Freelance job - taxable ?

[dbf1]

Hi folks,

dbf1 here. I'll be moving to Canada very soon on a LMIA-exempt work permit to play for a Canadian sports team and I wanted to ask a question regarding working on the side alongside current work permit.
I currently do freelance work for a UK-owned and based company and have been doing this for about 3 years now - I'd like to keep the job as the payment from the team won't be sufficient. My question is can I continue freelancing for this company while on a work permit in Canada?
Keep in mind that the company does not have business connections with Canada in terms of customers/clients or any business front whatsoever. Is this permissible? It's actually a job I ran into on one of such websites as Elance and oDesk.

Thanks

 

[scylla]

Yes - you can continue your freelance work in Canada. Yes - it's taxable and will have to be declared when you file your Canadian income taxes.

 

[dbf1]

Thanks for your input, scylla.
How is this taxable? Could you please shed more light on that since I'll be paid from outside Canada?
And I forgot to add that, payments for the work done will have to be sent to my Canadian account. Is this also permitted ?

Yes - you can continue your freelance work in Canada. Yes - it's taxable and will have to be declared when you file your Canadian income taxes.

 

[scylla]

Thanks for your input, scylla.
How is this taxable? Could you please shed more light on that since I'll be paid from outside Canada?
And I forgot to add that, payments for the work done will have to be sent to my Canadian account. Is this also permitted ?

Canada taxes on worldwide income (as do most countries). If you are living in Canada, the origin of the income is irrelevant - you need to declare it in your return.

 

[dbf1]

Thanks, scylla.
You've been a great blessing to this forum. Doubts sorted.
If you could share sources online where I could check the % that's taxed on the worldwide income, I'd be very glad.

Canada taxes on worldwide income (as do most countries). If you are living in Canada, the origin of the income is irrelevant - you need to declare it in your return.

 

[scylla]

Thanks, scylla.
You've been a great blessing to this forum. Doubts sorted.
If you could share sources online where I could check the % that's taxed on the worldwide income, I'd be very glad.

There's likely no straight forward answer to your question. How much you will be taxed will depend on a number of factors such as the province where you will be living and your total income (any income you earn in Canada will be combined with your worldwide income to determine your total income). Tax rates are also graduated.

However there are plenty of calculators where you can try to guess:

https://simpletax.ca/calculator

 

[dbf1]

Thanks again, scylla. You rock

There's likely no straight forward answer to your question. How much you will be taxed will depend on a number of factors such as the province where you will be living and your total income (any income you earn in Canada will be combined with your worldwide income to determine your total income). Tax rates are also graduated.

However there are plenty of calculators where you can try to guess:

https://simpletax.ca/calculator