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non-residency - opening a savings account in canada (change status?)
January 23, 2016
9:31 pm
canoejesuit
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i'm looking to move US funds into my TD Canada trust savings account (in Canada) to take advantage of the low Canadian dollar. Just wondering if I would be deemed a resident (thus taxable) if I do such a move.

January 25, 2016
4:49 pm
JustMe
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Best resource is: TD Canada Trust.
Unless you are moving zillion of dollars, with 0.55% interest rate at TD you will get peanuts.

February 2, 2016
4:26 pm
Norman1
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CRA has information about determining one's residency status at Determining your residency status and S5-F1-C1, Determining an Individual’s Residence Status.

Lots of factors are considered in a determination:

An individual's residency status is determined on a case by case basis and the individual's whole situation and all the relevant facts must be considered.

The relevant facts in determining your residency status include: the residential ties you have in Canada, the purpose and permanence of your stays abroad, and your ties abroad.

February 2, 2016
4:52 pm
AltaRed
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There is no information in the original post to even begin to speculate on an answer. Where does the OP live, what citizenship is the OP. what ties does the OP have to Canada or wherever the OP lives, etc. etc.

A bank account is pretty inconsequential and not enough in itself to make someone a tax resident of Canada.

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