OCI-Moved back home - What formalities are needed for Tax non residency ?
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Posted on: 26-06-17 23:45:31
Quote:
Originally posted by Full House
Just tell your friend in Dubai, it is just from me to you now, that his name is listed there in the Most wanted list on Canada's website and if he ever steps foot on to Canadian soil, there is a TRANSCANADA warrant for his ARREST with CBSA website. So, stay away from Canada and its airports too.
He did a 2 year MBA and took off. At that time the loan was around $ 50 K. Now with interest its probably more.
He was originally from Dubai, when he came here. Left a good job in Dubai to come here.
Couldn't get anything here, so was advised to do MBA here and take the Canadian education stamp. After MBA also like most immigrants he didn't get anything. So he thought he wasted his time and money ( albeit they were Student loans ) in getting the so called Cad education.
He was on PR then, not student visa. So waited a year more, took Canadian citizenship and Canadian passport and took off back to Dubai . Not just student loans, he also left behind some other unpaid credit card bills, cell phone bills , overdue rent and took off.
Now he is doing well in Dubai. Has a tax free salary and a free apartment from his employer. Some French engineering company in Dubai he is working for.
Will he have problems renewing his Canadian passport, when he goes to the Cad embassy in Dubai ? Or can they revoke his Citizenship or something ?
He travels to Europe frequently both for work and pleasure, the Cad passport sure comes in handy
Once a Canadian ALWAYS a Canadian.
DO NOT let the Passport Expire. 30 days prior to EXPIRY DATE, get it renewed for another 10 Years,
FH.
I can easily track him, even without knowing his name. So, please Keep it under your hat. Let him enjoy the Peaceful Life. fh.
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Quote:
Originally posted by pendse
Quote:
Originally posted by Full House
Just tell your friend in Dubai, it is just from me to you now, that his name is listed there in the Most wanted list on Canada's website and if he ever steps foot on to Canadian soil, there is a TRANSCANADA warrant for his ARREST with CBSA website. So, stay away from Canada and its airports too.
He did a 2 year MBA and took off. At that time the loan was around $ 50 K. Now with interest its probably more.
He was originally from Dubai, when he came here. Left a good job in Dubai to come here.
Couldn't get anything here, so was advised to do MBA here and take the Canadian education stamp. After MBA also like most immigrants he didn't get anything. So he thought he wasted his time and money ( albeit they were Student loans ) in getting the so called Cad education.
He was on PR then, not student visa. So waited a year more, took Canadian citizenship and Canadian passport and took off back to Dubai . Not just student loans, he also left behind some other unpaid credit card bills, cell phone bills , overdue rent and took off.
Now he is doing well in Dubai. Has a tax free salary and a free apartment from his employer. Some French engineering company in Dubai he is working for.
Will he have problems renewing his Canadian passport, when he goes to the Cad embassy in Dubai ? Or can they revoke his Citizenship or something ?
He travels to Europe frequently both for work and pleasure, the Cad passport sure comes in handy
Quote:
Originally posted by Full House
Once a Canadian ALWAYS a Canadian.
DO NOT let the Passport Expire. 30 days prior to EXPIRY DATE, get it renewed for another 10 Years,
FH.
I can easily track him, even without knowing his name. So, please Keep it under your hat. Let him enjoy the Peaceful Life. fh.
What do you mean you can easily track him ? You don't even know, who he is .
He didn't even bother to take OCI and cancel his Indian passport. From India he went to Dubai, then Canada and now back to Dubai.
Basically a Canadian citizen living in Dubai, with both Cad and Indian passport. He is not supposed to have Indian passport, but has it anyway.
He uses that to travel to India, so no visa required as he is a Cad citizen. And uses his Cad passport to travel to Europe. Smart guy.
You are getting warmer.. You must be living in India.
FH.
---
Quote:
Originally posted by pendse
Quote:
Originally posted by Full House
Once a Canadian ALWAYS a Canadian.
DO NOT let the Passport Expire. 30 days prior to EXPIRY DATE, get it renewed for another 10 Years,
FH.
I can easily track him, even without knowing his name. So, please Keep it under your hat. Let him enjoy the Peaceful Life. fh.
What do you mean you can easily track him ? You don't even know, who he is .
He didn't even bother to take OCI and cancel his Indian passport. From India he went to Dubai, then Canada and now back to Dubai.
Basically a Canadian citizen living in Dubai, with both Cad and Indian passport. He is not supposed to have Indian passport, but has it anyway.
He uses that to travel to India, so no visa required as he is a Cad citizen. And uses his Cad passport to travel to Europe. Smart guy.
Quote:
Originally posted by Full House
You are getting warmer.. You must be living in India.
FH
Huh ?
Forget warmer. Isn't June hot in Canada ?
In SHORT - This is all you do while leaving Canada.
- Make sure you do NOT have ANY PRIMARY ties to Canada. (no residence, no family members living in Canada)
- Close all your bank accounts (so that you do not have any taxable interest income that could be considered as "Canadian Source Income" )
- No need to EXPLICITLY close DL and Health Card. They will eventually expire and you will not use them once you are out of Canada (since they are valid only IN Canada).
- Better to close your trading account to prevent future hassles. Otherwise you need to inform your financial institution about your NR status so that the NR tax (25%) could be withheld from any gains on interests (as per the rules)
(This could be claimed on your foreign tax return for foreign tax credit)
- Last but NOT least, mention your DEPARTURE date on your tax return indicating that you are claiming a "Non Resident of Canada for tax purpose" status.
Good Luck!
Quote:
Originally posted by pendse
I am an OCI with Canadian citizenship and Canadian passport.
I have moved back to India permanently. No intention whatsoever of coming back to Canada permanently. I might come to visit Canada/USA once in 5-6 years as a tourist for sightseeing. But besides that no intention of settling or living in Canada or US.
So what forms or formalities or technicalities I need to complete so that I am deemed a non resident of Canada by CRA for tax purposes ? I mean what should I do so that CRA doesn't consider me to have residential ties with Canada ?
I am finding the whole residency & non-residency from CRA confusing.
Will I be an :
1. Emigrant ( don't confuse with Immigrant )
2. Non-Resident
3. Deemed Resident for tax purposes.
Some of the things I guess, I need to do are :
1. Sell my house & car.
2. Close my Drivers License
3. Close my Health Card.
4. Close my bank accounts. ( Can I keep 1 online account like Tangerine bank open ? )
5. Close my Canadian Credit cards.
6. Have already filed my 2016 Tax return. I don't have any taxes owing.
7. Close my RRSP, TFSA
8. Can I keep a Stock trading account like Questrade open ? Then I will also have to keep a corresponding Online bank account open like Tangerine.
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9. Any other forms I have to fill up ?
10. Any Departure tax I have to pay ?
11. Do I have to file a tax return for 2017 next year ?
I don't want to live in India peacefully and blissfully, and then receive something from Canada saying, they still consider me to be a Canadian resident for tax purposes
Quote:
Originally posted by cdn_dude
- Last but NOT least, mention your DEPARTURE date on your tax return indicating that you are claiming a "Non Resident of Canada for tax purpose" status.
Good Luck!
So if I am permanently leaving in 2017, when do I file that tax return ? In 2017 or 2018 ?
As the tax forms for 2017 will only be ready and available early next year from CRA. I believe in first week of Feb 2018 , the 2017 Tax forms & Packages will be ready.
I will be firmly settled in India by then. So should I file my Final & last taxes from India in 2017.
