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Foreign income tax for PR

xmax23

Member
Feb 14, 2023
13
3
Lets say I want to immigrate to Canada and get PR.
Lets say I have stocks in my country and they pay yearly divined of $15,000
and I have a house back home that I rent for $10,000 per year
My total income that was 100% generated in my home country is $25,000. There is no income tax in my country that I am from.

Will my income be subject to Canadian tax when I immigrate?
 

kellyCB

Full Member
Feb 8, 2023
47
26
Yes! Canadians need to pay taxes on their world-wide income. Only when you sever residential ties with Canada and declare yourselves as a non-resident is when you lo longer have to pay taxes on non-Canadian income.
 

caninfoseeker

Hero Member
Aug 25, 2011
765
167
Toronto
Visa Office......
Sydney
The day you become PR your global income becomes taxable, furthermore, if your assets are over CAD100000 then you need to file a form t1135 (specified foreign property)
 

xmax23

Member
Feb 14, 2023
13
3
Yes! Canadians need to pay taxes on their world-wide income. Only when you sever residential ties with Canada and declare yourselves as a non-resident is when you lo longer have to pay taxes on non-Canadian income.
what taxes do I pay ?
lets say I live in Canada but I've stocks dividends and other income outside Canada that total up to $25,000

I make $0 in Canada. What taxes do i pay in my foreign income? Federal? Province?