Overseas Taxable amount

[Zaibi]

Dear Friends,

From all the help that I have been getting from you wonderful people, I thank and appreciate.
As per my understanding, On 1st landing, after declaring all the Assets (Money, gold property earned outside Canada before becoming Permanent resident )  if declared is non-taxable.
Now suppose I declared CAD 50,000 on first landing and come back to the country where I am working and after a year (after getting Canadian PR) I go back to Canada and have CAD 75,000 (means 25,000 which I earned outside Canada in this year)
Do I have to pay any taxes on this additional amount?
Profound Regards

[wilson]

Hi, Please view this site which gives more info about taxation in Canada:

http://www.cra-arc.gc.ca/tx/nnrsdnts/ndvdls/nwcmr-eng.html

[Can10]

Dear Wilson,

Thanks for providing web link, however I find it bit confusing when I apply this in my case.

I made my first landing in September 2010 and stayed just for a week in Canada. During that time, I passed the driving test for G1 license; I opened a bank account for 3 of us (with CAD 200 each account) ; I applied for PRC and SIN and we all returned back to our original country. Later my friend in Canada received G1 license, PRC and SIN and sent across to me to my country.

Recently I called my taxation lawyer and asked if I am obliged to file tax returns for 2010, his answer was NO since I do not have any ties in Canada.

Here I copy some extracts of the web link:

"Quote
You become a resident of Canada for income tax purposes when you establish significant residential ties in Canada, usually on the date you arrive in Canada.

What are residential ties?

Residential ties include:

    * a home in Canada;
    * a spouse or common-law partner (see the definition in the General Income Tax and Benefit Guide) and dependants who move to Canada to live with you;
    * personal property, such as a car or furniture; and
    * social ties in Canada.

Other ties that may be relevant include:

    * a Canadian driver's licence;
    * Canadian bank accounts or credit cards;
    * health insurance with a Canadian province or territory.
UNQUOTE"

Clearly two of the above are true in my case, i.e. a Canadian driver's licence and Canadian bank accounts.

My question remain AM I OBLIGED TO FILE TAX RETURNS FOR THE YEAR 2010 ?

Appreciate your kind advices.

Warm regards,
Can10   

[wilson]

According to my understanding you have to file the tax return.

[mystic444]

I too landed in Canada in May 2010 with my family and we all returned to our country in 10 days time. But we opened bank accounts, received PR and SIN cards. We will return this year to Canada permanently. As I just learnt that April 30 is the last date to file tax returns it is impossible to do so.

Please advice if we can file the tax returns for 2010 after we go back to Canada.

[Can10]

Thank you Wilson for your opinion. I am going to write to my lawyer seeking more clarifications on the subject and will let you and form members know of the outcome.

[wilson]

I too landed in Canada in May 2010 with my family and we all returned to our country in 10 days time. But we opened bank accounts, received PR and SIN cards. We will return this year to Canada permanently. As I just learnt that April 30 is the last date to file tax returns it is impossible to do so.

Please advice if we can file the tax returns for 2010 after we go back to Canada.

Hi mistic444,

Please view the pages concerned:

http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/menu-eng.html