Paying tax in Canada while owning a dig in HK

[superfriendlyav8er]

Looking for someone to fill me in a bit on how things work in regards to income tax (in Canada)...what Im wondering is if it is possible to own a pad in Hong Kong and collect your living allowance, and own a pad in Canada as well but not pay Canadian tax?...if so, is it possible to spend the majority of your time in Canada at your Canadian residence (or otherwise "live" in Canada) and not pay Canadian tax?...I realise in this case, according to what I've learned through my own reasearch, you should probably pay the tax, but is there a way around it that's relatively safe?...if there is anyone who is in this situation, I'd love to get some info from the horses mouth (you'll have to excuse me, it's not that you look like a horse I'm sure)...also does anyone know how this works in other countires?...I have heard that you can pull it off, but you have to be smart about it...good idea, bad idea????

Focker Out!

[Westcoastcapt]

You could always ask the Natural Persons crowd. Listen to the spiel and then buy the DVD. Oh, didn't they just throw one of them in jail?

[AtoBsafely]

Your Canadian tax obligation is based on "residential ties". Revenue Canada is the jury, judge and executioner of tax matters.

Get professional advice!

[AAIGUY]

House in Canada MUST be rented to a third party paying a "fair" amount of rent. This "rent" must be claimed as income in Canada. Make sure your expenses equal rental revenue. or you'll be paying tax on the rent.

Re being in Canada.. limited to 180 days a year.

Also..Cannot have any substansial ties. Ie.. Car / Bank/ Club memeberships

As stated Rev Canada is sole judge on whether you are maintaining ties with Canada. If you have one thing, ie keeped your drivers license, then that likely will not consitute a tie. If you also have a car insured and registered in you name, it likely will.