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Hello,
I left Canada in May 2017, and started working in the USA with TN status. I paid tax as a Canadian resident in 2017 and 2018 since I didn't realize that I had the option to file out the Determination of Residency Status form (Form NR73) with the CRA. My friend told me I should be able to file the tax return as Non Resident of Canada recently, so that I send the form NR73 to CRA, and they responded to me with a formal answer that I was considered as a Non Resident of Canada. So here are my questions:
1. Should I re-file the tax return for 2017 and 2018 as Non Resident of Canada ? If NOT, any disadvantages ?
2. I got T5 from the Bank since I didn't update the information on one of my accounts and was issued interest income on a T5. Should I file this interest income form 2019 as Non Resident of Canada ?
3. Should I file tax return of 2019 as Non Resident of Canada at all if that interest income T5 is the only income resource I got in Canada ?
Thank you in advance,
Tao
File a T1 adjustment for 2017 and 2018 to get a tax refund for Canadian income taxes paid on your US income. Do not file a tax return with the CRA to report interest income from Canadian sources. Going forward, let your bank know that you are a NR of Canada and a tax resident of the US, so that they issue an NR4 slip for the interest paid to you.