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Brokerage Account

ratul2k14

Full Member
Aug 21, 2014
23
2
Ottawa
Visa Office......
CPC-Ottawa
NOC Code......
2133
App. Filed.......
21-08-2014
Med's Done....
11-02-15
Interview........
N/A
Passport Req..
14-05-15
VISA ISSUED...
05-06-15
LANDED..........
08-10-2015
Hello,
I recently moved from the United States to Canada. I was on H1B visa in the USA and in Canada I am a PR. I was wondering what to do with my Brokerage account in the USA (I have Scottrade)? Can I keep it? How will the Taxes work then? I would like to hear from people who have moved from the states to Canada and what they did with their trading account?
Thanks
Ratul
 

scylla

VIP Member
Jun 8, 2010
92,893
20,518
Toronto
Category........
Visa Office......
Buffalo
Job Offer........
Pre-Assessed..
App. Filed.......
28-05-2010
AOR Received.
19-08-2010
File Transfer...
28-06-2010
Passport Req..
01-10-2010
VISA ISSUED...
05-10-2010
LANDED..........
05-10-2010
My husband kept his US trading account. You'll of course have to declare any earnings in that account in your Canadian income tax returns. As an American, you are obligated to file taxes even if you aren't living in the US. So you'll be filing both US and Canadian taxes (however this has nothing to do with the fact you have a brokerage account, this is US income tax law).
 

ratul2k14

Full Member
Aug 21, 2014
23
2
Ottawa
Visa Office......
CPC-Ottawa
NOC Code......
2133
App. Filed.......
21-08-2014
Med's Done....
11-02-15
Interview........
N/A
Passport Req..
14-05-15
VISA ISSUED...
05-06-15
LANDED..........
08-10-2015
I am not an American I was working in the USA on a Work Visa.
 

scylla

VIP Member
Jun 8, 2010
92,893
20,518
Toronto
Category........
Visa Office......
Buffalo
Job Offer........
Pre-Assessed..
App. Filed.......
28-05-2010
AOR Received.
19-08-2010
File Transfer...
28-06-2010
Passport Req..
01-10-2010
VISA ISSUED...
05-10-2010
LANDED..........
05-10-2010
Ah - sorry. Missed that.

In that case I'm not certain...