Korean Job Discussion Forums

[freddy_teacher]

I dont want this to turn into a "should you/should you not declare" thread, just simply wondering if any Canadians actually declared their income after they returned to Canada.

if so, how much did you declare and what happened? did you pay full Canadian income tax?

the reason im asking is because last year i spent more than I made, so i didnt run any risk by not declaring. but this year i plan on bringing home a substantial chunk if I land this job i interviewed for.

thanks in advance.

[lifeinkorea]

[meaghan]

Canada and Korea have a tax treaty, so taxes paid in Korea count towards taxes owed in Canada. Also, I would declare your income when the won is really low so it looks like you earned less.

[freddy_teacher]

[some waygug-in]

I knew a guy who did this, but he said he could declare a lot of extra expenses, like cost of moving, extra insurance etc.

Your best bet is to talk to an accountant in Canada who knows about
ex-pat tax issues.

[Big Mac]

Unless you own property or have children living in Canada, there is no need to declare your Korean income to Revenue Canada.

You do, however, have to claim any money that you made in Canada and pay taxes on that.

I never paid taxes in Canada the entire time I lived in Korea (five years).

I still filed a tax return every year though. I put "0" as my income and made sure I used my Korean address. I've never had any problems. I also filed the form requesting an opinion on my residency status for a couple of years, but I didn't need to as it is only an opinion and is not legally binding.

[freddy_teacher]

[bobbybigfoot]

[meaghan]

I guess it depends on your income, too. I made 2.1 million won per month last year which, though sufficient for my needs (particularly since I wasn't paying rent), is pretty low for Canada. Once you add all the deductions like airfare and other moving expenses, the couple hundred dollars spent on postage when applying for a visa, and I end up getting money BACK on my tax return.