What are the tax consequences for non-residents of Canada who become residents of Canada during the year?
Allan Madan, CA
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)
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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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