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Forum: Canada

Apr 18th 2017, 8:53 pm

Replies: 66

Cashing in final salary pension.

Views: 11,142

Posted By Aviator

Re: Cashing in final salary pension.

Depends who you ask and their hourly rate. We pay something like $150 to $400 an hour depending if it is one of the juniors or a partner doing the work.

What they cost is irrelevant, it is the...

Forum: Canada

Apr 6th 2017, 9:56 pm

Replies: 66

Cashing in final salary pension.

Views: 11,142

Posted By Aviator

Re: Cashing in final salary pension.

So long as you have a certificate of foreign tax paid it should be able to be claimed on a T1 return at the end of the year in Canada as a foreign tax credit. If you don't have an accountant, I would...

Forum: Canada

Apr 6th 2017, 9:38 pm

Replies: 66

Cashing in final salary pension.

Views: 11,142

Posted By Aviator

Re: Cashing in final salary pension.

As a Canadian tax resident, your liability should be to Canada. If you pay tax in the UK, with the appropriate receipts of tax paid, you would only pay any difference that is owed to CRA.

Forum: Canada

Apr 5th 2017, 11:38 pm

Replies: 66

Cashing in final salary pension.

Views: 11,142

Posted By Aviator

Re: Cashing in final salary pension.

You may be right. What matters though if living in Canada, is CRAs determination on this. UK rules as far as Canadian tax go are irrelevant to Canadian tax payers. The pension fund would have no idea...

Forum: Canada

Apr 5th 2017, 9:53 pm

Replies: 66

Cashing in final salary pension.

Views: 11,142

Posted By Aviator

Re: Cashing in final salary pension.

Cashing in a pension fund, once outside of a protected fund, if you are a Canadian tax resident, it becomes reportable income no matter what country it is in. Once you receive the funds, holding GBP...

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