Canadian citizen back home: tax question
#1
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I've returned home to Canada, and am wondering about whether I need to file an income tax return.
-lived in UK from age 17 until last August, never paid tax in Canada
-since returning, haven't worked and have lived off savings and been a full time student
-my partner (who I sponsored) sold our house and got all the money for it into her account in January
According to the guide booklet, I shouldn't have to. My father isn't sure but wonders if it's worth doing just to get me 'on the grid'.
I received a slip from HSBC (I have accounts here and in the UK) saying I had an 'Arm's length interest payment' of $62.01.
Is it worth doing/do I have to do it for 2012? The wiki doesn't seem to have an answer.
-lived in UK from age 17 until last August, never paid tax in Canada
-since returning, haven't worked and have lived off savings and been a full time student
-my partner (who I sponsored) sold our house and got all the money for it into her account in January
According to the guide booklet, I shouldn't have to. My father isn't sure but wonders if it's worth doing just to get me 'on the grid'.
I received a slip from HSBC (I have accounts here and in the UK) saying I had an 'Arm's length interest payment' of $62.01.
Is it worth doing/do I have to do it for 2012? The wiki doesn't seem to have an answer.
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You should file a return. If you were a student in 2012 you will have tax credits. Download a T2202A from the college's website. You can carry the credits forward to use in future years. If you don't file a return you will lose them.
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Okay, thanks!
Pretty much the rest of the main forms will be blank anyway, right?
Pretty much the rest of the main forms will be blank anyway, right?
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Do I have to declare my UK income January - August 2012?
This comment on the wiki:
...suggests that I don't, as this is my first ever tax return (so I'm only now becoming a 'tax resident'), and the UK income stopped when I moved back.
Thanks!
This comment on the wiki:
In the year that you become a tax resident of Canada, the Canadian government taxes you only on the income that you've earned after after becoming a tax resident of Canada.
Thanks!
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You only report non-Canadian income earned after your moved back to Canada to live.
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Thanks again for your help. I tried to use StudioTax but as it's my first filing I can't use NETFILE. So, just copied all the stuff across onto the paper forms from StudioTax instead.
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