I want to back out my RRSP... back, RRSP, want

eggo

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

eggo

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

eggo

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