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Old Aug 27th 2007, 10:59 pm
  #16  
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Default Re: Financial advise

Originally Posted by destinationnovascotia
I am sure that I read somewhere that in a off shore account there was no tax payable in either Canada or the UK. Is this correct please?
Hi, in Canada, tax is payable on World-wide income. It is not illegal to have an offshore account but it is illegal not to pay the tax on any gains.
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Old Aug 28th 2007, 3:22 am
  #17  
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Default Re: Financial advise

Originally Posted by johnh009
Hi, in Canada, tax is payable on World-wide income. It is not illegal to have an offshore account but it is illegal not to pay the tax on any gains.
What johnh009 says. If you are tax resident in Canada you are taxed on your world wide income including all gains and interest received or receivable.
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Old Aug 28th 2007, 5:58 am
  #18  
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Default Re: Financial advise

http://www.financialwebring.com

Best site for those who want to manage their own money, unbiased advice from some very informed people.

I frequent that site.

Non Commercial.
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