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Taxes - Non-resident but I have a bank account in Canada

Shani@GTA

Newbie
Oct 16, 2020
2
0
Hello –

I'm a non-resident for 2019, been in Canada for 10 days after soft-landing. However, I opened a bank account, have a credit card and opened a TFSA with TD.

The canada.ca website under residential ties lists "economic ties in Canada, such as Canadian bank accounts or credit cards" under "Secondary residential ties"

Does this mean I'm considered a resident?
Yes, you are resident for tax purposes if are in Canada for more than 183 days. Although if you entered Canada, opened the bank & TFSA accounts, and left before living for 183 days you will be non-resident for tax purposes. If this is your scenario, keep in mind non-resident can't contribute to TFSA account and there will 1% penalty on such contributions.
I'm an expert in Canadian & US taxation working with a well know Canadian CPA firm. If you need any tax advice, please contact me at m.usman.acca13@gmail.com