@canadianexpats: Retiring outside of Canada and looking to reduce the withholding tax on your Canadian pensions and RRSPs? 🌍 The NR5 form can be a fantastic tool, but it requires careful proactive planning! When you live in a tax treaty country like France or Spain, an approved NR5 form can reduce your withholding tax to 15% or less. However, it also legally requires you to file a Section 217 non-resident tax return the following year, where your income is taxed at graduated tax rates! If your retirement income is higher, these graduated rates might actually cost you more than the default flat tax. A great planning strategy is to voluntarily file a Section 217 return the following year to see if you get a refund before locking yourself into an NR5! Every single financial situation is completely unique, but I’d love to know—where are you planning to enjoy your retirement? Let's discuss in the comments! 👇 Disclaimer: This content is intended as general information only and is not to be relied upon as constituting legal, financial, or other professional advice. Every case is different, and your specific situation must be evaluated and handled on its own merits. A professional advisor should be consulted regarding your specific situation. The information presented is believed to be factual and up-to-date, but its accuracy is not guaranteed and it should not be regarded as a complete analysis of the subjects discussed. #CanadianExpats #RetiringAbroad #CanadianTaxes

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Monday 25 May 2026 11:00:00 GMT