Hi there,
I plan to enter Canada this summer as a temporary worker with my pre-approved open work visa. During this time, I would like to obtain a job in Canada.
Along with that, I am considering contract work from US based companies while I am temporarily residing in Canada.
My understanding is, since I will be there for more than 183 days, I will be considered a resident of Canada for tax purposes. Therefore, I must file taxes, on both sides, for Canadian derived income and my US derived income. Then I will be eligible for tax credit on the US side after filing.
Does this sound correct? Anything I am missing or should be concerned about?
I plan to enter Canada this summer as a temporary worker with my pre-approved open work visa. During this time, I would like to obtain a job in Canada.
Along with that, I am considering contract work from US based companies while I am temporarily residing in Canada.
My understanding is, since I will be there for more than 183 days, I will be considered a resident of Canada for tax purposes. Therefore, I must file taxes, on both sides, for Canadian derived income and my US derived income. Then I will be eligible for tax credit on the US side after filing.
Does this sound correct? Anything I am missing or should be concerned about?