Thank you very much cdn_dude.
If you are PR holder u only have to pay taxes in country of residence.
If you are canada citizen , you have to pay taxes on world income in canada..
basically u pay USA taxes and then u pay difference in canada.
To avoid this people do what is called severing ties to canada by closing bank accounts , selling home and sending a letter to CRA about the intention to give up Canadian residence for tax purpose..
Quote:
Originally posted by son-of-india
do u know that working in US ,you would have to pay the canadian taxes.
Posts: 2873
Location: Western Hemisphere
Posted on: 09-08-10 12:59:01
Location: Western Hemisphere
Posted on: 09-08-10 12:59:01
Quote:
Originally posted by dudewheresmycar
If you are PR holder u only have to pay taxes in country of residence.
If you are canada citizen , you have to pay taxes on world income in canada..
That's an incorrect statement. Very simplistically, if you are a tax resident of Canada (doesn't matter if you are PR or citizen), then you file and perhaps pay taxes on worldwide income in Canada. If not, you don't.
Unlike US citizens/ Green Card holders, Cdn citizens are not obligated to file/pay taxes if he/she is not a tax resident.
Determining whether you are a tax resident requires some research. As cdn dude stated, this is a complex area and one should research deeper to determine what their situation is.
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Dimple2001
http://www.centa.com" rel="nofollow">LINK is a good website for cross border taxation reading ....
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We will find a way or we will make one
