From: ryeung@earthlink.net (Raymond Yeung)
Newsgroups: misc.invest.financial-plan
Subject: Questions on Canadians buying 529 Plan
Date: 19 Jul 2003 10:55:01 GMT
iQBVAwUAPxkiY/l/I4+O31e5AQHT8QH/Z0prDZ/2ob+zVFJK89d9kLoFbE1kYNdQ
T234epvbDtKp5vR0xuaXrBkwgBmLe80LIX8ObWMjcEBn6yAsxo2WVw==
=xkEF
tests=BAYES_00
version=2.53
I've a U.S. tax and 529 Plan related scenario below. Does
anyone have any idea or know where I can find more accurate
information?
My wife and I are both Canadians currently working in U.S.
Our kid however is a U.S. citizen. If we participate in
529 Plan, what happens to the money if one day we decide
to move back to Canada under the current tax law? Would we
be treated as if we were still in U.S.? What if our kid goes
to a Canadian College, can we still qualify for tax free withdrawal?
And also would we be double-taxed by Revenue Canada?
|