Leaving Canada permanently after citizenship ?
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Quote:
Originally posted by Amvk
Well , Just personal choice , i am all alone here , no social life, i don't like weather here and i am not saving any money here , so i like to keep my options open,
I feel anyone who is not happy should try different options, rather than complain , i know lots of desis here are well settled and happy as well
Completely agree! Good luck with your move!
I think you should consult a CPA. Filing your taxes every year with 0 income here will help you in future should you decide to come back with family.
Quote:
Originally posted by Amvk
I am planning to move back to India or work in Middle east after getting my Canadian citizenship,
Can it be done, I don't have any ties to Canada, (no property, investment, loans, relatives, etc etc )
Will i have any liabilities or responsibilities in Canada ?
Do i have any tax liabilities etc, what is best way to achieve this goal ?
PLanning to live in INdia with OCI card
thanks
----
Here are somethings that you should do...
The latest Passports are Machine readable and are Valid for 10 years. See if you have one. If you don't have one, then see if you can get one. That will keep you in good stead for the next TEN years. You also know what are all of the requirements to renew, so, keep all of those documents in a safe place. You will need them after the next TEN Years.
Also find the group of EXPATS from Canada at the new location where you are heading to. You might need their help at the time of renewal. While you are still in Canada, See if you can obtain a Credit Card and a Debit card from India or M.E. right from here from any bank that you are associated with, just to get by, AFTER you close out all of the Bank Accounts here.
Also there are other PRE PAID Credit Cards are available in the USA. See if you can get one, even for a small amount. US Dollar is the most accepted currency all over the world. It will come handy.
See if you can get an INTERNATIONAL DRIVER'S PERMIT here before you leave, that will enable you to move about in the new place. Also obtain a Driving record from your MOT office.
A letter of Good Standing from your Insurance company here, that is
providing you with the Insurance coverage.
Collect all your References from your Past Employers here, before you leave. Pay a final visit.
THE NEXT THREE ARE The hardest part. Which is Closing down of... your
1) BANK ACCOUNTS.
2) RETURNING YOUR OHIP CARD.
3) RETURNING OF THE DRIVER'S LICENSE.
All of these have to be done in writing and by REGISTERED MAIL. Also keep copies of all of the cards and letters and documents. Plus retain all of the mailing receipts with Tracers. ( or ACK'S)
BOOK A RETURN TICKET VIA the Middle East. It is cheaper and
safer and will provide you entries into Dubai, two easy entries,
with an OPEN TICKET. (And Two free days stay also, in a hotel)
Please fill one out prior to departure and get a CLEAR RESPONSE from them. That is the document that you need to show that you NO LONGER are a RESIDENT OF CANADA. Hang on to it dearly. (It is like an income tax clearance certificate)
http://www.cra-arc.gc.ca/E/pbg/tf/nr73/README.html
ALSO, Inform three of the CREDIT AGENCIES, in writing, that you are no longer a resident of Canada and do not anyone else to use the system on your behalf. This will eliminate any misuse of your name.
When you want to file a final tax return :
Taxes : http://www.cra-arc.gc.ca/E/pub/tg/t4056/README.html
SOME MORE INFORMATION:
EMIGRANTS.: http://www.cra-arc.gc.ca/tx/nnrsdnts/ndvdls/lvng-eng.html
Hope this helps.
FH.
TRUE
Quote:
Originally posted by Amvk
Govt want people to pay unreasonable taxes till they die , and just pay them enough that they survive
No issues exploring options..but above statement is not reasonable.
If you go to India, you pay taxes but you don't get service for that taxes. In middle east you don't pay taxes but there you live like a slave or third world citizen. Here you pay higher taxes because during the old age when you are not capable, the govt helps you out with health insurance, OSA, CPP etc. Also your taxes help the needy...such as single moms, refugees, old people etc. Now there are some exceptions/folks who take disadvantage of this by expecting a lot more without contributing anything but that percentile is low.
So no issues you going out and living life you like to, but blaming govt and tax system over here for your life is absurd.
Quote:
Originally posted by bhootnath
Quote:
Originally posted by Amvk
Govt want people to pay unreasonable taxes till they die , and just pay them enough that they survive
No issues exploring options..but above statement is not reasonable.
If you go to India, you pay taxes but you don't get service for that taxes. In middle east you don't pay taxes but there you live like a slave or third world citizen. Here you pay higher taxes because during the old age when you are not capable, the govt helps you out with health insurance, OSA, CPP etc. Also your taxes help the needy...such as single moms, refugees, old people etc. Now there are some exceptions/folks who take disadvantage of this by expecting a lot more without contributing anything but that percentile is low.
So no issues you going out and living life you like to, but blaming govt and tax system over here for your life is absurd.
Well said but Mufthkhor humans ( Indians on top of this list) think differently.
Personally, I am happy to pay higher taxes here than lower taxes in India or even no taxes in middle east., reasons are obvious and plenty. Money is not everything after all.
Issue is he is going out but will come back in old age to eat up from all the contributions we would have done all those years as I said mufth..
@San-hugo/bhootnath: It is simple logic, what one thinks is the best for self, one follows. Please don't be judge-mental, after all when we left our country to come to Canada we also betrayed our birthplace where our past generations had worked had to make our lives better.
Probably a 2nd+ generation Canadian has the right to say that, but they don't seem to mind it. 
@Amvk: Find happiness in whatever you do or wherever you settle. Best of Luck
Location: God's own country
Posted on: 24-02-14 01:46:18
Cd's,
I am surprised by some of the remarks in this thread of how you pay taxes to canada and canada takes care of you in return.
The Canadian system was formed with the idea of a person starting work at age 18 and get the max. CPP salary by age 25 or so and then work till age 65. Now CPP will give him 1/4th of his last drawn salary and then he will have GIS/OAS/ free medical/ company pension/ house/ saving to help him lead a decent life. Also the Canadian system (prior to 2009) helped the locals get very decent jobs.
For CD software engr's it is a smooth life even if they come to Canada at age 30-35. They buys a house, invest in India, have company pension etc..
For the rest (those who work in Timmies / supervisors), it will be a tough life for them after age 60 / 65, if they decide to live in Canada. I have done some calculations and found that it will not suffice. The best bet for them at that age would be to sell all their possessions and leave for their home country. A house has been one of the best returns for Canadians (CD's incl) in recent times.
Hope this helps some.
Peace by Murali
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