Urgent: need a police clearance certificate for the work visa or the work permit???
-
Recently Browsing 0 members
- No registered users viewing this page.
-
Topics
-
-
Popular Contributors
-
-
Latest posts...
-
6,866
-
96
KPlus is now almost useless to me after 4 years without issues they impose this on me
I'm with Bangkok Bank Always been a daily limit of 50,000. No limit on transfers in from overseas. I just transfer on two separate days to my wife. -
85
UK Chaos at Bell Hotel: Migrant Crisis Sparks Violent Protests in Epping
Did the newest British Sweetheart Elen Degenerate and other show up on either side? Wonder if it's dawning on her yet? Please keep her lads, we don't want her back. -
34
What is the tax treaty between Canada and Thailand?
I have been continuing me examination of the Canada-Thailand Double Tax Agreement (DTA) trying to understand some of the 'ins-and-outs' in regards to a Canadian expatriate living full time in Thailand. For Canadian expatriates, who are living in Thailand, and who are Thailand tax residents, and who are not Canada tax residents, but for whom there may be a requirement or consideration to file a Canadian income tax return, I note the following is from my research. Please note that I am not a tax advisor, so take this with a grain of salt and apply your own judgement here, as I could be wrong: = = = Canadian Tax Filing for Non-Resident Canadians in Thailand in regards to Canadian derived Capital Gains A Canadian expatriate living in Thailand who is a tax resident of Thailand and not a tax resident of Canada, but who maintains a Canadian brokerage account, may still be required to file a Canadian tax return. This typically occurs when they receive Canadian-source income, such as Old Age Security (OAS), Canada Pension Plan (CPP) payments, or RRSP/RRIF withdrawals. Although Canada does not tax a non-resident’s global income, if a Canadian tax return (T1) is required, the CRA typically asks that Schedule D (Information About Your World Income) be completed. This allows CRA to determine the correct tax rate to apply on the Canadian-source income being reported). Capital Gains from a Canadian Brokerage Account For a Canadian, even as a non-resident to Canada, Canadian brokerages are required to issue a T5008 slip to the CRA when securities are sold. However, for Canadian individuals who have been non-residents of Canada for more than six consecutive years, capital gains from the sale of most publicly traded shares are generally not taxable in Canada. This is due to Article 13(6) of the Canada–Thailand Tax Treaty, which allows Canada to tax such gains only if the individual was a Canadian tax resident at any time in the six years prior to the sale. If the person has not been a Canadian resident at any time in the past six years, then under Article 13(5), Thailand has the exclusive right to tax these capital gains — and Canada has no taxing rights on those gains from typical securities. If a Canadian tax return is being filed for other reasons (such as to report Old Age Security (OAS), Canada Pension Plan (CPP) payments, or RRSP/RRIF withdrawal incomes), it is often a good practice to: Report the capital gain on Schedule 3 (Capital Gains or Losses) in the Canadian tax return; Ensure the capital gain is included in the global income reported on Schedule D of the Canadian tax return Claim a matching deduction on Line 25600 (Additional deductions) of the T1 main Canadian tax return form, if applicable (for example if a non-resident to Canada for more than 6 years), referencing that the gain is exempt from Canadian tax under Article 13(5) and 13(6) of the Canada–Thailand Tax Treaty; And include a brief, one-page explanatory letter with the tax return submission to the CRA, outlining the treaty position and confirming that the expatriate individual has not been a Canadian resident during the six-year lookback period. Again, this is my opinion, and I believe this helps ensure clarity and minimizes the risk of CRA inquiries, especially since T5008 slips are automatically reported. Once again, please note that I am not a tax advisor, so take this with a grain of salt and apply your own judgement here as to whether you believe necessary to file a Canadian tax return, or whether to include any Canadian sourced stock capital gains on any such Canadian tax return, or whether you have other ways to approach the tax reporting. -
106
-
17
Crime Woman Arrested for Running Teen Trafficking Ring Behind Udon Thani Karaoke Bar
Full of bugs silly......🤣
-
-
Popular in The Pub
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now