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Title: Cardinal Point Wealth Management Raises Awareness for Cross-Border Retirees Regarding 2025 Changes to Benefits Demanding Urgent Vigilance

United States, 6th Jun 2025 —Cardinal Point Wealth Management, a leading cross‑border financial advisory firm, today released a timely and important educational overview to help Americans living in Canada and Canadians living in the US understand how new 2025 rules impact taxation and coordination of US Social Security, Canada Pension Plan (CPP), and Old Age Security (OAS) benefits. Drawing on four decades of bilateral agreements and recent legislative changes, Cardinal Point underscores practical steps retirees and near‑retirees can take to avoid double taxation and maximize lifetime income.Since 1984, the Canada‑US Totalization Agreement has allowed workers who divide their careers between the two countries to “totalize” contribution periods, making it easier to qualify for benefits on both sides of the border. While the legal framework is familiar, 2025 brings several new considerations. These include higher‑than‑average US Social Security cost‑of‑living adjustments, the recent elimination of the Windfall Elimination Provision and Government Pension Offset for beneficiaries who also receive CPP, and enhanced electronic information‑sharing between the Canada Revenue Agency (CRA) and the Internal Revenue Service (IRS).Key Findings for 2025 RetireesExclusive Taxation Rights Remain Intact: Under Article XVIII(5) of the Canada–US Income Tax Treaty, US Social Security is taxable only in Canada when the recipient resides north of the border, while CPP and OAS are taxable only in the United States when the recipient resides south of the border. In both cases, up to 85 percent of the benefit is included in taxable income in the taxing country.Eligibility Gaps Can Still Be Closed: The 40‑quarter US requirement and CPP residency rules continue to be bridged by totalization. A U...

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