PPRuNe Forums - View Single Post - Working outside of Canada and Taxation Implications
Old 8th Apr 2015, 02:34
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777AV8R
 
Join Date: Apr 2000
Location: BC
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Severed Ties

We too have been offshore for quite a number of years. I wanted to do this right so employed a Canadian expat tax expert to do the work for us.

We were advised NOT to fill in the CRA NR71 form by him but then the tough work came. We had to sever everything (except property). We have no credit cards, driving licenses, healthcare or anything that deems us to be coming back to Canada. Our property is held by a management company and is rented. Our children are not allowed to use the property.

We have had piece of mind and all we pay is the tax derived from the rental property.

An example of things going wrong...a colleague of mine was just presented a bill for $64,000.00. Why? They didn't sever their ties completely. They too had filled out the NR71 but were reassessed. They held credit cards, property, drivers licenses and healthcare and their children lived in the property.
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