Contact UsAre my Social Security benefit taxable in Canada?
I currently am a resident of Canada.
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Tax Professional Answers
Serge Gautron
Very good question.
"The Convention Between Canada and the United States of America With Respect to Taxes on Income and on Capital" specifically addresses this issue. Under Article XVIII section 5 (b) of this treaty allows that Social Security benefits paid to a resident of Canada shall be taxable only in Canada.
And then only 85% of benefits are taxable; you benefit from a 15% exemption form tax in Canada on your Social Security benefits.
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490 weeks ago
"The Convention Between Canada and the United States of America With Respect to Taxes on Income and on Capital" specifically addresses this issue. Under Article XVIII section 5 (b) of this treaty allows that Social Security benefits paid to a resident of Canada shall be taxable only in Canada.
And then only 85% of benefits are taxable; you benefit from a 15% exemption form tax in Canada on your Social Security benefits.