Almost Canadian

He is telling porkies and is, likely, not declaring it.

I received a medical discharge from the Army and, as such, both pensions I receive are "tax free" in the UK. I declare them and pay tax on them in Canada. There is no way around this. I hope CRA catches up with him.

getoutofbritainquick

I agree with you totally, he is a lot wealthier than me but isn't that ther way they tend to obtain wealth?

Lamin

With all this in mind then can anybody predict a worse case scenario. I know there are certain factors, like how much you earnt that year, off setting it against wifes income etc etc.

But if we said a basic figure of £50, 000 how much of that would you begrudgingly have to hand over to the CDN tax man?

Appreciate any answers before I run of to the Philipines etc!!!!

getoutofbritainquick

For £50, 000 lump sum X Current exchange rate, and if pension splitting 50/50, wifes marginal tax rate + your marginal tax rate (this is also likely to put both your marginal tax rates into a higher range) = Worst case scenario £50, 000 x exchange rate X 43% for BC

Lamin

If thats right, Philipines it is then!!!