PPRuNe Forums - View Single Post - Working outside of Canada and Taxation Implications
Old 8th Apr 2015, 04:18
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Dropp the Pilot
 
Join Date: Aug 1998
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Let's move the question forward a bit....

Once you have accumulated your offshore wealth and you decide to return to Canada what do you do with it?

I have not found an offshore broker who can deal with a resident Canadian so by law you will be required to close that account before going home. Where does the money go?

Everyone I have spoken to says they have had no trouble repatriating their money but.....

Anyone have any experience? It seems to be of little benefit to leave it offshore as the costs will mount and by law you must report your offshore holdings every year once you are resident. Trying to dodge that bullet could cost you dearly.
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