Phil Hogan - CRA Notices
Tax Question

I moved to the US from Canada 3 years ago and I’ve recently received some CRA tax notices that have been causing me problems. When I left in 2012 I neglected to tell my broker that I was moving. It wasn’t until the next year that I realized (because he told me) that I should have turned my account into a non-resident account and taxes should have been withheld and sent to CRA on my dividends.

After many months of going back and forth with CRA I managed to get the tax withholdings resolved. However now I have a different problem. I’ve also paid US tax on these dividends and now I have CRA notices telling me that I also have to pay tax on the same dividends. From my calculations I’m paying about 10% US tax and 15% Canadian tax on these dividends. Should I really be paying 25% total on dividends from Canada?

I tried to get some help from my US CPA but he keeps telling me that there’s nothing I can do and to just pay the CRA bill.

Is this really my only option? They also continue to withhold the 15% tax. Am I stuck with 25% tax. If so, should I move these investments to the US?

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