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Would opening a Canadian bank account make me liable for taxation

Discussion in 'Settlement Issues' started by cooldoc80, Jun 27, 2015.

  1. Dear Experts

    I plan to land next month for a short visit , my plan to let my wife settle in canada 6 months a year while i will visit her from time to time ( keeping in mine the 2/5 years Obligation)

    my question is regarding the first 3 years after landing which i will only be in canada for approximately 3 months a year and my wife 6 months a year.

    I will be working in my country of origin as there is a contract that i cant break for the next couple of years , i already know that if my wife is present in canada for more than 6 months that would make me liable for taxation .

    Does opening a bank account in my name with my savings would increase the possiblity of me getting taxted or this would not have any influence , or this dosent make any difference at all ?

  2. No difference. In Canada you are taxed on your world wide income.
  3. Thanks for answer but how would I be taxed if I only live in Canada 3 months a year at the first couple of months !
  4. You need to find out if you are a resident of Canada for tax purposes. Go to CRA website, research on Google or call CRA to find out.
  5. CRA website http://www.cra-arc.gc.ca/

    Offices http://www.cra-arc.gc.ca/cntct/tso-bsf-eng.html

    contact # http://www.cra-arc.gc.ca/cntct/ntrntnlnqrs-eng.html

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