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Search: Posts Made By: JonboyE
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Mar 25th 2024, 5:13 pm
Replies: 7
Views: 247
Posted By JonboyE

Re: FREE WILLS on offer - Is there a catch?

I am not surprised that a revised will costs nearly as much as the original will. Much of the same work is involved. Many lawyers will do pro bono work but the above doesn't sound right to me.
...
Forum: Canada
Mar 22nd 2024, 4:32 pm
Replies: 33
Views: 2,664
Posted By JonboyE

Re: Should I move to Canada or Not?

The other day I came across a UK equivalent to Realtor.ca. I was looking at a part of South London where I lived for while. It is the sort of area you live in because it is all you can afford...
Mar 22nd 2024, 4:17 pm
Replies: 15
Views: 723
Posted By JonboyE

Re: The next election

Thank you. I was worried I had missed something.

A bit of history. When the Liberals won power in 1993 they faced a huge deficit left by the Mulroney government. One of the actions the...
Mar 21st 2024, 5:03 pm
Replies: 15
Views: 723
Posted By JonboyE

Re: The next election

What was his position on housing that was 100% right?
Forum: Canada
Mar 15th 2024, 10:20 pm
Replies: 4
Views: 459
Posted By JonboyE

Re: CRA and UK premium bonds

Occasional winnings from gambling and lotteries are not included in income in Canada. This can change if the winnings become part of a pattern of income, when you could be deemed to be in the...
Forum: Canada
Mar 7th 2024, 10:05 pm
Replies: 33
Views: 2,664
Posted By JonboyE

Re: Should I move to Canada or Not?

But, apart from that ...
Forum: Canada
Mar 5th 2024, 8:01 pm
Replies: 33
Views: 2,664
Posted By JonboyE

Re: Should I move to Canada or Not?

You may end up materially better off in Canada. Lots of people do. Especially people who are prepared to do whatever it takes. That said, I don't think that people who immigrate from other first...
Forum: Canada
Mar 5th 2024, 6:02 pm
Replies: 9
Views: 556
Posted By JonboyE

Re: Taxes and LTD

Not necessarily. If the insurance company withheld tax, or knows the payments are taxable, they should issue a T4A slip. If you don't get a T4A slip you will have to determine whether or not the...
Forum: Canada
Mar 4th 2024, 4:08 pm
Replies: 9
Views: 556
Posted By JonboyE

Re: Taxes and LTD

The general rule is that if the LTD premiums are paid (100% paid) by the employee, and the employee has not claimed any tax deduction for the premiums, then the benefits are tax free. If the employer...
Mar 2nd 2024, 6:40 pm
Replies: 0
Views: 174
Posted By JonboyE

Imm 5532

This is probably a "newbie" question, and I am hardly that, so apologies if the answer is obvious.

Previous advice on this forum is not to leave blank fields on immigration forms. Imm 5532 asks...
Forum: Canada
Mar 1st 2024, 5:33 pm
Replies: 23
Views: 1,439
Posted By JonboyE

Re: Move from UK to Vancouver - can I afford it?

The basic combined federal and provincial tax rate in BC is 20.06%. This is on income up to $48k. With the personal tax allowances the tax on $70k is $11,533 or an effective rate of $16.48%. There...
Forum: Canada
Mar 1st 2024, 5:28 pm
Replies: 23
Views: 1,439
Posted By JonboyE

Re: Move from UK to Vancouver - can I afford it?

I think this is a fair summary. $70k will give you roughly $4,475 a month after tax. A one bed apartment in Vancouver costs over $2,500 a month these days, up to $3,000 downtown, so you will have...
Forum: Canada
Feb 17th 2024, 6:53 pm
Replies: 15
Views: 1,886
Posted By JonboyE

Re: Brit debating taking job offer in Canada!

I have never lived in Toronto so my opinion has limited relevance, but I do live somewhere equally expensive. It is all very subjective, and mostly depends on what you want to spend money on. It...
Forum: Canada
Feb 17th 2024, 6:45 pm
Replies: 4
Views: 640
Posted By JonboyE

Re: Income tax on UK work pension

You may be able to claim a pension income tax credit. It it $2,000 on line 31400 of the federal return (at 15% so worth $300). You will have to check what your province allows.
Forum: Canada
Feb 14th 2024, 4:04 pm
Replies: 3
Views: 462
Posted By JonboyE

Re: Transferring UK workplace pension to another UK pension scheme

In theory, yes.

Canadian pension funds have a protocol that allows them to transfer money from one fund to another. They report the transfer to the CRA. You also have to report the withdrawal...
Forum: Canada
Feb 14th 2024, 12:30 am
Replies: 3
Views: 462
Posted By JonboyE

Re: Transferring UK workplace pension to another UK pension scheme

Second one about SIPPs today! A SIPP does not meet the definition of a pension fund in Canadian law so the CRA treat it just like any ordinary savings and investment account. If you move funds from...
Forum: Canada
Feb 13th 2024, 10:52 pm
Replies: 9
Views: 1,648
Posted By JonboyE

Re: Tax obligations, UK citizen in Canada

That is not correct. A SIPP is very definitely reported on the T1135 form. Income and gains within a SIPP are taxable in Canada and should be reported on your tax return.
Forum: Canada
Feb 7th 2024, 5:11 pm
Replies: 43
Views: 4,076
Posted By JonboyE

Re: Cost of Living

I think the "no Canadian experience" trope is often an excuse used by job seekers who have not make sufficient effort to show an employer they are the best candidate for the job. You say your friends...
Forum: Canada
Feb 6th 2024, 12:50 am
Replies: 5
Views: 767
Posted By JonboyE

Re: Accountant moving to canada!

ICAEW or ACCA are wonderful qualifications. That said, if I was looking for someone to prepare my Canadian tax return I would choose someone who is qualified to do so.
Forum: Canada
Jan 30th 2024, 10:40 pm
Replies: 5
Views: 767
Posted By JonboyE

Re: Accountant moving to canada!

A few thoughts:

AAT is not really recognized. Your best bet is to enrol as a student in the CPA program. You might get some credits for your AAT passes. There are good courses in tax and business...
Forum: Canada
Jan 6th 2024, 1:00 am
Replies: 5
Views: 986
Posted By JonboyE

Re: Moving to Canada but freelancing for UK company

I don't necessarily agree with this.

The 183 day rule is a deeming rule, it does not change whether or not you are factually resident, or non-resident, in Canada for tax purposes.

The question...
Forum: Canada
Jan 5th 2024, 4:56 pm
Replies: 2
Views: 469
Posted By JonboyE

Re: Legally work in Canada with Work Permit and do business in UK

I would be cautious about taking HMRC's advice about Canadian tax matters. They will tend to give advice that maximizes the UK's tax take. The OP should check the CRA's position on whether the OP's...
Forum: Canada
Jan 4th 2024, 7:23 pm
Replies: 2
Views: 729
Posted By JonboyE

Re: Jon Boy please

Yes. https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/pension-income-splitting/eligible-pension-income.html
Forum: Canada
Jan 2nd 2024, 4:10 pm
Replies: 10
Views: 1,214
Posted By JonboyE

Re: Need a bit of advice!

The UK does not recognize an RRSP as a tax-sheltered account. If you are tax-resident in the UK, and hold an RRSP, it is taxed as a regular savings account so any income or capital gain within the...
Forum: Canada
Dec 28th 2023, 6:49 pm
Replies: 6
Views: 474
Posted By JonboyE

Re: Home Will kits

Unfortunately, the successor holder designation only applies to a spouse/common-law partner. If the stepkids are your beneficiaries the funds in the TFSA will be added to your estate.
Showing results 1 to 25 of 1000
 


 
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