Tax related

[pith_123]

Hi,
I wanted to ask, After getting PR of Canada, if we stay outside Canada for eg U.S then do we need to pay taxes in U.S only or will it be taxes for U.S as well as Canada?
Awaiting your response.
Thank you.

 

[Investocrat]

If you are considered to resident in both countries I.e. with significant ties to both countries, you will be required to pay taxes on income earned in both countries. That being said, Canada has a tax treaty with he U.S., so taxes due will be the difference in the tax rates and taxes already paid.

 

[pith_123]

Thank you for your response.
I have received the product Canada. And don't plan to move there for a year or two. I'm currently residing in U.S. So when I file my taxes do I need to pay taxes for Canada as well?

 

[Investocrat]

It appears you don’t have any significant ties to Canada right now - house, spouse or kids in Canada? If that’s the case, you will not be considered tax resident in Canada, and would not need to pay taxes in Canada.

Thank you for your response.
I have received the product Canada. And don't plan to move there for a year or two. I'm currently residing in U.S. So when I file my taxes do I need to pay taxes for Canada as well?

 

[pith_123]

I do not have house, spouse or kids in Canada

 

[Investocrat]

Then I believe you are not considered resident for tax purposes in Canada . However, don’t forget to check the other rules like how many days you spent in Canada for the year ...I think it’s something like 183 days or more.

I do not have house, spouse or kids in Canada