in limbo
13th Oct 2005, 22:35
Hi there.
Just wondering if anyone has any info regarding taxes and what you can and can not own if you are leaving the country for overseas work?
thanks;)
dareya
14th Oct 2005, 04:57
Basically, the only things you can hold onto are your home (rented at arms length, NOT to a family member) and your RRSPS (cannot be touched - added to or changed). All credit cards, Healthcare , Vehicles, are a not allowed. Second properties will cost you a tax fortune and I am not sure of the implications. There are very specific ways about cancelling your healthcare / phone/ credit cards etc. Try the Expatriate Group at 1-888-232-8561 - (they also can do your taxes while you are out of the country and invest). To do everything legally, it can be overwhelming, but the Exp. Group gives you a step by step walk through of everything that needs to be done. Good Luck!
in limbo
14th Oct 2005, 10:01
Well there you go.:confused:
I thought you could not own a home but having a car was no problem.
I will call them. Thanks
;)