any Canadian expat saved $$ by filing Can. taxes under Section 217

[gamb00ler]

I need to soon close out my Can. RRSP and like everyone I hate paying taxes that I can avoid through optimal tax filing.

 

It seems if I file using Section 217 the Canada Revenue Agency will evaluate both my regular tax filing and my Section 217 filing.  Then they will use the filing method that costs me the least in taxes.   Seems too good to be true.

 

Anyone done their taxes under Section 217 and saved money?

[jaideedave]

 

It depends if you are a non resident status or not.I'm a declared non resident retired in Thailand.

I'm only familiar with form NR5. I filed under that and was granted a tax reduction for a period of 5 years.Otherwise all Canadian income is subject to the 25% withholding tax.

Non resident is the key. I left Canada in 2004.

 

[gamb00ler]

@jaideedave  I don't know how but I missed your answer until I saw another poster mention Section 217 in an unrelated thread.

 

I haven't filed any Canadian tax form since '88 after moving to USA in '87.  I have had no Canadian income since then until I started receiving CPP and a reduced OAS several years ago.  I just have to claim my CPP+OAS on US taxes where it's treated the same as US Social Security benefits.

 

I haven't specifically told CRA that I'm not resident but it should be apparent as I use US address and bank for pension benefits, plus no Canadian sourced income.