20 19 Canadian immigration tax policy

# Canadian Immigrants # Introduction Canada implements a three-level tax system at the federal, provincial (or territorial) and local levels. The federal and provincial governments each have relatively independent tax legislative power, and the local tax legislative power is given by the province. The provincial tax legislative power cannot violate the federal tax legislative power. Canada is a country with federal and local decentralization. Here is a brief introduction to the tax policy of 20 19 Canadian immigrants. Welcome to read!

At the federal level, personal income tax is the main factor, supplemented by social security tax and goods and services tax; At the provincial level, personal income tax and commodity service tax are the main ones, supplemented by social security tax; Local taxes are mainly property taxes.

individual income tax

Individual residents: Canada's income tax is collected by the federal government and provincial or regional governments. Canadian residents must pay income tax according to their income in various countries in the world. Non-Canadian residents need to pay taxes in Canada as long as they have the following income or gains in Canada. The "taxable income" of individual income tax in Canada is divided into four categories: wage income, business income, investment income and capital income. Federal personal income tax is subject to excessive progressive tax rate. The higher the taxpayer's income, the higher the tax rate.

Federal tax rate 20 19:

$47,630 or less 15%

20.5% above $47,630 to $95,259

Above 95,259 USD to 65,438 USD+047,667 26%

29% higher than $ 147667 to $2 10 and 37 1.

33% higher than $22 10 and 37 1.

Provincial or regional tax rate 20 19:

Non-resident individuals: Non-operating investment income of non-resident individuals from Canada is usually withheld and remitted by the payer in Canada according to 25% of the total income (unless otherwise agreed between Canada and some countries).

business tax

Goods and Services Tax (GST): (Federal GST or Unified Sales Tax HST+ Provincial Sales Tax PST)

Similar to the value-added tax in China, if the annual turnover of an enterprise is less than 30,000 Canadian dollars, there is no need to register, otherwise 5% GST will be added to each sales or service fee.

The tax rates in Canada vary from 0% to 8% (﹙PST﹚).

industrial and commercial income tax

Resident enterprise: an enterprise established in Canada according to law or with its main management and control institutions in Canada. Resident enterprises should pay federal enterprise income tax and provincial enterprise income tax on income from global sources.

Non-resident enterprises only tax the income from their business activities in Canada or the capital gains obtained by transferring certain types of assets in Canada.

Taxable income: the taxable income of an enterprise is the sum of all the net income obtained by the enterprise from investment, operation, property transfer and other activities, and 50% of the net income obtained by the enterprise from capital transfer inside and outside Canada.

Dividend income: Dividends obtained by private enterprises and public enterprises from Canadian taxable enterprises or Canadian resident enterprises can usually be deducted when calculating enterprise income tax. Enterprises usually need to pay income tax when they obtain dividends from overseas enterprises, but dividends obtained by enterprises from overseas subsidiaries are allowed to be deducted when calculating enterprise income tax.

Capital gains: the capital gains are included in the total income of the enterprise according to 50% of the amount incurred and the balance after deducting the allowable capital losses, and the enterprise income tax is calculated and paid at the general tax rate.

Loss compensation: losses incurred by an enterprise in its production and operation activities can be carried forward to the previous year for 3 years or to the next year for 20 years. Capital loss can be carried forward to the previous year for a period of three years, or it can be carried forward to the next year indefinitely.

Tax rate: the basic tax rate of federal enterprise income tax is 38% of taxable income, 28% after federal tax reduction, and 15% after general tax reduction. The net tax rate of private small and low-profit enterprises controlled by Canada is 10%.

There are two kinds of provincial income tax rates: lower tax rate and higher tax rate. The lower tax rate applies to income that meets the federal small business deduction. A higher tax rate applies to all other income.

Tax declaration and credit deduction

Canada implements an "automatic declaration" tax declaration system, and taxpayers have the responsibility to declare all their income to the tax bureau and calculate their own taxes. Taxpayers have the responsibility to keep financial and tax information for six years in case the tax bureau asks for inspection at any time.

When calculating Canadian tax, there can be dozens of tax credits, such as "personal basic credit", and 20 19 years is 12069 Canadian dollars; There are also "senior citizen credit, spouse or cohabiting partner credit, qualified dependant credit" and so on.

Further reading: preparation for immigration application in Canada

Make an accurate self-assessment and make a reasonable plan.

Applicants should make full use of the relevant provisions of the immigration law according to their own background and situation, and make full use of their own conditions to formulate immigration plans. Determining the application direction is the most basic key step to success, otherwise, rushing into battle and inadequate preparation may directly lead to the failure of the application.

In fact, not only immigrants from Quebec, Canada, but also immigrants from other provinces in Canada need accurate assessment. Therefore, if the applicant does not know enough about Canada's investment immigration policy, I suggest looking for a professional immigration agency for evaluation and analysis. Time is pressing at present. Applicants must contact the Immigration Bureau as soon as possible and try to submit their applications as soon as possible.

Second, prepare complete and high-quality application materials.

In the process of applying for an investment immigration program in Quebec, Canada, the applicant needs to make it clear that the visa officer doesn't know you, and you can't tell the truth from the truth just by looking at your appearance. Only when the applicant comes up with practical and effective evidence can he be strongly persuaded. Therefore, the quality of the application materials directly affects the success or failure of the application.

A set of high-quality immigration application materials should not only reflect the applicant's good professional skills and excellent comprehensive quality, but also meet the basic requirements of the immigration bureau. To get rid of the false, big and empty phenomena in the application documents, the authenticity of the documents is very important! The visa officer will only approve the application for investment immigration in Quebec, Canada after evaluating that the applicant is telling the truth.

Third, pay attention to the dynamics of the Canadian embassy.

After sending the application materials, you will begin a long waiting process. You may not have to do anything in this process, and you will receive the medical examination form and get the visa soon. It may also go through supplementary materials, immigration interviews and other links. The quality of these jobs is directly related to the result of the application. Paying close attention to the application progress of peers in time is also very helpful to grasp their own status.

Fourth, make full preparations before the interview.

Before interviewing investment immigrants in Quebec, Canada, we must make all preparations to avoid incomplete information and affect the interview process and the interviewer's impression. In addition, I remind investors that visa officers do not have the same legal quality as judges, and will judge the applicant's situation by subjective consciousness. If the interview needs to be rescheduled due to the negligence of the applicant, it may have an impact on the immigration progress.

Try to learn the local language.

Quebec, Canada, has a low threshold for investment immigration and no mandatory language requirements. However, in previous cases, the success rate of applicants who have mastered French or English will be greatly improved. In addition, if the applicant reaches the intermediate level of French, he will not be limited by the quota of 1330, and can submit an application at any time. In the application process, if you have a beautiful language report card, it will be of unexpected help to the application. And learning English or French well is also good, at least after landing in Canada, you can better integrate into local life.