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Canadian investments/income taxes filing

 
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itiswhatitis



Joined: 08 Aug 2011

PostPosted: Wed Feb 10, 2016 6:14 am    Post subject: Canadian investments/income taxes filing Reply with quote

Since 2007 I have taught in South Korea and China.

As a Canadian the Non resident status form is not required and I have not filed taxes since 2007.

I have been paying off debt and in the near future I will have money to invest.

There must be many Canadians in the same position.......

I wonder about some investment ideas (with non-Canadian banks?) or if I can have some investments with Canadian banks and earn interest and not have to file taxes.

Best wishes
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ttompatz



Joined: 05 Sep 2005
Location: Kwangju, South Korea

PostPosted: Wed Feb 10, 2016 3:18 pm    Post subject: Re: Canadian investments/income taxes filing Reply with quote

itiswhatitis wrote:
Since 2007 I have taught in South Korea and China.

As a Canadian the Non resident status form is not required and I have not filed taxes since 2007.

I have been paying off debt and in the near future I will have money to invest.

There must be many Canadians in the same position.......

I wonder about some investment ideas (with non-Canadian banks?) or if I can have some investments with Canadian banks and earn interest and not have to file taxes.

Best wishes


IF you have investments in Canada then you will be taxed at the non-resident rate (25%) and will have to file a tax return each year.

IF you wish to stay untaxed and untaxable in Canada then keep your investments off-shore as well.

.
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jlb



Joined: 18 Sep 2003

PostPosted: Thu Feb 11, 2016 3:53 pm    Post subject: Reply with quote

Check out Interactive Brokers. It's best to keep stuff out of Canada if you're going to be abroad for a while.
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