Income Tax

[jakespeed]

I will be landing in Canada this March 2015 with my family. My boss, in my current country of residence, has approved of me working remotely in Toronto. In this scenario, my income will be taxed in the country where the company is. My net income will then be transferred to my bank in Toronto. My question is, how much of this net income will be taxed in Canada?

Appreciate your helpful advice on this.

 

[Lammawitch]

Start here:

http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/rprtng-ncm/lns101-170/104/frgn-eng.html

And follow the various links. It sounds complicated when one reads it all for the first time, but it becomes quite clear as one actually fills out a return

Depending on your circumstances, it might be worth investigating whether you would be better off as an independent contractor...

 

[polara69]

There is even a sub forum here about Canadian taxes...

http://www.canadavisa.com/canada-immigration-discussion-board/canadian-finance-and-taxation-b25.0/

 

[mrbeachman]

Canada taxes on worldwide income. Since we don't know your income it will probably taxed the maximum amount allowed.

 

[torontosm]

I will be landing in Canada this March 2015 with my family. My boss, in my current country of residence, has approved of me working remotely in Toronto. In this scenario, my income will be taxed in the country where the company is. My net income will then be transferred to my bank in Toronto. My question is, how much of this net income will be taxed in Canada?

Appreciate your helpful advice on this.

Your entire income will be taxable in Canada. This amount may be reduced by the amount of tax paid in the country where your employer is based (if any) in the event that a tax treaty exists between Canada and said country. This is perfectly fair as you and your family are living in Canada and using Canada's services, and should have to pay for these services via taxes.

 

[jakespeed]

Thank you all for your advice. It gave me a much clearer picture of my position.