business in your home country

Old Apr 9th 2005, 1:43 am
  #1  
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Default business in your home country

What if you still have a business in your home country and you are currently a permanent resident in Canada:

How will you receive your income from your business, through bank transfer or any other means?

Will Canada tax you on your earnings you get from your home country?
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Old Apr 9th 2005, 3:59 am
  #2  
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Default Re: business in your home country

Good question, I kinda have the same problem. It depends a lot on which country you are from. For example if you're form the USA or Mexico the NAFTA agreement would allow you to pay taxes in your home country only and not cdouble tax...Anyways I'm no expert I would really like to know from someone in this situation.
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Old Apr 9th 2005, 4:06 am
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Default Re: business in your home country

You must report income from all sources on your Canadian tax return. Depending from tax treaty between Canada and your home country you may be able to claim credit for taxes paid there, thus offset your tax liability in Canada. Consult international taxation expert.

Originally Posted by mcdo_60102
What if you still have a business in your home country and you are currently a permanent resident in Canada:

How will you receive your income from your business, through bank transfer or any other means?

Will Canada tax you on your earnings you get from your home country?
Andrew Miller is offline  

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