Yes dp_jain it really depends on how well you put your case forward, as there is no proper definition of 'Residential ties' in their Articles. Diferent interpretations are applied to different cases. As long as you can convince Income Tax dept. that you were away from Canada, they do not trouble you. It helps if you can prove that there was no acoount activity in your bank accounts and no claims were made on your health card.
Again I don't think this will be an issue as I have also seen this in many similar cases involving people who migrated here from the Gulf.
Ciao.
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goldie
The very premise that a person became a PR or citizen also means that he/she is subject to taxation of worldwide income , regardless.
bank account . OHIP , licence are all considered 'ties'.
a lot of people land and go back without realizing that tey are obliged to declare worldwide income from the day they have landed.
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Non illigitamus carborundum
Dear all,
The views of CD members on this topic are varied. Do you think I should ask for an advance ruling from CRA or "take it as it comes"?
Rgds,
newboyo
Quote:
Originally posted by newboyo
Dear all,
The views of CD members on this topic are varied. Do you think I should ask for an advance ruling from CRA or "take it as it comes"?
Rgds,
newboyo
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Chandresh
Advice is free – lessons I charge for!!
"Hiding" is possible - but not preferred eg - how does one explain an inward transfer of a sum, in case one wants to buy a property or a business or make an investment. A review of account statement will reveal just what has happened.
My view is - tax management is my birthright but tax evasion is a strict no-no.
My request for advise re advance ruling is really to figure out if any other CDs have done so and what their experience been.
rgds,
newboyo
Dear All
I have almost similar situation. Please guide me.
- Obtained PR cards for self, wife and one year old son in August 2006.
- Returned back to India after staying there for around 40 days.
- Getting child tax benefit every month.
- Got G-1 for self, SIN and PR Cards for all members. OHIP not applied for.
- Returning to Canada in April 2007.
I am open to disclosing my Indian income and file return.
I have two questions:
1. Do I need to pay taxes in Canada when I am already being taxed in India?
2. When I tell them that I am in India, will they stop the Child Tax Benefit?
Please help!!
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There is no pleasure in having nothing to do; The fun is in having lots to do and not doing it.
Goldie,
I had landed in 2003, and returned back this year.
Do I have to give any specific explanation why my world income should not be taxed, when I file the return for 2006.
Regards
Chetan
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