Canadian Taxes

[mok199]

hi i am a newly retired canadian now living in pattaya,i am looking for help and advice with my taxes....i am paying 25% on my pension income,can this be reduced or eliminated,and any advice on accountants that are familiar with my situation...

[gerry53]

Not much information to give an intelligent answer.

Have you been deemed a non resident of Canada yet?

How long have you been out of country?

Do you still have ties with Canada? (Provincial drivers license, banking, real estate etc.)

The CRA (Canada Revenue Agency) can get their hooks into your money if you are deemed or volunteer you are a non resident icluding withholding 25% on proceeds of real estate sales. Tax rates on income are also higher on pensions and income than if you are a "non resident" which is incredible because you are not there to use the services.

This in my opinion is why most Canadians only leave Canada for less than 6 months every year. Their provincial health care is also another concern.

Edited September 15, 2012 by gerry53

[mok199]

thanks for the fast response..i have been retired since sept 2010..i have not applied for nonres(havnt filled out the nr5,as suggested by cra) but i have taken time to sever all ties with canada, ,,have although spoken with an account that specializes in nonres clients he is in montreal,and he has suggested i begin to pay taxes here,then(he assures me)we can move forward and claim my with holing taxes when we file each year.....i am hoping to get some advice from another canadain who has been throught this,as each country has different aggrements....

[Rimmer]

Lets try this in jobs economy banking business investments forum where someone might know the answer to your questions.

[Gone]

I'm a Canuck and had my dad come here at age 80 and died at 84 here and his pension checks from his RBC account in canada were directly deposited in his Thai account (SCB) as I had arranged it with him in Canada when I went to get him with his RBC bank.

I am not sure what the Government was deducting for taxes but I do know that he could NOT get his gross pensions sent here then pay taxes in Thailand so the answer is NO you will not get any tax break here.

As you know (and the main reason I left Canada) is that our government is even more corrupt then Thailand. They do not play well when someone wants tax break. I am an Engineer in the Oil industry and sometimes have gone back to do a quick job and even though on the tax forms we fill out before we start work has a box to check saying "tax exempt" they still make you pay the taxes on every cheque and it is up to me to claim it back on my tax return.

Sorry for the bad news but you will just need to budget yourself on the pension you are receiving. If you plan on doing tax returns every year then that means that you have NOT cut off all ties with Canada as you must have an address to get your T-4's mailed to. The Government is very crafty. That said, you can still claim your income tax if you get your T-4's mailed to you here and do it online however you will also need a Bank account back in Canada for them to deposit your returns in. Another reason it is difficult to "cut all ties" with Canada (although I did 12 years ago)

[saxo06c2]

Hi,

Maybe I missed some information, but why do you need any information about taxes?

You have got a retiremennt peymant, it comes to your bank account to Canada or Thailand,

I think it doesn't matter, and you are living in Thailand as a kingfrom your money, because the living in Thailand is very cheap.

Do you want to run a business?

Best regards,

Jack

[David006]

lots of info on CRA web site...use NR4? form to apply for tax reduction for non residents..once approved valid for 5 years

[mok199]

ok how about this......has any canuck out their ever used section 217 and the nr5 to reduce his tax at source...????...i am interested to know how much the with holding tax was reduced....and a reply to the individual who responded with a coment of''why bother you get a cheque and why bother you live like a king''...oh forget it..... a coment like that deserves no reply...

[toastie]

Hi,

Maybe I missed some information, but why do you need any information about taxes?

You have got a retiremennt peymant, it comes to your bank account to Canada or Thailand,

I think it doesn't matter, and you are living in Thailand as a kingfrom your money, because the living in Thailand is very cheap.

Do you want to run a business?

Best regards,

Jack

Clearly "Jack" is short for "J---ass"