PR - away from Canada 4 years - next tax return?

[neuroticdan]

Good evening;

I am a PR who spent the past four years away because of family reasons. I was allowed to come in(and retain PR status) through a land-border in June with no more than a warning (good luck or good karma, perhaps both).

Anyway, I last filed taxes in 2009. Then I left Canada, closed my bank accounts and had no assets in the country.

I now re-opened my accounts, renewed driver's license, and am looking for work.

Question: will I be in trouble next year when I file my taxes, because I didn't file in 2010, 11, 12, 13 & 14?

Thanks in advance.

 

[Amadan123]

Hello neuroticdan,

An individual has Canadian tax reporting and payment obligations only if that individual is a resident of Canada for tax purposes. Residency depends on whether or not one had ties to Canada with things like home, spouse, dependants, drivers license, bank accounts, in Canada etc.

The question is a matter of fact. Did you have any of the above ties to Canada during the years you were away?

If you established these ties in June 2014, then you will be a part-year resident in 2014, where you will have to report and pay tax on your worldwide income from June 2014 to December 2014.

It will take a closer, complete study of the facts to properly conclude on the treatment as it relates to your situation.

Madan Chartered Accountant team
www.madanca.com

 

[neuroticdan]

Thank you. That's consistent with other comments I've gotten in the past couple of days. Regards.

 

[Amadan123]

Please see this Income Tax Folio for more information: http://www.cra-arc.gc.ca/tx/tchncl/ncmtx/fls/s5/f1/s5-f1-c1-eng.html

Madan Chartered Accountant team
www.madanca.com