Tax regulations for a non-resident

[YVR123]

I am presently living and working in Canada for little over 900 days without a single absence. Waiting to finish 1100 days without a single absence, sending in citizenship application and will likely leave for a better job and weather in the US. I know some might not like it but over a million Canadian citizens live and work in the US. If they are able and chose to do it, I dont see why that would be an issue for PR becoming citizen by completing all formalities.
Someone can argue that citizenship application might take long to put a person out of RO. To which I would say if you spend 1100 continues days inside before submitting application, there is no way you fail RO for the next 3 years.

I think you should check with an accountant whose familiar with cross border tax.

IMO, I think you can still declare as a non-resident (tax-wise) and own investment properties. You would pay tax on the investment profit but not on the foreign income. That has nothing to do with your provincial medical coverage. (different requirement)
Again, check with a professional. It depends on all the details (you have family still living in Canada, you have other activities/ties ...etc)

 

[canuck78]

I think you should check with an accountant whose familiar with cross border tax.

IMO, I think you can still declare as a non-resident (tax-wise) and own investment properties. You would pay tax on the investment profit but not on the foreign income. That has nothing to do with your provincial medical coverage. (different requirement)
Again, check with a professional. It depends on all the details (you have family still living in Canada, you have other activities/ties ...etc)

Always safer to check with CRA. You will need to inform them of your move out of Canada no matter what.

 

[Naheulbeuck]

I am curious after reading this discussion and have few questions.
1- If a Canadian citizen is living and working outside Canada, has investment properties in Canada and have zero net income in Canada (mortgage+expenses =rent), do they have to pay any income tax?

I won't repeat what has been said already above, but there are further implications that you should be aware of:

Start here: Election for NR tax on rental property and follow some of the links in there

I invite you to read a lot about rental income calculations, you imply mortgage + expenses = rent but if you want zero income, it is (Interest portion of mortgage+proper expenses) not the full mortgage payment.

Further there are tax implication to rental income for non resident, you will have to remit 25% of the gross rent income to CRA each month, for which you can file the election (see link above) to get that money back (or part of it).

There are also significant consequences when selling the property as a non resident.

Just some further things to consider other than things already mentioned by others.