeMrs. Doolittle has a reputation beyond reputeMrs. Doolittle has a reputation beyond reputeMrs. Doolittle has a reputation beyond repute
Re: Canadians - Procedure for Leaving Canada?

Quote:
View Post
I could only be leaving for a few years.
Then this is a different situation if you plan to return.

Other questions you should be asking yourself.
Will you have an income in Switzerland?
Do you own property in Switzerland?
Reply With Quote
  #16  
Old 19.01.2013, 18:00
JanerMacP's Avatar
Forum Veteran
 
Join Date: Feb 2007
Location: Turgi, AG
Posts: 977
Groaned at 3 Times in 3 Posts
Thanked 619 Times in 333 Posts
JanerMacP has an excellent reputationJanerMacP has an excellent reputationJanerMacP has an excellent reputationJanerMacP has an excellent reputation
Even if you plan to be away only a few years, and you have any sort of income, you should still do the leg work because if you don't file on Canada when you're away they will wonder why you have a gap in your filings and could audit you.
Reply With Quote
  #17  
Old 20.01.2013, 13:58
Puhutes's Avatar
Forum Veteran
 
Join Date: Nov 2009
Location: val Müstair
Posts: 1,058
Groaned at 22 Times in 11 Posts
Thanked 605 Times in 317 Posts
Puhutes has an excellent reputationPuhutes has an excellent reputationPuhutes has an excellent reputationPuhutes has an excellent reputation
Re: Canadians - Procedure for Leaving Canada?

Quote:
View Post
MandyMoe,

Just in case you didn't know already....the Toronto Swiss consulate is closing this Summer (I think the only office will be the Montreal one from now on)...
Hmm are you sure? According to my dad, the one in Ottawa is still there.
Reply With Quote
  #18  
Old 20.01.2013, 15:55
JustBean's Avatar
Junior Member
 
Join Date: Mar 2012
Location: Canada
Posts: 43
Groaned at 0 Times in 0 Posts
Thanked 8 Times in 8 Posts
JustBean has no particular reputation at present
Re: Canadians - Procedure for Leaving Canada?

Quote:
View Post
Hmm are you sure? According to my dad, the one in Ottawa is still there.
Sorry, not sure about the other ones, I do know for certain the Toronto one is closing (it was in the Swiss newsletter we get).
Reply With Quote
  #19  
Old 20.01.2013, 18:36
Verbier's Avatar
Forum Legend
 
Join Date: Jul 2008
Location: Lully VD
Posts: 2,645
Groaned at 7 Times in 7 Posts
Thanked 2,125 Times in 1,162 Posts
Verbier has a reputation beyond reputeVerbier has a reputation beyond reputeVerbier has a reputation beyond reputeVerbier has a reputation beyond reputeVerbier has a reputation beyond repute
Re: Canadians - Procedure for Leaving Canada?

Quote:
View Post
Hmm are you sure? According to my dad, the one in Ottawa is still there.

OTTAWA is the Swiss EMBASSY!

Toronto and Montreal are/were Consulates.

The Embassy in Ottawa will not close.
Reply With Quote
This user would like to thank Verbier for this useful post:
  #20  
Old 20.01.2013, 23:51
Mandy_Moe's Avatar
Junior Member
 
Join Date: Nov 2012
Location: Toronto, Canada
Posts: 98
Groaned at 1 Time in 1 Post
Thanked 68 Times in 31 Posts
Mandy_Moe has made some interesting contributions
Re: Canadians - Procedure for Leaving Canada?

Quote:
View Post
Then this is a different situation if you plan to return.

Other questions you should be asking yourself.
Will you have an income in Switzerland?
Do you own property in Switzerland?
I'm a dual citizen and have my family and the family business in CH. I'm not too worried about what to do once I move. I just want to make sure that I am set up in Canada in case I do decide to move back down the road.

As of now, I will probably move in June and become a non-resident sometime following that, but I will leave my RRSP's and TFSA as is.
Reply With Quote
Reply




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Two Canadians for St Gallen Eurobolter Introductions 8 16.02.2012 20:50
Canada dissolves same-sex marriages of non-canadians TheWolverine International affairs/politics 24 14.01.2012 13:58
Leaving CH for Canada - advise us please monikais General off-topic 6 06.06.2011 14:05
Looking for Canadians... Phil's grandson Social events 22 24.09.2010 23:11


All times are GMT +1. The time now is 14:19.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0