Last one; I do not really understand the implications of having a business, an incorporated one, in Canada and not being resident. I am still paying in on CPP, and even have taxes to pay. It seems to be required that 25% of the owners of a company are resident in Canada. Is any of the honorable forum members knowledgeable on this subject?
I have a fair amount of money in the business account ( sale of my truck) that I use to pay myself a monthly salary, something I need if I am to apply for the Philippino Permanent Residence for old retired white guys ( although that program is on hold at the moment). I also own a house in Canada that is rented out, money I also need to be able to live here. What are the tax consequences ?
I have a fair amount of money in the business account ( sale of my truck) that I use to pay myself a monthly salary, something I need if I am to apply for the Philippino Permanent Residence for old retired white guys ( although that program is on hold at the moment). I also own a house in Canada that is rented out, money I also need to be able to live here. What are the tax consequences ?