Coming to Canada on Work Permit - Income Tax

[userrandom23]

Hey Folks,

If I'm coming to Canada for the first time on a work permit (intercompany transfer), does anyone know if my non-Canadian income for the part of the year before I moved to Canada income also taxable?

Do the newcomer income tax rules apply to me? Thank you so much for your help!

 

[canuck78]

Hey Folks,

If I'm coming to Canada for the first time on a work permit (intercompany transfer), does anyone know if my non-Canadian income for the part of the year before I moved to Canada income also taxable?

Do the newcomer income tax rules apply to me? Thank you so much for your help!

Your international income before arriving will need to be declared but will only count to determine things like tax credits and benefits.

 

[userrandom23]

Your international income before arriving will need to be declared but will only count to determine things like tax credits and benefits.

Thank you for your reply and the help!

 

[woodyohill]

Your international income before arriving will need to be declared but will only count to determine things like tax credits and benefits.

What about worldwide assets? Or is it just worldwide income only?

 

[steaky]

What about worldwide assets? Or is it just worldwide income only?

If the foreign assets are over $100,000 in value, they will must be reported in the second year's tax return.

 

[El2023]

If you only declare the income, where is it on the tax form?