TK
Any thoughts on shipments to India from here?
T
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"The grass is not, in fact, always greener on the other side of the fence. Fences have nothing to do with it. The grass is greenest where it is watered. When crossing over fences, carry water with you and tend the grass wherever you may be"
Location: God's own country
Posted on: 10-12-10 00:02:33
Quote:
Originally posted by Timon
TK
Any thoughts on shipments to India from here?
T
Sorry. No Idea.
I know that Freddie had before given us the agent who does this (I guess Door to Door). You might want to check his postings. do a cost benefit analysis and see if it is worth.
Jet airways allows 2 checked in bags of 23 kg each. Upto 32kg is $ 50 extra and each extra piece is $ 150. Cabin baggage is 7 kg. Besides you can take additional items like laptop, Handbag (provided you are a ladies), stroller, umbrella. Try to exploit this.
Even if you leave your stuff in storage (around $ 150 a month) in Canada, the govt .. will see this as a tie and ask you to declare and pay taxes on world wide income. Besides once you leave Canada, you are not eligible for any welfare, CCTB, Hst credit etc...
best bet is to liquidate (esp. china made) and buy stuff in India or Gulf.
Peace
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I am a Gents and not a Ladies.
What is the best way to ship around 10 boxes to india, preferably Door to Door?
Thanks
T
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"The grass is not, in fact, always greener on the other side of the fence. Fences have nothing to do with it. The grass is greenest where it is watered. When crossing over fences, carry water with you and tend the grass wherever you may be"
Quote:
Originally posted by tamilkuravan
Quote:
Originally posted by Timon
TK
Any thoughts on shipments to India from here?
T
Even if you leave your stuff in storage (around $ 150 a month) in Canada, the govt .. will see this as a tie and ask you to declare and pay taxes on world wide income.
Peace
While living and paying tax in India, you won't pay any tax in Canada even if you have a tie. DTAA (Double taxation avoidance agreement) will protect you.
Location: God's own country
Posted on: 10-12-10 11:27:29
Quote:
Originally posted by web2000
While living and paying tax in India, you won't pay any tax in Canada even if you have a tie. DTAA (Double taxation avoidance agreement) will protect you.
Well. my understanding is that you may have to pay the difference in tax.
For example, pay 10% tax of your income to India (after using all legal tax evasion techniques) whereas that rate of income may attract 35% income tax in canada. so you have to pony up 25% difference in tax to Canadian authorities if you show a tie.
also note that even if you show a tie (and you live less tahn 183 days of a year in canada) you will still be ineligible for social welfare cheques 9CCTB, national education benefit, HST credit etc..).
if you live in the Gulf (No tax), tehn you are scre*ed.
Maybe knowledgeble persons can shed more light like Pramodji, Dimple, Hiren, SS, DT, Desi_driller, Desi#1 etc...
Peace
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I am a Gents and not a Ladies.
Yes TK
You are right. If you still maintain Canadian Residency & Earn & Pay Taxes in any other country. Even you are covered under DTTA , you get foriegn tax credit for actual tax paid in your country of Emloyement. So, if you pay 20% Tax in India , you will get tax credit for 20% & Balance you will have to pay to Canada. It is same for all countries . On the other hand, if you if you pay ITax of 40% in India ( or any other Country), You will get all the credit to & you will pay no Tax in Canada but India will not refund your excess tax. So, basically , it is same everywhere, All countries are willing to suck you for Max. possible extent.
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Driller the thriller
Quote:
Originally posted by desi_driller
Yes TK
You are right. If you still maintain Canadian Residency & Earn & Pay Taxes in any other country. Even you are covered under DTTA , you get foriegn tax credit for actual tax paid in your country of Emloyement. So, if you pay 20% Tax in India , you will get tax credit for 20% & Balance you will have to pay to Canada. It is same for all countries . On the other hand, if you if you pay ITax of 40% in India ( or any other Country), You will get all the credit to & you will pay no Tax in Canada but India will not refund your excess tax. So, basically , it is same everywhere, All countries are willing to suck you for Max. possible extent.
Let us take an example to understand clearly. Say I earn Rs. 450,000 (approx $10,000) and pay tax on Rs 300,000 (150,000 is tax deductible) which is Rs. X. Since there is almost no tax on $10,000 in Canada, will I be exempted from paying any tax in Canada?
If my earning is $20,000 (Rs 900,000) and I would owe $2000 to CRA had I earned that amount in Canada, I will still be exempted from tax as I already be paying more than $2000 (Rs 90,000) tax in India.
In my second example if I already paid $2000 or more on $20,000 amount in India, I don't think that I have to pay again $2000 in Canada. As long as you are staying in India, earning there and paying tax there then the chances of paying any tax in Canada is almost NIL because Canada has higher slab for tax rebate and if it is not the case then what is wrong in my above examples?
Is it correct what I understood?
