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Fencesitter

Champion Member
Sep 29, 2011
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Category........
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Hong Kong
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App. Filed.......
April 13, 2012
AOR Received.
AOR2 July 25, 2012
File Transfer...
July 13, 2012
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Mar 1, 2012
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Aug 28, 2012
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Sept 24, 2012
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Jan 30, 2013
How much money are Canadian citizens who have worked outside of Canada allowed to bring back to Canada without being taxed?
 
Hi


Fencesitter said:
How much money are Canadian citizens who have worked outside of Canada allowed to bring back to Canada without being taxed?

As much as they want, but if you didn't declare yourself as a non resident taxpayer with CRA, then you are expected to pay Income tax on your world wide income.
 
What about immigrants holding a PR visa? What is the limit on how much they can bring with them without the worry of being taxed?
 
Hi


Fencesitter said:
What about immigrants holding a PR visa? What is the limit on how much they can bring with them without the worry of being taxed?


1. If they have never been a tax resident of Canada, then they can bring as much as they can carry or transfer without tax. Note if you are carrying more than $10K on entry you have to declare it to CBSA, there is no tax, but it has to be declared.
2. If you are PR and are a tax resident of Canada, then you should have declared your income from all sources.
 
I see, thanks. So if I am unsure of my status, to be safe, I should let me wife (the PR visa holder) carry all our money...why should I pay income tax on money earned abroad (which has already been taxed here in China).

I called Revenue Canada the other day and found out that they do not have an official record that I became a non-resident for tax purposes. When I first moved abroad, I went to the Canadian Embassy and filled out some forms specifically relating to being a non-resident. I don't know what happened, but obviously someone dropped the ball. Luckily, the officer I spoke to from Revenue Canada was really cool (she was also applying for sponsorship for her husband to immigrate to Canada). She put a note on my file that states when I became a non-resident. She warned me, however, that this could raise a flag with RC...but she said I don't have anything to worry about because there is no outstanding tax issue on my file and that there is nothing in my file that could cause legal issues.

I suppose my son, he'll be around 2 when we land in Canada, could carry some $$ as well...it would be pretty funny if the tax code called for income taxes to be paid by a child...but ultimately I do not want to give any money to the Canadian government until I begin working in the country...and receiving benefits...

The one thing I don't like is the high taxes we have to pay, but if I weigh all the pros and cons of living in or outside Canada, there is no doubt that living in Canada is better for my family...
 
You would receive credit for tax deducted from the income earned abroad, according to whatever agreement exists between Canada and China. My husband declares my income as his "world income" and has never been taxed on it (considering what's left after I am taxed, I can understand why. :P)
 
I haven't filed a tax return with Revenue Canada in years...ever since I moved abroad. The officer I spoke to from RC said this shouldn't be an issue because I am a non-resident for tax purposes.

I just hope that I have all this right, and if I don't, I really hope I would not face any legal troubles...or even jail time!!!!