Go Back  British Expats > Living & Moving Abroad > Canada > Immigration & Citizenship (Canada)
Reload this Page >

**** Dual citizenship under review ****

**** Dual citizenship under review ****

Old Nov 18th 2006, 6:04 am
  #46  
Thread Starter
 
Joined: May 2004
Posts: 8,984
Andrew Miller is an unknown quantity at this point
Default Re: **** Dual citizenship under review ****

Taxation of Canadian citizens on global income regardless of residency is one of discussed matters. But implementing it similarly to US, where they have USD 80,000 foreign income exclusion, will not solve anything as majority of Canadians living abroad live in developing countries where they rarely exceed the exclusion level.

Originally Posted by dimon237
This is NOT a Citizenship issue. This is TAXATION issue. All Canada would have to do is enact a Tax Law similar to the States, where you pay tax on global income regardless of your residency. This way, if you want to have Canadian citizenship, pay tax, if not, give up your passport. Simple as that. Dual citizenship has nothing to do with it, and is a much more complex issue then an indicator of love or not to Canada.
Andrew Miller is offline  
Old Nov 18th 2006, 6:26 am
  #47  
Forum Regular
 
Joined: Jul 2004
Posts: 105
dimon237 is an unknown quantity at this point
Default Re: **** Dual citizenship under review ****

Originally Posted by Andrew Miller
Taxation of Canadian citizens on global income regardless of residency is one of discussed matters. But implementing it similarly to US, where they have USD 80,000 foreign income exclusion, will not solve anything as majority of Canadians living abroad live in developing countries where they rarely exceed the exclusion level.
I agree, that's a detail they'll have to look into. I just mentioned the States because of the difference between US and Canada in taxation related to residency. I just think it would be fair to everybody this way. There could be no complains on where I live, if I pay Canadian tax like everybody else.
dimon237 is offline  
Old Nov 18th 2006, 8:11 am
  #48  
JAJ
Retired
 
JAJ's Avatar
 
Joined: Apr 2004
Posts: 34,649
JAJ has a reputation beyond reputeJAJ has a reputation beyond reputeJAJ has a reputation beyond reputeJAJ has a reputation beyond reputeJAJ has a reputation beyond reputeJAJ has a reputation beyond reputeJAJ has a reputation beyond reputeJAJ has a reputation beyond reputeJAJ has a reputation beyond reputeJAJ has a reputation beyond reputeJAJ has a reputation beyond repute
Default Re: **** Dual citizenship under review ****

Originally Posted by dimon237
I agree, that's a detail they'll have to look into. I just mentioned the States because of the difference between US and Canada in taxation related to residency. I just think it would be fair to everybody this way. There could be no complains on where I live, if I pay Canadian tax like everybody else.
Note that US taxation of citizens overseas only covers federal tax, not state tax. It would be completely inappropriate to subject Canadians overseas to provincial tax as well, because they do not generally use provincially delivered services.

The other point to bear in mind is that they would have to give credit for foreign taxes on the same income, otherwise Canadians overseas would be put under serious financial stress by paying taxes twice.

In the end, it would catch a few super-rich Canadians overseas, cause a lot of hassle for other Canadians, and not raise very much in $$$ compared to the size of the government treasury.
JAJ is offline  
Old Nov 18th 2006, 8:53 am
  #49  
BE Forum Addict
 
MarkG's Avatar
 
Joined: Apr 2005
Location: Saskatoon, Saskatchewan
Posts: 4,106
MarkG has a reputation beyond reputeMarkG has a reputation beyond reputeMarkG has a reputation beyond reputeMarkG has a reputation beyond reputeMarkG has a reputation beyond reputeMarkG has a reputation beyond reputeMarkG has a reputation beyond reputeMarkG has a reputation beyond reputeMarkG has a reputation beyond reputeMarkG has a reputation beyond reputeMarkG has a reputation beyond repute
Default Re: **** Dual citizenship under review ****

And it would make Canadian citizenship as much of a liability as American citizenship; the Americans even passed a law to hassle rich people who renounce American citizenship because they don't see why they should pay millions of dollars in taxes to a country they don't live in...
MarkG is offline  
Old Nov 18th 2006, 9:52 am
  #50  
Forum Regular
 
Joined: Jul 2004
Posts: 105
dimon237 is an unknown quantity at this point
Default Re: **** Dual citizenship under review ****

All true, in fact I think the way it is right now is just fine. All I'm saying abolishing dual citizenship is crazy. I mean if paying tax twice is unfair, having to give up Canadian citizenship or choose business vs. Canadian citizenship is just terrible. And I would imagine alot of people would just hide the fact that they have another citizenship
dimon237 is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Contact Us - Manage Preferences Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Your Privacy Choices -

Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.