Questions and Answers from an interview with Kerry Gray, partner in the Global Employment Solutions Network Group, Ernst Young Canada LLP Q: One of the first questions that I would like to ask you about is the tax implication of moving away from Canada — of changing one’s residency status. A: Under Canadian law, unlike U.S. law, we tax…
APEGGA Professional Speaker Series On March 3rd The Expatriate Group did a presentation for APEGGA. The topic was “Canadians planning to work abroad (or come home)”. Living as an Expat Canadian is much more than tax implications. During the presentation we identified the 6 dimensions of Expat Planning: Goals, Tax, Lifestyle, Wills, Currency/Banking and Financial Planning. This presentation gave…
By Mark Gollom, CBC News Posted: Apr 25, 2012 The Canada Revenue Agency defines someone as a “factual resident” for taxation purposes if they maintain “significant residential ties” to Canada. Canadians can travel far and wide, but never quite far enough to avoid paying taxes. Whether you’re working in a bar in Paris, or on a global trek, you may still be on the hook for paying tax on income…
Posted on: Currecnyfair.com Living abroad can be complicated — you’re in a new culture, very likely grappling with at least one foreign language. There’s housing to consider, and if you’ve got children then there are issues related to child care and schools. Even managing your finances abroad can be complex, and that’s where some professional advice might come in…
How to get a U.S. dollar credit card By Aaron Broverman If you do a lot of spending in the States, you may be considering getting a U.S. dollar credit card, which will allow you to spend in American currency and avoid foreign transaction fees. “If you’re a Canadian snowbird vacationing in Florida for five or six months [with…
June 08, 2015 by Jeanette Boleantu The Expatriate Group strongly recommends that appropriate tax advice be sought prior to the withdrawal of any RRSP balances. There are two tax consequences that exist for withdrawing registered products before you retire –regardless of your tax residency status. The amount you redeem is taxable income: You have to report the amount you take…
What you need to do when moving back home The Expatriate Group strongly recommends that appropriate tax advice be sought prior to returning to Canada. As a Canadian citizen returning from abroad there is a lot to consider before you re-enter please consult a cross-border tax specialist. We can advise. Step One: Determine Your Residency Date Residency is based on…