Korean Job Discussion Forums

[kimchicraig]

what is the maximum that you can send home to Canada without getting hit with taxes?

[OculisOrbis]

It's not what you send home, but whether or not it was earned legally and Revenue Canada deems you a non-resident for your time outside Canada - and you wont know that until after you file for taxes. You can get a non-resident screening done by them, but it isnt binding and doesnt mean they wont change their minds later. Canada doesnt have a limit on tax free earning like the US does (about $80 000, last I heard). Canadians have to pay Canadian tax on all international earnings (unless deemed a non-resident). The taxes you paid in korea will be deducted from the Canadian taxes, but you must pay the remaining difference (a lot).

Soooo, the short version is: There isn't a limit if youre deemed a non-resident, but you will be taxed on every dollar if Revenue Canada decides you were still a resident while you earned abroad.

[jvalmer]

Don't send the money in one large chunk of over $10,000. I've sent my money back one time every year via bank wire and I carry a large amount home when I fly back. I file my taxes every year, and what I put in my bank account is really not that much for the year about $10,000. I have yet to be dinged for taxes.

That's my experience so far.

[Epik_Teacher]

Why don't you just get some Travellers Checks and send them via EMS? I've done that for years, never had a problem.