Hi,
I am planning to make a tentative yet serious return back to India. As a Canadian Citizen, I believe I will have to pay tax on worldwide income if i chose to remain a "resident' here for tax purposes.
Now my question is, how does the concept of taxation on worldwide income work? My impression is that I would pay tax in India, and would pay the differential-if any- in Canada.
Can anyone throw light on this issue?
Also is there any foreseeable potential benefit to be paying taxes in both countries? Like for example, if I have children in India would they be able to recieve child tax credits?
Your response will be appreciated.
On canadian return just show that your world wide income is less than 8000$
then you dont owe anytax.
Quote:
Originally posted by grasshopper
Also is there any foreseeable potential benefit to be paying taxes in both countries? Like for example, if I have children in India would they be able to recieve child tax credits?
When i was in USA i got the Child tax benefits and GST benefits.. But i had to fill a special application form and provide the valid reason why i was in usa.. But its really hard to get it once you are out of country... the only way you can get these benefits is to provide cra with canadian address and you file your tax return using canadian address,
Quote:
Originally posted by tigercanada
When i was in USA i got the Child tax benefits and GST benefits.. But i had to fill a special application form and provide the valid reason why i was in usa.. But its really hard to get it once you are out of country... the only way you can get these benefits is to provide cra with canadian address and you file your tax return using canadian address,
I was in US for 4 years.
Quote:
Originally posted by tigercanada
I was in US for 4 years.
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