Hasni - just a thought - you have been advised a lot by TK and you do look forward to his advice it seems. How about his advice that you should come to Canada only if you can exploit the country for maximum benefits and cheat on taxes and take under the table money etc. etc.??
Since he seems to have seen more desis in Canada than anyone else on this forum, and since he is more concerned about Canada and this site than seems about his job and life in India, I think his advice should mean a lot to any new and aspiring immigrant.
Quote:
Originally posted by Hasni
Thanks TK and SS, but when it comes to worldwide, shouldn't it be net cuz you also pay taxes in countries where you live and earn this money from. What do you say!
I'll ask again...which form are you referring to?
In one of your earlier post you mentioned that you've already filled the forms for your benefits, so why are you asking now, or are you confirming if what you filled was right or wrong.
What you're doing is not rocket science (for someone who knows what they're doing), every new immigrant does that when they enter the country. If in doubt, I strongly suggest you seek the services of a professional. You'd rather be safe than sorry. Filling in something and then trying to fix it will probably cost you more.
Disclaimer: I'm not an expert in taxation.
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SS
Reiki Grand Master
Dear SS , absolutely I have already submitted my benefit claim application through a professional. But just want to learn and also double check if what my accountant has done is right, that's all. Yes it's the CCTB form I am talking about which only says "income" , so if someone here clarifies the point that I have raised...would not only help me but lot others who have yet to go through it. As far as I know there is a gross income and there is a net income, so when it comes to putting worldwide...it should be net income, that's what my heart says 
Dear Dropout, TK always shows us both sides of the coin and that's what I like in him most.
Location: God's own country
Posted on: 08-10-14 09:11:44
Hasni,
No. CRA also wants Gross income in world wide income but then you can put anything as it is voluntary and CRA will not ask for any documents to support that.
Murali The Krishna
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I am a Gents and not a Ladies.
And Hasni, please do remember, it is worldwide income - not only what you earned as salary. This should include your interest income on savings, your rental income if any, your stock trading income if any, et.c etc. etc. Why I am saying this that most people living in the ME are not required to file taxes in countries they are working so they tend to forget that they have other income too.
And a word of caution - when you file your tax return in Canada - in case you have assets over CAD 100,000 lying overseas (in canada it is simply termed as overseas property - but that includes cash/deposits/investments and not real estate only), do declare them and the income earned on those assets. Many people do not do it thinking they can hide it (as TK suggested in the post above) but with so many new laws for overseas income/assets, one might get a shock later!
Location: God's own country
Posted on: 08-10-14 13:30:14
Dropout:
What kind of shock are you expecting?
When you give advise to someone, you should back it up with facts.
Canada likes money and lots of money to be brought in. However, interest rates in Canada is only around 2% whereas in India is around 8% (OP is from Paksithan). Real estate grows faster in India than in Canada (our housing boom has moderated out). Germany does not charge tution fees for universities while Canada still does.
So what else?
Murali The Krishna.
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I am a Gents and not a Ladies.
Quote:
Originally posted by Dropout
Hasni - just a thought - you have been advised a lot by TK and you do look forward to his advice it seems. How about his advice that you should come to Canada only if you can exploit the country for maximum benefits and cheat on taxes and take under the table money etc. etc.??
Since he seems to have seen more desis in Canada than anyone else on this forum, and since he is more concerned about Canada and this site than seems about his job and life in India, I think his advice should mean a lot to any new and aspiring immigrant.
Whats the problem with you dude ?
Why are you so much bothered about TK ( or any one for that matter ).
Why don't you focus on what you contribute on to the forum rather than ridiculing others ...
Every one is free to share thoughts on the forum .... it is the readers choice whether they subscribe or not .
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Fido.
