Returning to canada

[ramkris]

Dear All Experts,

I have some questions regarding the returning of pr to canada. Me and my wife are PR who did our first landing almost 3 years back. After landing process immediately return to our resident country and continue to work there. Now we are planning to go back to canada permanently leaving our jobs here.

1. Do we need to pay taxes in canada?.

2. If so how much percentage?.

3. Do they ask for any proof of salary certificate etc?.

4. Although we declared some amount during our first landing, we never took that amount in to canadian banks. can we take that amount now.
Is that amount will be taxable?.

note: we never visited or done any job in canada after our landing.

Regards
Ram

 

[manianz47]

1. Do we need to pay taxes in canada?.
Obviously YES

2. If so how much percentage?.
Depends on your Salary (Different slabs)

3. Do they ask for any proof of salary certificate etc?.
If you are employed, it is Tax Deducted at Source (referred to as T4)

4. Although we declared some amount during our first landing, we never took that amount in to canadian banks. can we take that amount now. - Yes
Is that amount will be taxable?. - No

 

[torontosm]

Dear All Experts,

I have some questions regarding the returning of pr to canada. Me and my wife are PR who did our first landing almost 3 years back. After landing process immediately return to our resident country and continue to work there. Now we are planning to go back to canada permanently leaving our jobs here.

1. Do we need to pay taxes in canada?.

2. If so how much percentage?.

3. Do they ask for any proof of salary certificate etc?.

4. Although we declared some amount during our first landing, we never took that amount in to canadian banks. can we take that amount now.
Is that amount will be taxable?.

note: we never visited or done any job in canada after our landing.

Regards
Ram

I think the question related to the requirement to pay taxes on income earned over the last three years while Ram and his wife were residing overseas. In that case, if you were not physically present in Canada and did not maintain strong personal ties to Canada (i.e., a house, car, furniture, income, earnings, etc.), then you would not be considered a Resident for tax purposes. As a result, you would not have to pay taxes on your foreign income earned over the last three years.

Of course, as the previous poster mentioned, once you return to Canada to live permanently, this would change and you would be considered to be Residents and subject to all taxes. The tax rates vary based on total income (in Canada and foreign income), along with the province that you reside in. Income must be declared before April 30 of the year following the tax year when you file your income tax return. If you are salaried, a provision for taxes is usually deducted by your employer every pay period, and remitted to CRA. Adjustments (payments/refunds) are done when you file your taxes.

I hope this helps.

 

[ramkris]

Thanks for all the answers. Yes question was related to the earnings made by us during our stay out of canada these 3 years.

I know that we need to pay taxes once we are earning in canada.

With regards to the 4th question we have bank account in canada . Can we transfer lumpsum amount to that bank or is there any procedure to deposit that money in to it . Should we say that this money was our savings something like that?.

Is it better to carry any DD or transfer to account ?

3. Do they ask for any proof of salary certificate etc?.
If you are employed, it is Tax Deducted at Source (referred to as T4)

I dont have any tax cut here. Will they deduct tax once i land in canada with certain amount.

Regards
ram

 

[ramkris]

Another question once i come back to settle permanently do i need to pay tax on my earnings out of canada.

Coz ans is little confusing.




Of course, as the previous poster mentioned, once you return to Canada to live permanently, this would change and you would be considered to be Residents and subject to all taxes

The tax rates vary based on total income (in Canada and foreign income), along with the province that you reside in.

Is this answer related to the earnings outside canada before landing for settlement or if there are continuos earnings out side canada. please clarify?


I would like to mention i wont be earning anything out of canada once i come back there. So do i need to pay tax on the income earned during these 3 years and previous years before landing.

 

[zardoz]

No. They will already have been taxed by the country in which those earnings were made, UNLESS that was income from sources in Canada that have not already been taxed.