Do it in first year in Canada-my lessons learned (tax, health insurance)
Mar 16th 2018, 2:26 am
#1
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Do it in first year in Canada-my lessons learned (tax, health insurance)
Hi guys
After 3 years in Canada as a PR (in NS) I thought I will share two major lessons learned (major for me at least) around healthcare and taxes.
First off all you can apply for individual private healthcare plan (incl. dental) straight after arriving from the UK as a PR and get WAITING PERIODS WAIVED (usually 3-6 months). SImply as BlueCross in my example, recognizes public NHS free healthcare as kind of continuoity of your health insurance here and if you aplly for their plan WITHIN 60 days of leaving the UK, you can all the benefits from day one. The same then will apply if you switch beetween service providers (again based on my experience with Bluecross), I was with them first, then got employer group plan and now again priviat eplan with them, no waiting periods. And you can get 80% cover just for $70/month. I found it very beneficial as I use naturopath, accupuncture, massage all that kind of stuff a lot and dentist if I necessary. At the end of tax year you can deduct from taxes medical expenses -spent over $2000 (in NS), and funny enough they allow you to even include wellbeing weekend retreat run by registered health professional (and they will direct bill to your insurer). So really good stuff.
Second lesson learn for me was actually today, when I discovered the importance of filing Tax Return for the first year in Canada, even if you didn't work. It's actually mandatory and there is a line on the form to enter your arrival date. I only sent my "zero" value Tax Return for 2015 (my first year in Canada in which I didn't work) today. The reason being is that I learned that I am entitled to GST/HST tax credit for that year (which would have been paid in 2016)
More on Canada Revenue website:
MOre on tax credit on Revenue Canada website:
If you are a new resident of Canada and you want to apply for the GST/HST credit, complete Form RC151, GST/HST Credit Application for Individuals Who Become Residents of Canada, for the year that you became a resident of Canada. Also, see Pamphlet T4055, Newcomers to Canada. To get the form and the pamphlet, visit the CRA Forms and publications page.
Sorry for spelling I am too tired to correct it ;-) almost midnight!
After 3 years in Canada as a PR (in NS) I thought I will share two major lessons learned (major for me at least) around healthcare and taxes.
First off all you can apply for individual private healthcare plan (incl. dental) straight after arriving from the UK as a PR and get WAITING PERIODS WAIVED (usually 3-6 months). SImply as BlueCross in my example, recognizes public NHS free healthcare as kind of continuoity of your health insurance here and if you aplly for their plan WITHIN 60 days of leaving the UK, you can all the benefits from day one. The same then will apply if you switch beetween service providers (again based on my experience with Bluecross), I was with them first, then got employer group plan and now again priviat eplan with them, no waiting periods. And you can get 80% cover just for $70/month. I found it very beneficial as I use naturopath, accupuncture, massage all that kind of stuff a lot and dentist if I necessary. At the end of tax year you can deduct from taxes medical expenses -spent over $2000 (in NS), and funny enough they allow you to even include wellbeing weekend retreat run by registered health professional (and they will direct bill to your insurer). So really good stuff.
Second lesson learn for me was actually today, when I discovered the importance of filing Tax Return for the first year in Canada, even if you didn't work. It's actually mandatory and there is a line on the form to enter your arrival date. I only sent my "zero" value Tax Return for 2015 (my first year in Canada in which I didn't work) today. The reason being is that I learned that I am entitled to GST/HST tax credit for that year (which would have been paid in 2016)
More on Canada Revenue website:
MOre on tax credit on Revenue Canada website:
If you are a new resident of Canada and you want to apply for the GST/HST credit, complete Form RC151, GST/HST Credit Application for Individuals Who Become Residents of Canada, for the year that you became a resident of Canada. Also, see Pamphlet T4055, Newcomers to Canada. To get the form and the pamphlet, visit the CRA Forms and publications page.
Sorry for spelling I am too tired to correct it ;-) almost midnight!
Last edited by Anna Maria; Mar 16th 2018 at 2:31 am.
Mar 16th 2018, 3:56 am
#2
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Joined: Dec 2005
Posts: 88,020
Re: Do it in first year in Canada-my lessons learned (tax, health insurance)
I have moved your thread from the Immigration forum into the main Canada forum.
Please note BE Immigration forums are for discussions about Visas/Citizenship only. Immigration & Citizenship (Canada) - British Expats
Country specific threads should be posted the Main/General Forum for that country ie Canada...Canada - British Expats
General chit chat about Canada should be posted in the Maple Leaf forum. The Maple Leaf - British Expats
If you have a question please open a new thread in the relevant forum...rather than hijacking an existing/old thread.
If you are unsure please contact a mod for guidance.
Thank you.
Please note BE Immigration forums are for discussions about Visas/Citizenship only. Immigration & Citizenship (Canada) - British Expats
Country specific threads should be posted the Main/General Forum for that country ie Canada...Canada - British Expats
General chit chat about Canada should be posted in the Maple Leaf forum. The Maple Leaf - British Expats
If you have a question please open a new thread in the relevant forum...rather than hijacking an existing/old thread.
If you are unsure please contact a mod for guidance.
Thank you.
Last edited by Jerseygirl; Mar 16th 2018 at 4:02 am. Reason: Typo
Mar 16th 2018, 4:14 am
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Re: Do it in first year in Canada-my lessons learned (tax, health insurance)
ok
Mar 17th 2018, 5:47 pm
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Joined: Jun 2013
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Re: Do it in first year in Canada-my lessons learned (tax, health insurance)
Good to know about private health insurance cost.
I’ve got mine through my benefits as a full time employee but if I leave and become casual I need dental, travel insurance etc.
$70 a month isn’t too bad if you get acupuncture included - not all plans include acupuncture.
I’ve got mine through my benefits as a full time employee but if I leave and become casual I need dental, travel insurance etc.
$70 a month isn’t too bad if you get acupuncture included - not all plans include acupuncture.
Mar 17th 2018, 6:32 pm
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Mar 18th 2018, 12:57 am
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