PR expiring soon - Claiming Foreign Status

[kiwi1959]

Hello

I did not meet the residency obligation and my PR expires in couple of month.
I bought (First-time buy) a house last month in Ontario in joint ownership with my wife with 35% down payment.
(The down payment were my saving before landing, I have Bnak statement justification for that)
Now the monthly morthage + house insurance. I'll be paying for money made outside Canada (Salary).
The house will be rent out from Dec, and my family will keep paying the the Apart rent as they prefer the place.

Next December, I'll become Non-resident, but will have income coming from propety rent.
Country where I've been working has no Tax treaty with Canada.
Q1-What type of taxes (and %ge) I will be subject to pay to CRA ?
Q2-Can I claim a Foreigner investor status from Jan-2014 (When my PR Expires) ?
My wife has a part-time job and 2 Children ( one of them is 17 now)
Assume I want to cut any tie with Canada or it's impossible since I own half of the house there and I have to keep
supporting financialy my wife and kids ?


Please adbise.
Thanks

 

[canuck_in_uk]

Hello

I did not meet the residency obligation and my PR expires in couple of month.
I bought (First-time buy) a house last month in Ontario in joint ownership with my wife with 35% down payment.
(The down payment were my saving before landing, I have Bnak statement justification for that)
Now the monthly morthage + house insurance. I'll be paying for money made outside Canada (Salary).
The house will be rent out from Dec, and my family will keep paying the the Apart rent as they prefer the place.

Next December, I'll become Non-resident, but will have income coming from propety rent.
Country where I've been working has no Tax treaty with Canada.
Q1-What type of taxes (and %ge) I will be subject to pay to CRA ?
Q2-Can I claim a Foreigner investor status from Jan-2014 (When my PR Expires) ?
My wife has a part-time job and 2 Children ( one of them is 17 now)
Assume I want to cut any tie with Canada or it's impossible since I own half of the house there and I have to keep
supporting financialy my wife and kids ?


Please adbise.
Thanks

I would advise you to speak to a tax professional. You are not likely to get the proper in-depth advice you require from this forum.

 

[kiwi1959]

Thanks you canuck_in_uk.
You're right, it's a complex case.

 

[PINKORIA]

Regarding P Resident , If it expire and still U are willing to settle in Canada then have to complete 720 day in last last 5 yrs , better have to wait for total 720 days , apply for new card and then go overseas