Taxes in Canada (and US)
Oct 9th 2005 | 10:56 am
#1
Thread Starter
Forum Regular
Joined: Apr 2004
Posts: 175
Taxes in Canada (and US)
Hi,
The old story..could nto get a job in Canada...got a job in the US. The family is staying back in Toronto though. About taxes...on an earning of 60,000 US how much tax should i expect to pay in Canada. Also I have to pay taxes in the US...so i guess I only pay the difference in taxes t Canada. ANy idea how much is the federal tax in the US? I am in Arizona..so the state taxes to come up to about 3%..hoep i have got it right.
Thanks in advance.
The old story..could nto get a job in Canada...got a job in the US. The family is staying back in Toronto though. About taxes...on an earning of 60,000 US how much tax should i expect to pay in Canada. Also I have to pay taxes in the US...so i guess I only pay the difference in taxes t Canada. ANy idea how much is the federal tax in the US? I am in Arizona..so the state taxes to come up to about 3%..hoep i have got it right.
Thanks in advance.
Oct 9th 2005 | 11:20 am
#2
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Joined: Sep 2002
Posts: 941
From: Pickering, ON
Re: Taxes in Canada (and US)
Originally Posted by moving
Hi,
The old story..could nto get a job in Canada...got a job in the US. The family is staying back in Toronto though. About taxes...on an earning of 60,000 US how much tax should i expect to pay in Canada. Also I have to pay taxes in the US...so i guess I only pay the difference in taxes t Canada. ANy idea how much is the federal tax in the US? I am in Arizona..so the state taxes to come up to about 3%..hoep i have got it right.
Thanks in advance.
The old story..could nto get a job in Canada...got a job in the US. The family is staying back in Toronto though. About taxes...on an earning of 60,000 US how much tax should i expect to pay in Canada. Also I have to pay taxes in the US...so i guess I only pay the difference in taxes t Canada. ANy idea how much is the federal tax in the US? I am in Arizona..so the state taxes to come up to about 3%..hoep i have got it right.
Thanks in advance.
Taxes are the one big drawback to being a US citizen living outside the country. You still have to pay no matter where you live, something Canada doesn't do.
Oct 9th 2005 | 11:39 am
#3
Thread Starter
Forum Regular
Joined: Apr 2004
Posts: 175
Re: Taxes in Canada (and US)
Hi,
Thnaks. Pity is that I have a legal residence in Canada since the spouse and kid are there and she also has a house...
So, roughly how much would I ahve to pay in Canada...
Thnaks. Pity is that I have a legal residence in Canada since the spouse and kid are there and she also has a house...
So, roughly how much would I ahve to pay in Canada...
Originally Posted by sysclp
It is a sliding scale in the US based on income minus deductions. You would be in the 20 or 25% range but that is before taking out all your deductions. Canada only taxes you if you legal residence is there, so if you aren't living there you don't pay them. Doesn't matter where your family lives, just where you live.
Taxes are the one big drawback to being a US citizen living outside the country. You still have to pay no matter where you live, something Canada doesn't do.
Taxes are the one big drawback to being a US citizen living outside the country. You still have to pay no matter where you live, something Canada doesn't do.
Oct 9th 2005 | 11:48 am
#4
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Joined: Sep 2002
Posts: 941
From: Pickering, ON
Re: Taxes in Canada (and US)
Originally Posted by moving
Hi,
Thnaks. Pity is that I have a legal residence in Canada since the spouse and kid are there and she also has a house...
So, roughly how much would I ahve to pay in Canada...
Thnaks. Pity is that I have a legal residence in Canada since the spouse and kid are there and she also has a house...
So, roughly how much would I ahve to pay in Canada...
Oct 9th 2005 | 12:12 pm
#5
Guest
Posts: n/a
Re: Taxes in Canada (and US)
Originally Posted by sysclp
Canada only taxes you if you legal residence is there, so if you aren't living there you don't pay them. Doesn't matter where your family lives, just where you live.
Get help or expect to be seriously out of pocket..... residency, double tax relief and overseas employment relief are complicated subjects and you are likely to make mistakes by yourself.
Oct 9th 2005 | 12:50 pm
#6
Now on Vancouver Island
Joined: Feb 2005
Posts: 6,935
From: Nanaimo, British Columbia, Canada
Re: Taxes in Canada (and US)
Originally Posted by sysclp
Canada only taxes you if you legal residence is there, so if you aren't living there you don't pay them.
Residency status
You're considered a factual resident of Canada for tax purposes if you keep residential ties with Canada while travelling or living abroad.
If you also establish residential ties in a country with which Canada has a tax treaty and you're considered to be a resident of that country for the purposes of that tax treaty, you may be considered a deemed non-resident of Canada for tax purposes.
What are residential ties?
Residential ties include:
Other ties that may be relevant include:
For more information, please see IT-221, Determination of an Individual's Residence Status.
If you would like an opinion about your residency status, please complete and submit Form NR73, Determination of Residency Status (Leaving Canada).
You're considered a factual resident of Canada for tax purposes if you keep residential ties with Canada while travelling or living abroad.
If you also establish residential ties in a country with which Canada has a tax treaty and you're considered to be a resident of that country for the purposes of that tax treaty, you may be considered a deemed non-resident of Canada for tax purposes.
What are residential ties?
Residential ties include:
Other ties that may be relevant include:
For more information, please see IT-221, Determination of an Individual's Residence Status.
If you would like an opinion about your residency status, please complete and submit Form NR73, Determination of Residency Status (Leaving Canada).
