Hi Guys,
Just received my COPR to move to Canada from the UK (spouse visa) - here is my situation....
I plan to work as a freelance web developer but the majority of my work will likely come from my contacts in the UK - my plan would be to charge them an hourly rate in GBP, few questions...
1 - How should i invoice them to make sure i am paying the right amount of tax in Canada? - should i invoice them in Canadian dollars at the exchange rate at the time? - also when the payment hits my bank account, after currency fees, the amount will be less than what i invoiced, again would i be taxed on the amount on the invoice or the amount that hits my bank account after fees?
2 - I also part own a company in the UK and receive dividends, how are these taxed in Canada? is it relatively simple to declare dividends from my UK company on my Canadian tax return?
Just received my COPR to move to Canada from the UK (spouse visa) - here is my situation....
I plan to work as a freelance web developer but the majority of my work will likely come from my contacts in the UK - my plan would be to charge them an hourly rate in GBP, few questions...
1 - How should i invoice them to make sure i am paying the right amount of tax in Canada? - should i invoice them in Canadian dollars at the exchange rate at the time? - also when the payment hits my bank account, after currency fees, the amount will be less than what i invoiced, again would i be taxed on the amount on the invoice or the amount that hits my bank account after fees?
2 - I also part own a company in the UK and receive dividends, how are these taxed in Canada? is it relatively simple to declare dividends from my UK company on my Canadian tax return?
