Dear Canadian Desi members,
I've joined CD site recently. Me & my wife will be Landing in Toronto mid Aug-08. I have gone thru the links & messages but need to have some info about the SIN card procedure.
We are going from New Zealand, for 3 weeks to complete the landing procedure & plan to settle permanently in Canada in summer 2009. Can anyone pls tell me, if we apply for SIN card, then do we have to pay income tax for our income in NZ (We still are working here in NZ)?
Thanks for all the imp info which you all have posted in this site.
Hi !
This is a grey area and I personally dont feel comfortable to discuss this on public board .. If interested pls send me your mail ID and I can send u more info ..
AG
ashwani72 at hotmail dot com
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Quote:
Originally posted by Sansam
Can anyone pls tell me, if we apply for SIN card, then do we have to pay income tax for our income in NZ (We still are working here in NZ)?
No. Just because you have landed as a PR and have a SIN card (but do not live in Canada), you do not have to pay income tax on your NZ income.
Make sure that you do not have a bank accounts or any income (including the bank interest/dividend) from any cdn source. In fact, there is no advantage of applying for the SIN card - you can get it after you come to Canada to settle permanently.
Hi cdn_dude,
I opened a bank account with $ 1000 and returned to India. After reading your reply, I am worried. Should I pay any tax when I come back to Canada?
Quote:
Originally posted by Barasume
Hi cdn_dude,
I opened a bank account with $ 1000 and returned to India. After reading your reply, I am worried. Should I pay any tax when I come back to Canada?
Are you getting any (significant) interest on it? I doubt it - considering the principle amount. If you do not have any other ties to Canada and any income from Canada, I wouldn't worry about it. But I would close that account, if not using it.
Thanks for the clarification. Hope to return soon and use the account.
Location: God's own country
Posted on: 03-07-08 13:21:19
Quote:
Originally posted by Barasume
Thanks for the clarification. Hope to return soon and use the account.
Barasume,
No need for you to come and close the account. Some Banks allow you to close online while others will close it through a phone call and send the balance to an address in Canada at your request. However, you may need to use a long distance phone call for the same. Try this option instead of wasting money / going out of the way to come here personally to close the account.
Hope this helps.
Peace
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