dinger24

So I am staying until its in the bank! I cant afford to waste thousands for the sake of a couple of months, we have waited this long!
Dam sure I earned the cash so I aint giving it up easily!

singingringingtree

Think we will as well. We will look into what makes a perm res for tax purposes and not for tax purposes .. but we will probably take the safest option.

Robbie500

Canadian residency for tax purposes for residency is quite simple really. You can have permanent residency whilst living in the UK but you are not liable for Canadian Tax. However as soon as there some form a permanence: ie you buy a house and your family move to Canada you will liable for Canadian tax even though your are working in the UK and your family live in Canada. You will be taxed on your worldwide income. If your family are here in Canada;your lump sum will also be liable for tax. Unless you invest it all in an RSSP, which the Canadian Tax authorities will allow you to do. This happened to me . My family were here and I stayed in the UK until retired from the police force.

Proved quite costly as I put my money in RRSP just as the markets crashed in this current turmoil. If you don't need the money now and need to move (because the quality of life is goo here) and you can afford to invest in an RRSP do so, but the exachnge rate is so bad at the moment it would be better to wait until the money is in the bank in the UK and then move to Canada