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Canadian Non-residency


Darryl

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On 1/2/2021 at 5:07 PM, sue said:

Only if you are prepared to cheat Every province has a limited number of days you can live outside your Canadian home and still use the Canadian health care system and if the bill is big enough they have been known to check.

It is not cheating

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On 1/3/2021 at 8:32 AM, virgo lady said:

Rather than argue and complain about the info people post as they  try to help you, stop wasting other people's time and the space on this board with your near-trolling behaviour since you apparently have this all figured out.

nonense

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10 hours ago, 2Expats said:

Can anyone recommend a good account lakeside that can handle our Canadian tax returns? Also, to give us recommendations on tax status. For 2021 we are ok to file as residents of Canada but 2022 is going to pose many more questions.

I can't recommend anyone because, as an official non resident of Canada, I don't actually have to file a tax return. 

1) You make application to become a non-resident and based on your "ties" to Canada, the government will either grant it or not.

2) You arrange with Old Age Security and CPP to have the 15% flat tax taken off income at source before it is deposited into your Canadian Bank Account.

3) If you have a portfolio, then you do the same with them.

4) You will receive tax receipts every year from those institutions and that's it.

Yes, you can continue to file but, usually, the cost of doing so is about equal to anything you may get back. Not worth it for me and far less aggravation.

Edited to add: Ooops forgot a biggee... IF you have a portfolio then you must do a "deemed disposition" of all those assets and pay any Capital Gains owing on them on the tax return immediately following becoming an official non-resident for tax purposes. 

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11 hours ago, 2Expats said:

Can anyone recommend a good account lakeside that can handle our Canadian tax returns? Also, to give us recommendations on tax status. For 2021 we are ok to file as residents of Canada but 2022 is going to pose many more questions.

Sent you a PM. What you don't know can hurt you. CRA forms can cause serious problems if not filled out properly to favour your situation.

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3 minutes ago, Ferret said:

I can't recommend anyone because, as an official non resident of Canada, I don't actually have to file a tax return. 

1) You make application to become a non-resident and based on your "ties" to Canada, the government will either grant it or not.

2) You arrange with Old Age Security and CPP to have the 15% flat tax taken off income at source before it is deposited into your Canadian Bank Account.

3) If you have a portfolio, then you do the same with them.

4) You will receive tax receipts every year from those institutions and that's it.

Yes, you can continue to file but, usually, the cost of doing so is about equal to anything you may get back. Not worth it for me and far less aggravation.

It is worth it. We file as non resident and use all medical receipts to use against the 15% and get a refund on them not the full amount but it can be substantial depending on what we have spent. We started using an accountant and she filed for back years that we screwed up on when doing our own and got us back huge. Her charge ain't big and worth every looney.

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7 minutes ago, Ferret said:

Thanks for your input happy. Every situation is different and there are pros and cons. Wasn't worth it to us.

This is what we are trying to determine. As we will likely be here pretty much full time would it even be possible to stay as Residents for tax purposes. Also, what are the long and short term pros and cons to each option.

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Tio Corp in Mirasol does Canadian tax returns. There are others. I suggest, with the importance of this decision, that you go and chat with them and others that I know exist but don't have the details. Happy, could you post the person with whom you deal here? Or are you using a Canadian tax specialist in Canada? To wind up my mum's tax, I used a tax accountant in Ottawa by the name of Paul Spare.

Paul Spare CPA | Senior Manager at McCay Duff LLP in Ottawa

 

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12 hours ago, happyjillin said:

It is worth it. We file as non resident and use all medical receipts to use against the 15% and get a refund on them not the full amount but it can be substantial depending on what we have spent. We started using an accountant and she filed for back years that we screwed up on when doing our own and got us back huge. Her charge ain't big and worth every looney.

Damn, they're selling their house here and won't be back. Now we gotta find somebody else.

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6 hours ago, 2Expats said:

This is what we are trying to determine. As we will likely be here pretty much full time would it even be possible to stay as Residents for tax purposes.

Depending on your assets / ties to Canada you may not HAVE the option of electing to be non-resident. Gov't has a comprehensive website. Use it to determine those requirements. Then ask your questions.

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