Canadian Non-Resident

[broken_legs]

Wondering if any beyonders have left the country and changed their status to 'Canadian Non Resident'.

I'm looking at something similar and need some advice.


Thanks

[Chandler_Racing]

Is it for tax purposes, or something else?

[broken_legs]

Originally posted by Chandler_Racing
Is it for tax purposes, or something else?

I'd be moving from Canada, living and working abroad so I would like my tax situation to reflect my residency situation.

[KappaSigma]

You have to cut all ties, primary and secondary. IE sell your Canadian house (or rentals), vehicles, etc.

[Chandler_Racing]

Originally posted by broken_legs


I'd be moving from Canada, living and working abroad so I would like my tax situation to reflect my residency situation.

Are you willing to sell your primary residence (or sign a tenant for a long term contract so that the home is not avali for use?), do you have a spouse, common law, or dependent still in Canada? These are considered primary factors and must be severed in order to be considered non resident (when you depart).

Other things to consider are memberships, bank accounts, health care, etc. which are secondary considerations. You want to minimize these where possible, but no single secondary factor has been used to establish residency - rather it will be determined on a case by case basis.

One thing to consider, is that in the event you have severed all residencial ties, you could be subject to taxation (=FMV) on assets held as CRA assumes these assets were disposed of.

[e31]

Originally posted by KappaSigma
You have to cut all ties, primary and secondary. IE sell your Canadian house (or rentals), vehicles, etc.

This. A relative made the mistake of keeping a single 1/4 section of farmland, and was ordered to pay back taxes on 10 years worth of salary made in the Middle east. Not pretty:eek:

[oogaboogie]

My dad is a non resident... He's been with these guys for 12+ years:
http://www.expat.ca/main/page.php?page_id=1

They deal with everything from top to bottom. Just be sure to do your own due diligence as well.

[civic_ek4]

Not that hard to do.

BUT yea cutting your ties is a bit tricky, I have maintain my bank account, RRSP and driver's license.

They will try to reject you but if you are marrying a non-canadian, have a child or bought a home else where then these will move things a lot faster.