Does self employed outside Canada count?

[xmax23]

I'm confused.

If you want to explore the culture then why do you even care about getting PR???????? Just go on a holiday visa - that way you don't have to worry about double tax treaties and competing in a new market with completely different dynamics. You can explore culture, enjoy the mountains, take photos with girls with cowboy hats as much as you want for a couple of weeks/months then go back.

Besides you have zero prospect of immigration anyway, yet you seem to suggest that it's a walk in the park and the bigger concern for you is taxes despite having no skilled work experience. Am I missing something? Do you have a trucking business? Did you drive trucks on Uber? If not then you can't possibly start a trucking business or work as a truck driver here.

And yes, in Canada you declare all foreign income in your federal tax return if you live here.

Do I pay province tax? or just f

You would pay a combination of provincial and federal taxes on your income generated outside of Canada. Your income generated in Canada will not be tax free if you are living in Canada.
[/QUOT

So, there are 3 taxes
- Federal
- Province
- CPP/EI Premiums

Lets say I live in Canada on the income I generate back home. Lets say $50,000 per year
I make $0 in Canada

What taxes do I have to pay? All three taxes?

 

[xmax23]

I used a calculation based on $50,000 in Ontario
Federal=$4545
Province=$2176
CPP/EI= $5301

Lets say I don't work in Canada at all. I just live there. I just make $50,000 from properties and stocks in my origin home.
Do I get taxed the same? Is there a different method of taxation?

 

[ragolliangatan]

Do I pay province tax? or just f

So, there are 3 taxes
- Federal
- Province
- CPP/EI Premiums

Lets say I live in Canada on the income I generate back home. Lets say $50,000 per year
I make $0 in Canada

What taxes do I have to pay? All three taxes?

You pay federal and provincial, the CPP you pay up to a set amount a year, EI you also pay.

CPP/EI Premiums are normally done through your employer so not sure- but Federal/Provincial taxes you would pay. If you are coming to live in Canada - why would you expect that you wouldn't have to pay into the taxation system to pay for services,etc...?

On top of that if you have stocks,etc.. you would need to report those just in case you need to pay capital gains taxes on them.

In the end, you can generally only immigrate to Canada based on job experience or having guaranteed work in Canada. There is the PNP system but you'd be expected to contribute via taxes towards the Province you are living in.

 

[xmax23]

CPP/EI Premiums are normally done through your employer so not sure- but Federal/Provincial taxes you would pay. If you are coming to live in Canada - why would you expect that you wouldn't have to pay into the taxation system to pay for services,etc...?

On top of that if you have stocks,etc.. you would need to report those just in case you need to pay capital gains taxes on them.

The money is not generated in Canada. It is not made in Canada. Currently I don't get taxed. It would not be in my interest to move there and get hit with all these taxes.
I know other countries such the US wont tax you unless you make above $100,000. But in Canada the bar is so low.
I am already going to spend the money on rents, food,..ext.

I think getting a PR is not the option. Visiting Visa probably be the best

 

[scylla]

I used a calculation based on $50,000 in Ontario
Federal=$4545
Province=$2176
CPP/EI= $5301

Lets say I don't work in Canada at all. I just live there. I just make $50,000 from properties and stocks in my origin home.
Do I get taxed the same? Is there a different method of taxation?

It would be taxed as income so basically taxed the same.

 

[ragolliangatan]

I am already going to spend the money on rents, food,..ext.

I think getting a PR is not the option. Visiting Visa probably be the best

the rest of us having to spend money on rent/mortgages, food,etc... too

But, I would suggest a visitors visa would be a good first step.

 

[scylla]

I know other countries such the US wont tax you unless you make above $100,000.

This is actually incorrect. I know since my husband has to file US taxes.

The US tax system is in some ways harsher than Canada's since you have to file taxes on your worldwide income even if you are a non-resident (like my husband who hasn't lived there in 10+ years).

 

[xmax23]

This is actually incorrect. I know since my husband has to file US taxes.

The US tax system is in some ways harsher than Canada's since you have to file taxes on your worldwide income even if you are a non-resident (like my husband who hasn't lived there in 10+ years).

From my understanding and I could be wrong, you have to file, but you pay once you exceed $100k
in Canada you get only 12000 tax free and 90% of the income has to be made in Canada.

I am defiantly canceling the idea of PR. It is not in my interests.

 

[scylla]

From my understanding and I could be wrong, you have to file, but you pay once you exceed $100k
in Canada you get only 12000 tax free and 90% of the income has to be made in Canada.

I am defiantly canceling the idea of PR. It is not in my interests.

Your understanding of US tax law is incorrect. People who make less than $100K still pay taxes. The information on this site may help you to understand estimated tax rates based on income: https://www.fidelity.com/tax-information/tax-brackets

Your understanding of Canadian tax law is also incorrect. There's no 90% income in Canada rule.

 

[xmax23]

Your understanding of US tax law is incorrect. People who make less than $100K still pay taxes. The information on this site may help you to understand estimated tax rates based on income: https://www.fidelity.com/tax-information/tax-brackets

Your understanding of Canadian tax law is also incorrect. There's no 90% income in Canada rule.

Basically, you are allowed earn up to $14,398 tax free in the tax year if 90% or more of your total income was sourced in Canada.

https://www.taxback.com/blog/declaring-foreign-income-in-canada/#:~:text=Basically, you are allowed earn,income was sourced in Canada.

Is this right?

 

[scylla]

From my understanding and I could be wrong, you have to file, but you pay once you exceed $100k
in Canada you get only 12000 tax free and 90% of the income has to be made in Canada.

I am defiantly canceling the idea of PR. It is not in my interests.

All of this is a moot point anyway since you don't really have a path for immigrating to Canada right now.

 

[ragolliangatan]

From my understanding and I could be wrong, you have to file, but you pay once you exceed $100k
in Canada you get only 12000 tax free and 90% of the income has to be made in Canada.

I am defiantly canceling the idea of PR. It is not in my interests.

you're wrong for sure, and these systems work to avoid double taxation. But if you are not being taxed in the UAE on your income- Canada or the U.S would for sure.

 

[scylla]

Basically, you are allowed earn up to $14,398 tax free in the tax year if 90% or more of your total income was sourced in Canada.

https://www.taxback.com/blog/declaring-foreign-income-in-canada/#:~:text=Basically, you are allowed earn,income was sourced in Canada.

Is this right?

You are mixing resident and non-resident tax rules. You're taking one statement that applies in very specific circumstances and applying it broadly. You can't do that. You are doing the same for the US. You have to understand the full tax rules vs. finding bullets that only apply in specific circumstances and assuming they apply in all circumstances. This is why your assumptions for tax rules in both countries are incorrect.

 

[ragolliangatan]

Basically, you are allowed earn up to $14,398 tax free in the tax year if 90% or more of your total income was sourced in Canada.

https://www.taxback.com/blog/declaring-foreign-income-in-canada/#:~:text=Basically, you are allowed earn,income was sourced in Canada.

Is this right?

that 14,398 figure is based on being a non-resident of Canada, However, if you get PR you are treated as a resident so that rule doesn't apply.

 

[xmax23]

You are mixing resident and non-resident tax rules. You're taking one statement that applies in very specific circumstances and applying it broadly. You can't do that. You are doing the same for the US. You have to understand the full tax rules vs. finding bullets that only apply in specific circumstances and assuming they apply in all circumstances. This is why your assumptions for tax rules in both countries are incorrect.

This is vey confusing. anyway I am just canceling the idea of PR. Visitor visa is what would fit my situation.
Thank you all