I have PR but still outside Canada. If I get rental income from house here, will I have to declare my worldwide income on Canadian Income Tax
canadian tax
- Thread starter analyst123
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I believe a rental property in Canada will qualify you as a tax resident. Hence, you will have to file a tax return and declare worldwide income.
Incorrect. A non resident can own rental property in Canada and file a non resident tax return on various Canadian source income See here:
https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4061/nr4-non-resident-tax-withholding-remitting-reporting-2016.html
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An income property in Canada does not make you a resident for tax purposes so long as it is rented to a third party on an arms length basis. 25% of the monthly rent should be remitted to the CRA as a witholding tax, and you will only be taxed on this income, not your global income.