Emigrating to Canada however still working for Uk Company!

[livylegs]

Hiya Guys,

I was just wondering if anyone knew what the score was with emigrating to Canada,

I work for a UK Online gaming Company and I can really work anywhere in the world from my laptop so I dont know if I was allowed to live permanant in Canada and work for a UK based Company as my wages will still be paid into my UK bank account so I will be still paying NI and Taxes to a Country I know longer reside in.

We are keeping our home in the UK so I dont know if that makes any difference also I will be back in the UK for at least 3 weeks a year,

We are emigrating under the Federal worker part so my hubby will be working in Canada however I am not sure if I wil be allowed to live in 1 country and work for another country?

any ideas anyone??

thanks in advance

 

[PMM]

Hi

Hiya Guys,

I was just wondering if anyone knew what the score was with emigrating to Canada,

I work for a UK Online gaming Company and I can really work anywhere in the world from my laptop so I dont know if I was allowed to live permanant in Canada and work for a UK based Company as my wages will still be paid into my UK bank account so I will be still paying NI and Taxes to a Country I know longer reside in.

We are keeping our home in the UK so I dont know if that makes any difference also I will be back in the UK for at least 3 weeks a year,

We are emigrating under the Federal worker part so my hubby will be working in Canada however I am not sure if I wil be allowed to live in 1 country and work for another country?

any ideas anyone??

thanks in advance

1. Sure you can, but note that as a PR you have to pay income tax on your world wide income. You will get credit for the taxes that you pay in the UK on your Canadian tax return.
2. Note that if you rent out your home in the UK, then you will have to pay taxes on the income, less expenses.
3. Hire an experienced tax accountant to do your taxes in Canada.

PMM

 

[livylegs]

Hi

1. Sure you can, but note that as a PR you have to pay income tax on your world wide income. You will get credit for the taxes that you pay in the UK on your Canadian tax return.
2. Note that if you rent out your home in the UK, then you will have to pay taxes on the income, less expenses.
3. Hire an experienced tax accountant to do your taxes in Canada.

PMM

Hiya PMM

thanks for replying

so is it actually worth working if i have to pay tax on my worldwide income cos I was only gonna work p/t!!
and also taxes and expenses on my home wonder if best to just try and sell it! the way market is i doubt I will sell it though thats why renting seemed a better option.xx

 

[PMM]

Hi

Hiya PMM

thanks for replying

so is it actually worth working if i have to pay tax on my worldwide income cos I was only gonna work p/t!!
and also taxes and expenses on my home wonder if best to just try and sell it! the way market is i doubt I will sell it though thats why renting seemed a better option.xx

1. Read my post, you won't be double taxed as the taxes you pay in the UK will be a credit on your Canadian tax return.
2. Your choice.

PMM

 

[livylegs]

Hi

1. Read my post, you won't be double taxed as the taxes you pay in the UK will be a credit on your Canadian tax return.
2. Your choice.

PMM

Hiya PMM,

Thanks again for replying and sorry I was having a dumb moment not reading your reply properly lol ;D
I feel loads better now I know more about it,
we have decided to put our house up for sale so we hope it sells it will be easier all round to be honest.

thanks again.xx

 

[PMM]

Hi

quote author=livylegs link=topic=32559.msg205200#msg205200 date=1264009904]
Hiya PMM,

Thanks again for replying and sorry I was having a dumb moment not reading your reply properly lol ;D
I feel loads better now I know more about it,
we have decided to put our house up for sale so we hope it sells it will be easier all round to be honest.

thanks again.xx

[/quote]

Your choice, but look into it closely, you know that you have to report the rental income, but you can claim the interest on the mortgage, management fees, maintenance costs, depreciation on the appliances. Discuss with a tax accountant first to determine how viable it is.

PMM