As a Canadian citizen living and working in Canada since 1977 I would like to know from you the following please: Should I be concerned about my income taxes if I live outside of Canada as a retiree on vacation for a period of 6 months every year and return to Canada afterwards? Will my income tax be affected by my 6 months of living abroad? Will I lose my Canadian citizenship and O.H.I.P. benefits if I live outside Canada for about 6 months every year? Could I possibly live abroad for over 6 months every year?If, yes...will my Canada pension and O.A.S. pension, and income taxes be affected? Is there something that you feel I should know about retiring abroad for a period of 6 months every year or over? Thank you for your time!
Episode 2 answers the following questions: ruclips.net/video/mrwnl3vw7X0/видео.html -Who do I pay taxes to if I work online and receive income from clients in multiple countries? -If I have been declared non-resident in Canada for tax purposes, can that be revoked if I move to another country? How might my status change if that new country has a more favorable tax situation?
Hello. If I work in Switzerland and taxed at 20% while on that income in Canada tax is 37%. That would mean you don't have to pay 17% to Canada? Or they would give foreign tax credit of 15% and pay to Canada the rest 2%??? Or how does this work?
On the tax return, the form asks "were you in Canada at dec 31 xx", If I say no, I think CRA would consider me a non resident. Can I stay outside of Canada October to April ( 7 months) and return Canada from May to September (5 months). Can i still be a resident of Canada and can say "Yes" on the tax form?
Two questions. On topic #1, bringing back a reportable amount of money (>$10,000) it has been rumoured that would trigger reporting to FINTRAC which could then be cause for other agencies (eg: CRA?) to scrutinize your future finances more closely. Any added interaction with government has always been undesirable from my point of view. Comments? And question #2, on future videos can you please eliminate the background music so one can focus on what is being discussed? TIA
I am a permanent resident that works in a canadian company, I was visiting family in México before covid started and then i decided to stay in México working remotely, the company was ok with me staying here but I have been outside of Canada more than 12 months, will I have tax issues upon returning?
Lots of good answers there, thanks for setting that up, I'll be tuning in next week as they say!
Thanks Rodney. We are looking forward to next week as well.
As a Canadian citizen living and working in Canada since 1977 I would like to know from you the following please:
Should I be concerned about my income taxes if I live outside of Canada as a retiree on vacation for a period of 6 months every year and return to Canada afterwards?
Will my income tax be affected by my 6 months of living abroad?
Will I lose my Canadian citizenship and O.H.I.P. benefits if I live outside Canada for about 6 months every year?
Could I possibly live abroad for over 6 months every year?If, yes...will my Canada pension and O.A.S. pension, and income taxes be affected?
Is there something that you feel I should know about retiring abroad for a period of 6 months every year or over?
Thank you for your time!
Episode 2 answers the following questions: ruclips.net/video/mrwnl3vw7X0/видео.html
-Who do I pay taxes to if I work online and receive income from clients in multiple countries?
-If I have been declared non-resident in Canada for tax purposes, can that be revoked if I move to another country? How might my status change if that new country has a more favorable tax situation?
Where should we sent our questions? Thanks for this video! Very helpful!
Thanks Jennifer, ask general questions here in the comment section.
I’m curious if one day Canada will implement citizenship based taxation 🤔
Hello. If I work in Switzerland and taxed at 20% while on that income in Canada tax is 37%. That would mean you don't have to pay 17% to Canada? Or they would give foreign tax credit of 15% and pay to Canada the rest 2%??? Or how does this work?
On the tax return, the form asks "were you in Canada at dec 31 xx", If I say no, I think CRA would consider me a non resident. Can I stay outside of Canada October to April ( 7 months) and return Canada from May to September (5 months). Can i still be a resident of Canada and can say "Yes" on the tax form?
Two questions. On topic #1, bringing back a reportable amount of money (>$10,000) it has been rumoured that would trigger reporting to FINTRAC which could then be cause for other agencies (eg: CRA?) to scrutinize your future finances more closely. Any added interaction with government has always been undesirable from my point of view. Comments? And question #2, on future videos can you please eliminate the background music so one can focus on what is being discussed? TIA
I am a permanent resident that works in a canadian company, I was visiting family in México before covid started and then i decided to stay in México working remotely, the company was ok with me staying here but I have been outside of Canada more than 12 months, will I have tax issues upon returning?