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xmax23

Full Member
Feb 14, 2023
31
3
Lets say I want to immigrate to Canada and get PR.
Lets say I have stocks in my country and they pay yearly divined of $15,000
and I have a house back home that I rent for $10,000 per year
My total income that was 100% generated in my home country is $25,000. There is no income tax in my country that I am from.

Will my income be subject to Canadian tax when I immigrate?
 
Yes! Canadians need to pay taxes on their world-wide income. Only when you sever residential ties with Canada and declare yourselves as a non-resident is when you lo longer have to pay taxes on non-Canadian income.
 
The day you become PR your global income becomes taxable, furthermore, if your assets are over CAD100000 then you need to file a form t1135 (specified foreign property)
 
Yes! Canadians need to pay taxes on their world-wide income. Only when you sever residential ties with Canada and declare yourselves as a non-resident is when you lo longer have to pay taxes on non-Canadian income.
what taxes do I pay ?
lets say I live in Canada but I've stocks dividends and other income outside Canada that total up to $25,000

I make $0 in Canada. What taxes do i pay in my foreign income? Federal? Province?