You must stop contributing to your RESP when you become a non-resident. The amount withdrawn from your RESP is subject to tax. There are many other implications to becoming a non resident: Severing ties with Canada Filing departure forms Filing departure tax return
CPP is simply payable on Canadian earnings. Contributions are based upon the amount of Income earned here in Canada. If you are an employee working abroad, voluntarily based CCP contributions can be made if Canada has a Social Security agreement with the other country. The following conditions must be met: Employee is a resident of … Continue reading If I am an employee working overseas, can I contribute into CPP?
We can help you file a non-resident tax return by making an election under section 217. By filing this return you will be eligible to be refunded all or a portion of taxes withheld on your RRSP withdrawal.
You have to be a Canadian resident to receive the government grant related to RESPs. The tax-sheltered status of the RESP only applies to Canadian residents. If the subscriber or account owner is a non-resident, they might have to pay taxes on any income earned in the RESP account as well as capital gains, according … Continue reading What Happens To Your Child’s RESP When You Leave Canada?