Hi everyone,
For foreign students in Canada, say on a student visa for 2 years and on a 3 year Post Graduate Work Permit after that, do they have to declare and pay tax on foreign-sourced income? Based on my reading, as long as they're considered a Canadian tax resident, they have to declare and pay since they're deemed resident under the 183 day per year rule. Is this correct? I'm just wondering if there are any big exceptions- in Australia, for example, even though you are a tax resident, if you're holding a temporary visa (like a student visa), you don't have to declare and pay tax on foreign passive income.
Thanks so much for all your help!
For foreign students in Canada, say on a student visa for 2 years and on a 3 year Post Graduate Work Permit after that, do they have to declare and pay tax on foreign-sourced income? Based on my reading, as long as they're considered a Canadian tax resident, they have to declare and pay since they're deemed resident under the 183 day per year rule. Is this correct? I'm just wondering if there are any big exceptions- in Australia, for example, even though you are a tax resident, if you're holding a temporary visa (like a student visa), you don't have to declare and pay tax on foreign passive income.
Thanks so much for all your help!