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retired police officers pensions

retired police officers pensions

Old Dec 12th 2009, 2:23 pm
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Default retired police officers pensions

any retired uk police officers now in or going to canada?, I was wondering what/how you are doing to get your uk police pension paid to canada. I will find myself in this position soon and was wondering what options are open to me for my monthly income to reach me in canada. Thanks in advance
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Old Dec 12th 2009, 2:38 pm
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Default Re: retired police officers pensions

There are a few retirees on this board (not just police) - hopefully you will get some opinions and options added to your thread shortly.
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Old Dec 12th 2009, 5:21 pm
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Default Re: retired police officers pensions

Yep, OH will be one of those! You probably know about the not-moving-over-permanently-until-the-tax-free-lump-sum-is-in-the-bank scenario. Other than that, we don't have a plan as we aren't going for a couple of years. OH went to a PMS retirement seminar last week and 'forgot' to ask about monthly pension. He's going to ring them up and ask advice. Any info would be great for us as well.
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Old Dec 12th 2009, 5:24 pm
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Default Re: retired police officers pensions

Husband retires in March we move end of March, he is not landing until lump sum is in bank otherwise we were told we would have to pay cdn income tax on it, if it is recieved after landing..we too are still looking for best way to do it, at the moment he is leaving in UK acct and withdrawing on a as needed basis until we can think of something better to do.
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Old Dec 12th 2009, 6:47 pm
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Default Re: retired police officers pensions

Thanks for the early replies, the issue of taxing lump sum is causing me a bit of concern. I was looking to land early 2010 before lump sum, return immediate to uk to move over permanent in summer, so i would not have lump sum when I land but will have it when I reside permanently. I am confused re being landed and being resident and how that will affect any tax of lump sum. I am thinking it may be worth consulting with a lawyer and/or tax consultant, does anyone know a good lawyer or tax person in the london (uk) who they can recommend.

Thanks
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Old Dec 12th 2009, 6:52 pm
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Default Re: retired police officers pensions

I called revenue Canada, this is what they said.....

If you land and the money is in your account already and you activate PR you pay no tax in Canada on it....IF you activate your PR THEN recieve your lump sum you will pay canadian tax, b/c technically you are a canadian resident as you activated your PR. They don't care whether you live in Canada or not,....you landed...that's all they care......
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Old Dec 12th 2009, 9:11 pm
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Default Re: retired police officers pensions

Originally Posted by Cdnshaz
I called revenue Canada, this is what they said.....

If you land and the money is in your account already and you activate PR you pay no tax in Canada on it....IF you activate your PR THEN recieve your lump sum you will pay canadian tax, b/c technically you are a canadian resident as you activated your PR. They don't care whether you live in Canada or not,....you landed...that's all they care......
Is that really true? What about people that land and go back for a year or two before moving here to live - are they liable for tax on earnings before they arrive to live, surely they are not? I would assume that they could only tax you based on when you became resident and not when you landed. Maybe JonboyE will be along to clarify.
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Old Dec 12th 2009, 9:50 pm
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Default Re: retired police officers pensions

I would query this too. There can be a long gap between landing and actually taking up residence.

I understood that you were a tax resident when you permanently moved over here.

For example, we landed in December 06, but did not move until May 07. The tax office were not interested (in an earning capacity) on anything in between those dates before we officially lived here. (They did ask for previous earnings, however, when working out child tax credits etc, which is a different thing)

To the OP - maybe we are all confusing you - JonboyE is the man to ask. If he does not see this thread, perhaps send him a private message.

Edit - Robin the Gadget Family is waiting out her dates until she officially retires in order to be absolutely sure that lump sum does not get involved! PM her too.
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Old Dec 12th 2009, 10:09 pm
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Default Re: retired police officers pensions

Originally Posted by Cdnshaz
I called revenue Canada, this is what they said.....

If you land and the money is in your account already and you activate PR you pay no tax in Canada on it....IF you activate your PR THEN recieve your lump sum you will pay canadian tax, b/c technically you are a canadian resident as you activated your PR. They don't care whether you live in Canada or not,....you landed...that's all they care......
As everyone has said above, this is not correct. Being resident for immigration purposes is not the same as being resident for tax purposes. You become resident for tax purposes when you establish residential ties with Canada (a.k.a. moving here to live). Activating PR is evidence that you are establishing residential ties with Canada but, by itself, it is not conclusive evidence.

If you fly to Canada to activate your PR, have a short vacation, then return to your home and work in the UK then you do not become tax resident in Canada on landing and your lump sum will be safe.

During you vacation don't try to enroll in a provincial health plan, don't try and get a driving license, don't buy a house. In fact, don't buy anything that you are not taking back to the UK. Opening a bank account and applying for a SIN number should be OK, but if you want to be on the safe side don't do this either. Just do what a normal tourist would do.

This is the CRA's website ...http://www.cra-arc.gc.ca/tx/nnrsdnts...sdncy-eng.html

The person you spoke to at the CRA should really know better.
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Old Dec 13th 2009, 3:50 am
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Default Re: retired police officers pensions

We are not returning to UK, so in our case it sounds like she may have been correct.
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Old Dec 13th 2009, 1:50 pm
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Default Re: retired police officers pensions

Originally Posted by cinch
Thanks for the early replies, the issue of taxing lump sum is causing me a bit of concern. I was looking to land early 2010 before lump sum, return immediate to uk to move over permanent in summer, so i would not have lump sum when I land but will have it when I reside permanently. I am confused re being landed and being resident and how that will affect any tax of lump sum. I am thinking it may be worth consulting with a lawyer and/or tax consultant, does anyone know a good lawyer or tax person in the london (uk) who they can recommend.

Thanks
I responded to your PM before I saw this - basically this is fine. You will not be taxed on lump sum if in bank before you move over perm.
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