bringing money to Canada
Jump to Page:
< Previous [ 1 ] [ 2 ] [ 3 ] [ 4 ] [ 5 ] [ 6 ] [ 7 ] [ 8 ] Next >
Posted on: 29-10-08 22:11:09
Can you elaborate on 'officially gave up my Canadian residence'?
I am asking this because one can lose health benefits by physical (non) presence, but still maintain (tax) residence.
And IMO, if your tax advisor told you that you do not have to file Canadian tax return only because you did not have any Canadian income is not right if you were still a tax resident.
-----------------------------------------------------------------
Chandresh
Advice is free – lessons I charge for!!
What I meant officially moved is when I moved to US, I gave my US address to revenue Canada as a change of address notification. That way they have a record that I am no longer a Canadian Resedent.
Quote:
Originally posted by gktaurus
What I meant officially moved is when I moved to US, I gave my US address to revenue Canada as a change of address notification. That way they have a record that I am no longer a Canadian Resedent.
I suspected something of this kind and that is why I asked you to elaborate on the phrase "officially gave up Canadian residence"
Well what you did was good - but not enough to give up residence. You need to specifically tell them that you want to give up your Canadian residence. For doing so, you have to give up a lot of other things - including and not limited to closing your bank accounts in Canada, giving up your health card, picking up and packing your last underwear to take with you..........etc. etc. etc.
So technically, you did not give up your Canadian residence.
And as the rule goes (an I am only speaking about rules - not signifying anything else), you are liable to pay taxes on your income during the time you were away from Canada.
Sad but true!
-----------------------------------------------------------------
Chandresh
Advice is free – lessons I charge for!!
GKTAURUS---It is true that you did not give up your PR. You informed revenue canada abt your change of address but retained PR status.Technically u need to pay taxes on your world income. But u can always find a way out.
Chandresh---is there any performa or form to be filled while surrendering permanent resident status ? There are many many cases on this forum wherein people who cud not maintain their residency period(2 out of 5 years) were denied visitor visa because as per the embassy records ,they were still permanent residents whereas in reality they cud not maintain 2 out of 5 years and sometimes PR card also expired and they failed to surrender PR status because they were not aware abt the procedure. what is the official procedure to surrender permanent resident status ? I talked to CIC call centre and they are not aware about any such procedure to surrender PR status but advised me to enquire from the embassy where I stay (Delhi CHC) ?
Quote:
Originally posted by lucky284
Chandresh---is there any performa or form to be filled while surrendering permanent resident status ? There are many many cases on this forum wherein people who cud not maintain their residency period(2 out of 5 years) were denied visitor visa because as per the embassy records ,they were still permanent residents whereas in reality they cud not maintain 2 out of 5 years and sometimes PR card also expired and they failed to surrender PR status because they were not aware abt the procedure. what is the official procedure to surrender permanent resident status ? I talked to CIC call centre and they are not aware about any such procedure to surrender PR status but advised me to enquire from the embassy where I stay (Delhi CHC) ?
Lucky,
One mistake that people often make (and more so in Canada) - is considering PR or physical residence as tax residence.
PR card and permanent residence is an immigration matter, while tax residence is a CRA matter. You can be a PR and still be a non-resident for tax purposes.
Or you can be physically away the whole year but still be a tax resident.
-----------------------------------------------------------------
Chandresh
Advice is free – lessons I charge for!!
well you may not be correct. Bank a/c has nothing to do with residence status. I don't have to close my bank a/c if I am not residing in that country. One can literally open accounts anywhere without being the resident of that place.
As for Canadian health benefits, it can cause trouble if one is not in the stated address and still use benefits. So I informed OHIP about my change of address also.
So in my openion, there is no such thing as giving up permanent residency. If you are away from the country and informed revenue canada about it, you should be OK!!!!!.
Quote:
Originally posted by gktaurus
well you may not be correct. Bank a/c has nothing to do with residence status. I don't have to close my bank a/c if I am not residing in that country. One can literally open accounts anywhere without being the resident of that place.
As for Canadian health benefits, it can cause trouble if one is not in the stated address and still use benefits. So I informed OHIP about my change of address also.
So in my opinion, there is no such thing as giving up permanent residency. If you are away from the country and informed revenue Canada about it, you should be OK!!!!!.
Hi Gktaurus,
How did you inform Revenue Canada?
Did you file a Form NR 73 which is required to determine your residency status for tax purpose?
Please follow this link
http://www.cra-arc.gc.ca/tx/nnrsdnts/ndvdls/nnrs-eng.html
http://www.cra-arc.gc.ca/tx/nnrsdnts/cmmn/rsdncy-eng.html
and you may get answers to your questions.
edit : I erroneously mentioned the form number NR 74 earlier instead of NR 73 which I have now edited.
NR 73 is for Determination of Residency Status ( Leaving Canada )
and
NR 74 is for Determination of Residency Status ( Entering Canada )
-----------------------------------------------------------------
Pramod Chopra
Senior Mortgage Consultant
Mortgage Alliance Company of Canada
