Tax problems after immigrating to Canada

# Canada Immigration # Introduction Before understanding the tax problems of Canadian immigrants, you must first confirm whether you have become a formal Canadian tax resident. Let me introduce you to the tax issues after immigrating to Canada. Welcome to read!

Article 1 Tax issues after emigrating to Canada

1. Tax residents in Canada are also divided into "long boarding" and "short boarding" 1 and long boarding.

I plan to live, work and live there for a long time after landing in Canada. New immigrants have been permanent residents of Canada since they first arrived in Canada, and this date is the same as the date when they became tax residents of Canada.

2. Short board

If a new immigrant only stays in Canada for a short time when he first arrives in Canada, and has not established a major residence relationship in Canada with the Inland Revenue Department, such as applying for government medical insurance and milk money, then he is not a Canadian tax resident.

Second, the main differences between tax residents and non-tax residents in Canada

1, Canadian tax resident

Its global income must be declared and taxed to the Canadian government.

2. Non-Canadian tax residents

You only need to declare your income tax in Canada. Without these incomes, there is no need to declare taxes to the Canadian government.

It should also be noted that many people will continue to hold their previous overseas assets after becoming Canadian residents. Therefore, the Canadian Immigration and Taxation Bureau clearly stipulates the calculation of the market value on the day you become a Canadian resident, which is the so-called assumed cost. The advantage of this is that some capital gains accumulated before immigration are not taxed in Canada!

Therefore, in order to declare overseas assets in the future, the applicant should collect evidence in advance to support this hypothetical cost as the basis for calculating capital gains when declaring overseas assets and selling them.

Further reading: the cost of investing in Canadian immigrants

Quebec investment immigration costs:

1. If the net assets exceed10.6 million Canadian dollars, fully invest 800,000 Canadian dollars (about 4.5 million RMB) in the fund designated by the Canadian government, which will be returned without interest after 5 years.

2. If the net assets exceed 6.5438+0.6 million Canadian dollars, and the loan investment is 220,000 Canadian dollars (about 6.5438+0.2 million RMB), it will be paid directly to the fund designated by the Canadian government without refund.

Manetho Pakistan Investment Immigrant Expenses:

The legal family net worth is 350,000 Canadian dollars (about 6.5438+0.95 million RMB). After emigration, they will invest not less than 6.5438+0.5 million Canadian dollars (about 850,000 RMB) to set up enterprises in Manitoba province.

Saskatchewan investment immigration costs:

The legal family net worth is 300,000 Canadian dollars (about 6.5438+0.7 million yuan), and after immigration, the investment in Saskatchewan is not less than 6.5438+0.5 million Canadian dollars (about 850,000 yuan) to start a business.

PEI investment immigration expenses:

The legal family net assets are 600,000 Canadian dollars (about 3.3 million RMB), and the minimum investment cost is 6,543,800 Canadian dollars (about 850,000 RMB).

NB province investment immigration costs:

The minimum asset requirement is 300,000 Canadian dollars (about 6.5438+0.7 million RMB), and the minimum investment cost is 6.5438+0.25 million Canadian dollars (about 700,000 RMB).

Notarization fee: it varies according to different personal materials.

Audit fee: Generally, the fee standard of audit report is five-year audit 1 1,000 yuan to 1 1,000 yuan.

Real estate appraisal fee: generally around 4000 yuan.

Physical examination fee: about RMB 0/400 for adults and RMB 0/400 for children in 850 yuan.

The application fees vary from province to province, taking Quebec as an example.

Quebec application fee: Principal applicant: 3850 Canadian dollars, about 26950 RMB.

Spouse and children over 22 years old: 150 Canadian dollars, about 1050 RMB.

Children under 22: 150 Canadian dollars, or about 1050 RMB.

Fees paid after the application is approved:

1. Landing fee: the main applicant: 490 Canadian dollars, the spouse: 490 Canadian dollars, and the children are not charged.

2. Maple Leaf Card (permanent residence card) fee: 50 Canadian dollars per person, about RMB 350 yuan.

Note: The fee is based on the price announced by the Immigration Bureau at the time of occurrence and the exchange rate at that time.