New Immigrant Paying First Tax

[icherian]

We first landed in Canada on July 2013 AND received our PR Card on August 2013.
We returned to the place of work (Dubai, UAE) on August 2013 after getting the PR.

Now (August 2014) we are permanently moving to Alberta, Canada.

Question one:

These questioners are regarding tax payments.
When should we start paying taxes ? 2013 or year 2014 ?
What is the first step towards paying taxes ? - Is it starting an account with CRA (Canada Revenue Agency) ?
Can i submit my first tax payment from overseas through online ?
Or should i be in Canada to submit my first tax payment ?

Kindly advise
Isaac

 

[Amadan123]

Hello Isaac,

Please see responses below:

1) you will file a tax return for the first time for the 2014 year. You will show that you entered Canada in August 2014; and you will be taxed in Canada on your worldwide income from August 2014 to December 2014.

2) the first step would probably be in obtaining a tax payer ID number, or a SIN number. This is how CRA identifies individual taxpayers.

3) the CRA does accept international tax payments, but they must be wired, I believe, which may be subject to its own form of fees and charges.

4) Not necessary, but it is much easier to make a tax payment this way because you can use Canadian financial institutions, Canada post, and other local infrastructure in place which is tried and tested for the peace of mind.

If you have any other questions, do not hesitate to post here!

Madan Chartered Accountant team
www.madanca.com