Hello,
I would like to clarify a few points regarding my tax obligations.
I have held permanent resident (PR) status in Canada for the past two years. However, after completing a soft landing, I remained outside the country and have only recently moved here.
My current employment, salary, and bank account are all based in United Arab Emirates. I would like to understand how foreign income is treated for tax purposes in Canada. Specifically, if I do not disclose my overseas employment and income while filing taxes, how would the government become aware of it, and what are the potential implications (I know as a rule you have to disclose but what If you dont)? anyone has experience for similar thing?
Do authorities actively track or assess income earned outside Canada? Up to this point, I have not filed any taxes in Canada related to my foreign income or sources. Moving forward, I will also be working in Canada and intend to properly file taxes on that income.
I would appreciate your guidance on how to proceed correctly.
Thank you.
I would like to clarify a few points regarding my tax obligations.
I have held permanent resident (PR) status in Canada for the past two years. However, after completing a soft landing, I remained outside the country and have only recently moved here.
My current employment, salary, and bank account are all based in United Arab Emirates. I would like to understand how foreign income is treated for tax purposes in Canada. Specifically, if I do not disclose my overseas employment and income while filing taxes, how would the government become aware of it, and what are the potential implications (I know as a rule you have to disclose but what If you dont)? anyone has experience for similar thing?
Do authorities actively track or assess income earned outside Canada? Up to this point, I have not filed any taxes in Canada related to my foreign income or sources. Moving forward, I will also be working in Canada and intend to properly file taxes on that income.
I would appreciate your guidance on how to proceed correctly.
Thank you.