溫哥華老友記討論區 - Powered by Discuz! Board

標題: I want to back out my RRSP... [打印本頁]

作者: eggo 時間: 2008-4-17 10:41 標題: I want to back out my RRSP...

I made a stupid move...

Just filed my tax return for 2007...then met with my banker yesterday, somehow she pursuaded me to put $10,000 in my RRSP to be used for my 2008 tax year. But I will be going back to HK for good the end of this month, and I told her that too...anyways, walked out of the bank, slept through the night, this morning all of a sudden remember if I left, I'll be part year resident for 2008 and I dont need that $10000 RRSP to lower my 2008 taxable income?! Doh.....so stupid...why my banker didn't tell me...or she didn't know? didn't click? Or she just wanted to do more RRSp business? aii.....why didn't I be more smart? ....

Called her today, asked if I can back that RRSP out, she said she can't?! She asked me to contact CCRA, but I called the whole morning, no one answered my call!!!

I want my $10,000 back

作者: shutterbug 時間: 2008-4-17 11:07

Can't you just withdraw the money from the RRSP account? They might charge you penalty or a fee though.

Some bankers are "irresponsible", you need to be clear of what you're doing.

作者: myversa 時間: 2008-4-17 12:27

If you withdraw from RRSP, you need to pay tax on that too.

作者: shutterbug 時間: 2008-4-17 15:02

原帖由 myversa 於 2008-4-17 12:27 發表
If you withdraw from RRSP, you need to pay tax on that too.

Probably not because if you don't have any income for the year, you get the basic 9600 tax credit. Also, if you bought 10k this year, you should get tax credits from that, and if you withdraw 10k, you need to pay tax but you should break even.

[ 本帖最後由 shutterbug 於 2008-4-17 15:05 編輯 ]

作者: eggo 時間: 2008-4-17 15:21

Just called CCRA, the agent said if I became Non-resident in 2008, I won't be able to get that full $9600 tax credit anyways...so in essence the whole amount will be taxed at 25%...

He said since I am still a resident, I can elect to file a form to take that $$ out tax-free. But the form has to be sent to CCRA for approval, and then send to my bank to withdraw, takes very long time, very ma fan!!

Lesson I learned....really need to take care of my stuff, need to know what I'm doing....ai....what was I doing...arghghgh

作者: startomato 時間: 2008-4-17 16:56

Are you sure you will be non resident? It is much more complicated than just work else where other than Canada

作者: eggo 時間: 2008-4-18 08:43

原帖由 startomato 於 2008-4-17 16:56 發表
Are you sure you will be non resident? It is much more complicated than just work else where other than Canada

Hmm...yes ah...I will close all my bank accounts and just leave, probably won't come back anymore bor...no house here, no families here, no car here...no nothing... O_O

作者: daimo 時間: 2008-4-18 08:56

I stopped listening to so call experts/pros for a long time after some extremely stupid advices (though not as bad as yours). There are too many ppl in the streets making a living off us, and they represent their organization's interest more than yours.

We need to start doing our own homework.

I imagine that your banker must be a very cute "she".

作者: siumaibb 時間: 2008-4-18 10:32

原帖由 daimo 於 2008-4-18 08:56 發表
I imagine that your banker must be a very cute "she".

That is the best selling point....

歡迎光臨溫哥華老友記討論區 (http://www.loyaukee.com/forum/)