Unique Content Article on tax issues for investors and Canadian immigrants

<h2 class = 'uawtitle'>A Primer On Tax Issues For Investors And Canadian Immigrants</h2><br />
<div style='font-style:italic;' class='uawbyline'>by Scott Wallace</div><br /><br />
<div class='uawarticle'>When relocating to a new country either for business or as part of a permanent move, taxation is always bound to be an issue. Every country has its rules, so you may find things pretty different from what you have been accustomed to. These insights on <a href="www.taxca.com">tax issues for investors and Canadian immigrants</a> should help ease your settling in.<br />
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Under the laws of Canada, one becomes liable to pay tax depending on his immigration status. It is therefore important to know what your official status in the country is. If you have already received your residency papers and are doing business in the country, you need to register with the tax authorities so as to avoid legal complications.<br />
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In essence, the moment the Canadian government recognizes your residency application and issues you with a permit is the day you become mandated to begin paying taxes. Some applicants get their permits issued soon after arriving at the airport while others engage the authorities in a cat and mouse race. Important factors that the government looks at when ascertaining taxation liability are marriage to a Canadian or local property ownership.<br />
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Once you get the green light to live and work in Canada, the law dictates that you pay up on time and file your returns each year. Income that the taxman regards as taxable includes any money originating from both foreign and local sources. This essentially means that any cash you raise from your business ventures overseas will be considered taxable. Nonetheless, a citizen who resides overseas is only taxed for money generated from sources within his mother country.<br />
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One thing that many immigrants do not often factor in when moving is the difference in levy bills between Canada and their parent countries. Since you will be taxed on your worldwide income, you may find that your new rate is higher or lower depending on what you used to pay in your jurisdiction. Those who fail to factor this when relocating often end up suffering and living from hand to mouth. Before you move, it is imperative that you know what you are getting into.<br />
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Canada recognizes income as coming from many sources, just as other countries do. It may be categorized as coming from employment or from royalties and dividends generated through investments. For the latter, the government taxes both local and overseas businesses as long as you are in the country. No matter where your income comes from, ensure you prepare adequately for taxation.<br />
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If you are relocating due to a job transfer, you must know what to do to avoid excess taxation. Pay special attention to the date you get posted as the authorities will use this to calculate how much you owe the state. There should be a clear distinction between the day you became a resident and the day you were yet to get registered.<br />
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Before you start paying up, ensure you get a tax identification number. Without it, you may be deemed to have evaded tax in future investigations. Remember all returns must be filed by the end of April every year.<br />
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<div class='uawlinks'>When you are looking for information about <a href="http://www.taxca.com">tax issues for investors and Canadian immigrants</a>, come to our web pages today. More details are available at http://www.taxca.com now.</div><br />
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