加拿大報稅 你問我試答（2）
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thanks again想請教下如果拎咗PR立即拎晒香港啲MPF使唔使交稅？
There are a few issues here.
You became a citizen then you left Canada and declare non-resident
When you leave Canada, you are deemed to dispose all your assets.
You have to pay taxes on the gain between the original cost minus the price on the day you leave Canada. However, you can still hold the stock and sell it later and calculate the portion of gain/loss subject to Canadian tax.
When you return to Canada, depending on how long and whether you still have ties to Canada during your absence. Your non-resident claim may be subject to review by CRA.
Many astronaut were caught because they have their family in Canada but claimed non-resident status. There were cases where the family income (mostly interest) were lower than their property taxes and yet they can afford to send their kids to private school and drive fancy cars etc.
You became a citizen then you left Canada and declare non-resident
When you leave Canada, you are deemed to dispose all your assets.
You have to pay taxes on the gain between the original cost minus the price on the day you leave Canada. However, you can still hold the stock and sell it later and calculate the portion of gain/loss subject to Canadian tax.
When you return to Canada, depending on how long and whether you still have ties to Canada during your absence. Your non-resident claim may be subject to review by CRA.
Many astronaut were caught because they have their family in Canada but claimed non-resident status. There were cases where the family income (mostly interest) were lower than their property taxes and yet they can afford to send their kids to private school and drive fancy cars etc.
I am not familiar with MFP.
See if this give you an idea.
http://chinahkcanada.com/immigration-tax-issues/taxes-before-after-moving/
3. I have been contributing to the pension scheme in Hong Kong, namely MPF. Is that taxable in Canada when I withdraw my MPF pension?
a) Still a non-resident when MPF is withdrawn
If you are still a non-resident of Canada at the time of withdrawal of your MPF, it is NOT taxable in Canada. And for individuals who are immigrating to Canada, as well as for returning Canadians, the best option is to withdraw all your accrued benefits in your MPF account, if you can.
More details may be found "Early Withdrawal of MPF".
b) Resident status when MPF is withdrawn
If you are already a resident at the time your MPF is withdrawn or for some good reasons you could not withdraw your MPF before moving to Canada.
Note that Canadian residents are taxable, under subparagraph 56(1)(a)(i) of the Act, on pension benefits in the year of receipt. This applies to benefits from a foreign pension plan that are attributable to services rendered while the individual was not a resident of Canada. Therefore, the periodic amounts and the lump sum payment from the Hong Kong pension plan will be taxable in Canada. In this case, your MPF is taxable in the year it's withdrawn.
Reference: Canadian Tax Interpretation.
Nevertheless, foreign pension plans that meets the criteria from 60(j)(i) can be transferred into an RRSP. The mechanism is that the lump sum is included as taxable income in the year it’s withdrawn from the foreign pension but, by depositing it to an RRSP, the person receives a deduction against the income inclusion. If your foreign pension is eligible and everything is done correctly, tax is deferred until the year(s) your RRSP is withdrawn.
4. What about payments from annuities?
As mentioned above, benefits from a foreign pension plan is taxable in the year of receipt. Therefore, yes, any payment from foreign annuities is taxable.
See if this give you an idea.
http://chinahkcanada.com/immigration-tax-issues/taxes-before-after-moving/
3. I have been contributing to the pension scheme in Hong Kong, namely MPF. Is that taxable in Canada when I withdraw my MPF pension?
a) Still a non-resident when MPF is withdrawn
If you are still a non-resident of Canada at the time of withdrawal of your MPF, it is NOT taxable in Canada. And for individuals who are immigrating to Canada, as well as for returning Canadians, the best option is to withdraw all your accrued benefits in your MPF account, if you can.
More details may be found "Early Withdrawal of MPF".
b) Resident status when MPF is withdrawn
If you are already a resident at the time your MPF is withdrawn or for some good reasons you could not withdraw your MPF before moving to Canada.
Note that Canadian residents are taxable, under subparagraph 56(1)(a)(i) of the Act, on pension benefits in the year of receipt. This applies to benefits from a foreign pension plan that are attributable to services rendered while the individual was not a resident of Canada. Therefore, the periodic amounts and the lump sum payment from the Hong Kong pension plan will be taxable in Canada. In this case, your MPF is taxable in the year it's withdrawn.
Reference: Canadian Tax Interpretation.
Nevertheless, foreign pension plans that meets the criteria from 60(j)(i) can be transferred into an RRSP. The mechanism is that the lump sum is included as taxable income in the year it’s withdrawn from the foreign pension but, by depositing it to an RRSP, the person receives a deduction against the income inclusion. If your foreign pension is eligible and everything is done correctly, tax is deferred until the year(s) your RRSP is withdrawn.
4. What about payments from annuities?
As mentioned above, benefits from a foreign pension plan is taxable in the year of receipt. Therefore, yes, any payment from foreign annuities is taxable.
Sorry少少離題
我黎左加拿大3個月 有 credit score 交過3次卡數
學生 所以你無 income
申請amex卡fail左
有無咩tricks可以搞搞 好想要張卡
我黎左加拿大3個月 有 credit score 交過3次卡數
學生 所以你無 income
申請amex卡fail左
有無咩tricks可以搞搞 好想要張卡
did you try other credit card?
Also amex? No
I called them and asked thé reason of rejection
They said it’s about the credit report
I called them and asked thé reason of rejection
They said it’s about the credit report
無
等下就有， 我本地fg 等咗3-4個月。
meanwhile, 其他卡準時交卡數， 唔好碌爆卡， total utilization ratio 唔好多過 30%
等下就有， 我本地fg 等咗3-4個月。
meanwhile, 其他卡準時交卡數， 唔好碌爆卡， total utilization ratio 唔好多過 30%
仲有你地成日講有 credit score, 以爲自己比攞個print out 有600 幾就係。
揾經紀租私人樓就夠用，其他真正要credit approval 申請 信用卡，租apartment 就唔夠喇
揾經紀租私人樓就夠用，其他真正要credit approval 申請 信用卡，租apartment 就唔夠喇
好似香港同加拿大有tax treaty 關於MPF 部分
政府規定 formula 係o甘計， 譬如你呢2個禮拜gross income $8000 ， 扣稅就係當你今年總收入係 8000 X 26 扣 payroll deduction，話之你年頭幾個月 0 收入 （舉例）
相關表格：
CRA form T1213 Request to Reduce Tax Deductions at Source
新移民 “做唔夠一年” 好似唔係容減許少deduction理由，你可以試下
但如果你而家即刻走去買 RRSP，應得退稅就可以係理由扣少d。
相關表格：
CRA form T1213 Request to Reduce Tax Deductions at Source
新移民 “做唔夠一年” 好似唔係容減許少deduction理由，你可以試下
但如果你而家即刻走去買 RRSP，應得退稅就可以係理由扣少d。
如果我阿媽想比零用錢我洗，係咪都要打稅？如果要，有乜辦法避得到/比少啲？
加拿大冇gift tax（好似係
just keep the documents to prove the money are from your parents.
No tax
No tax
https://turbotax.intuit.ca/tips/tax-tip-if-i-give-cash-to-my-kids-is-it-tax-deductible-in-canada-5081#:~:text=Canada%20has%20no%20gift%20tax,while%20you%20are%20still%20here.
Cash to My Kids, Is It Tax Deductible in Canada?
TurboTax Canada
March 22, 2021
|
1 Min Read
Canada has no gift tax, so you can give your children as much money as you like, it is not taxable as income or deductible as an expense. Helping your children is a great way to reduce your estate while you are still here.
However, if you gift any property that is not considered your principal residence, it will be subject to capital gains. Which is based on the fair market value when you gift it. Example: Purchase price $400,000, the FMV of the home upon gifting is $600,000. You will then be subject to capital gains on $200,000 at 50% of that amount. So you will pay tax on $100,000. For more detailed information on Inheritance Tax Laws, review this link from TurboTax.
Related articles
Cash to My Kids, Is It Tax Deductible in Canada?
TurboTax Canada
March 22, 2021
|
1 Min Read
Canada has no gift tax, so you can give your children as much money as you like, it is not taxable as income or deductible as an expense. Helping your children is a great way to reduce your estate while you are still here.
However, if you gift any property that is not considered your principal residence, it will be subject to capital gains. Which is based on the fair market value when you gift it. Example: Purchase price $400,000, the FMV of the home upon gifting is $600,000. You will then be subject to capital gains on $200,000 at 50% of that amount. So you will pay tax on $100,000. For more detailed information on Inheritance Tax Laws, review this link from TurboTax.
Related articles
https://taxinterpretations.com/cra/severed-letters/2014-0522671e5
19 March 2014 External T.I. 2014-0522671E5 - HK Pension and Tax Treaty
Email this ContentEmail this Content
CRA Tags
56(1)(a)(i) Treaties Article XVIII
View modes
Text of Severed Letter(active tab)
Summaries
Principal Issues: Whether receipts from a Hong Kong pension plan are taxable in Canada under the Canada-Hong Kong Tax Convention?
Position: Yes.
Reasons: Art. 17 of the Tax Convention allows Hong Kong to tax amounts from pensions (including lump sums) arising in Hong Kong, but this does not eliminate Canada's right to tax the same amounts.
XXXXXXXXXX
2014-052267
P. Tsang
March 19, 2014
Dear XXXXXXXXXX:
Re: Canadian Tax Treatment of Pension Amounts from Hong Kong
This letter is in reply to your correspondence of March 4, 2014 regarding the Canadian tax treatment of amounts from a Hong Kong pension plan. In particular, you accrued benefits under a pension plan for services rendered while you were employed by the Hong Kong government. You have since immigrated to Canada. This year you will meet the age requirement to start receiving periodic amounts in addition to a lump sum payment from this pension plan. You asked whether the periodic amounts and the lump sum payment will be taxable in Canada.
This technical interpretation provides general comments about the provisions of the Income Tax Act (the "Act") and related legislation (where referenced). It does not confirm the income tax treatment of a particular situation involving a specific taxpayer but is intended to assist you in making that determination. The income tax treatment of particular transactions proposed by a specific taxpayer will only be confirmed by this Directorate in the context of an advance income tax ruling request submitted in the manner set out in information circular (IC)70-6R5, "Advance Income Tax Rulings".
The Act generally defines a "superannuation or pension plan" to be a plan where contributions have been made to the plan by or on behalf of an employer or former employer of an employee in consideration for services rendered by the employee and contributions are used to provide an annuity or other periodical payment on or after the employee's retirement in consideration for his or her employment services. Our comments are based on the assumption that the Hong Kong pension plan to which you have referred to fits within this definition.
According to Article 17 of the Canada-Hong Kong Tax Convention (the "Tax Convention"), pensions (including lump sums) arising from Hong Kong and paid to a resident in Canada may be taxable in Hong Kong. This, however, does not eliminate Canada's right to tax the same amounts.
Canadian residents are taxable, under subparagraph 56(1)(a)(i) of the Act, on pension benefits in the year of receipt. This applies to benefits from a foreign pension plan that are attributable to services rendered while the individual was not a resident of Canada. Therefore, the periodic amounts and the lump sum payment from the Hong Kong pension plan will be taxable in Canada.
The Act and the Tax Convention do provide measures to reduce or eliminate the double taxation of income. In general, you may be entitled to claim a foreign tax credit. Income Tax Folio S5-F2-C1, "Foreign Tax Credit", provides Canada Revenue Agency's ("CRA") general views on the computation of the foreign tax credit. You may wish to refer to this publication which may be found on the CRA website at http://www.cra-arc.gc.ca/tx/tchncl/ncmtx/fls/s5/f2/s5-f2-c1-eng.html.
We trust that our comments will be of assistance to you.
Yours truly,
Lita Krantz, CPA, CA
for Director
Deferred Income Plans Section II
Financial Industries and Trusts Division
Income Tax Rulings Directorate
Legislative Policy and Regulatory Affairs Branch
19 March 2014 External T.I. 2014-0522671E5 - HK Pension and Tax Treaty
Email this ContentEmail this Content
CRA Tags
56(1)(a)(i) Treaties Article XVIII
View modes
Text of Severed Letter(active tab)
Summaries
Principal Issues: Whether receipts from a Hong Kong pension plan are taxable in Canada under the Canada-Hong Kong Tax Convention?
Position: Yes.
Reasons: Art. 17 of the Tax Convention allows Hong Kong to tax amounts from pensions (including lump sums) arising in Hong Kong, but this does not eliminate Canada's right to tax the same amounts.
XXXXXXXXXX
2014-052267
P. Tsang
March 19, 2014
Dear XXXXXXXXXX:
Re: Canadian Tax Treatment of Pension Amounts from Hong Kong
This letter is in reply to your correspondence of March 4, 2014 regarding the Canadian tax treatment of amounts from a Hong Kong pension plan. In particular, you accrued benefits under a pension plan for services rendered while you were employed by the Hong Kong government. You have since immigrated to Canada. This year you will meet the age requirement to start receiving periodic amounts in addition to a lump sum payment from this pension plan. You asked whether the periodic amounts and the lump sum payment will be taxable in Canada.
This technical interpretation provides general comments about the provisions of the Income Tax Act (the "Act") and related legislation (where referenced). It does not confirm the income tax treatment of a particular situation involving a specific taxpayer but is intended to assist you in making that determination. The income tax treatment of particular transactions proposed by a specific taxpayer will only be confirmed by this Directorate in the context of an advance income tax ruling request submitted in the manner set out in information circular (IC)70-6R5, "Advance Income Tax Rulings".
The Act generally defines a "superannuation or pension plan" to be a plan where contributions have been made to the plan by or on behalf of an employer or former employer of an employee in consideration for services rendered by the employee and contributions are used to provide an annuity or other periodical payment on or after the employee's retirement in consideration for his or her employment services. Our comments are based on the assumption that the Hong Kong pension plan to which you have referred to fits within this definition.
According to Article 17 of the Canada-Hong Kong Tax Convention (the "Tax Convention"), pensions (including lump sums) arising from Hong Kong and paid to a resident in Canada may be taxable in Hong Kong. This, however, does not eliminate Canada's right to tax the same amounts.
Canadian residents are taxable, under subparagraph 56(1)(a)(i) of the Act, on pension benefits in the year of receipt. This applies to benefits from a foreign pension plan that are attributable to services rendered while the individual was not a resident of Canada. Therefore, the periodic amounts and the lump sum payment from the Hong Kong pension plan will be taxable in Canada.
The Act and the Tax Convention do provide measures to reduce or eliminate the double taxation of income. In general, you may be entitled to claim a foreign tax credit. Income Tax Folio S5-F2-C1, "Foreign Tax Credit", provides Canada Revenue Agency's ("CRA") general views on the computation of the foreign tax credit. You may wish to refer to this publication which may be found on the CRA website at http://www.cra-arc.gc.ca/tx/tchncl/ncmtx/fls/s5/f2/s5-f2-c1-eng.html.
We trust that our comments will be of assistance to you.
Yours truly,
Lita Krantz, CPA, CA
for Director
Deferred Income Plans Section II
Financial Industries and Trusts Division
Income Tax Rulings Directorate
Legislative Policy and Regulatory Affairs Branch
香港有份儲蓄危疾, 但只係供左一年
應唔應該供落黎?
當然醫療果D會去加拿大買啦, 但係危疾呢D全球通用既
係咪KEEP都冇所謂呢?
如果日後退保拎返錢, 係咪要交稅?
應唔應該供落黎?
當然醫療果D會去加拿大買啦, 但係危疾呢D全球通用既
係咪KEEP都冇所謂呢?
如果日後退保拎返錢, 係咪要交稅?
如果我係加拿大remote香港工
加拿大會唔會收稅
加拿大會唔會收稅
如果我拎owp過左去做野，之後係香港銀行loan左錢 loan果舊錢 洗唔洗報，會唔會要計稅
同問
如果同時加拿大一份工加香港番緊另一份,
係咪加拿大報番加拿大&香港報番香港就得?
如果同時加拿大一份工加香港番緊另一份,
係咪加拿大報番加拿大&香港報番香港就得?