What are the tax consequences for non-residents of Canada who become residents of Canada during the year?

Question:
I am a non-resident of Canada living and working in Canada. However, I became resident of Canada half way through the year (eg. My family moved to Canada, I sold my principal residence in foreign country and bought a primary residence in Canada, etc). What are my tax implications?

Answer:
You will be responsible for filing a non-resident tax return from January 1 – the date in which you became a resident of Canada. In this return, you will only be responsible for paying Canadian tax on income from Canada (e.g. Wages from Canadian employer)

ABOUT THE AUTHOR

ALLAN MADAN

CA.CPA.CGA

Allan Madan is a CPA, CA and the founder of Madan Chartered Accountant Professional Corporation. Allan provides valuable tax planning, accounting and income tax preparation services in the Greater Toronto Area.

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