Wednesday, February 22, 2012

Canadian Income tax laws with regards to Non Resident Canadians (There is no double taxation)

#Canadian-tax-laws:

 * NRCs (Non Resident Canadians) ---> Those who have no residential ties with Canada and stay in Canada for less than 183 days in the tax year. They are taxed ONLY on their income from Canadian sources. NO NEED to pay taxes on income (salary) from outside Canada - this rule is to avoid double taxation.

 * However, RCs (Resident Canadians) are taxed on their world-wide income.

Jolly good! If one is employed abroad, no need to worry about paying taxes in Canada all over again! (But there shall be loss of provincial health coverage).

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