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resident vs non-resident for Canadians

Asked in Offshore (General) for Canada

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I am a Canadian citizen and am currently living abroad. What are the tax implications for becoming a non-resident. My only income is from pensions and a personal LIF. I am in that grey area for determining status. I have a bank account, drivers licence, mailing address etc. Any advice would be appreciated
 
Tax Pensions Mining
 
Posted by Lowtax user on Apr 27, 2013 at 04:37
 

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It is a question of facts whether an individual is a resident of Canada. Canadian-resident individuals are subject to Canadian personal income tax on their worldwide income. On the other hand, non-resident individuals are subject to Canadian personal income tax only on their Canadian-source income. Subject to certain exceptions, payments of Canadian-source pension benefits to non-residents are generally subject to withholding tax at a rate of 25%, which may be reduced to a lower rate (0%/10%/15%) depending on the income tax treaties signed between Canada and the resident country of the non-residents.

Hope you find the information helpful.
 
Posted by etaxaccountant.ca on Jan 02, 2014 at 17:54
 

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Posted by Kathie22 on Jun 24, 2015 at 00:24
 

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Posted by jlena on Oct 23, 2015 at 10:39
 

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Are you financially down? Do you need a loan to start up business of pay off bills? we offer all kinds of financial assistance to every individuals "Business loan and personal loan, for investment, debt consolidation and house purchase etc." we will be willing to offer you the loan. Offer is affordable at an interest rate of 2%;this Funding program allows our client to enjoy low interest payback for as low as 2% per annul for a period of 2 months - 50 years. We can approve a loan/funding for a minimum of 5,000.00 up to 20,000,000.00 depending on the nature of business. but before we can proceed with the loan,if interested contact us now : { jonesloanfinance@yahoo.com}
 
Posted by EDWARDJONES12 on Sep 20, 2016 at 16:30
 

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