Canadian PR

[pohchuan]

NO OPTION?

Can't get PR offshore means no option?

I see many mexicans and Filipinos on work permit here. Work a few years in laborer type jobs later can apply for PR.

There is NO SUCH THING AS NO OPTION.

No right or wrong just free to choose. But be prepared to pay the price.

You see, this is exactly what happen in Singapore to Singaporean. The salary in Singapore is not too low to make you leave but not too high to make you rich and take a laid back attitude. Singapore also tie you down with CPF, property, emotional baggage, family commitment, social expectation and a host of others that just making it hard to leave.

Yes, anyone can leave as we have an open border, but there is a price to pay for leaving, and not everyone has the same make up physically and mentally to ready themselves to leave.

To me, my family circumstances leave me only the option to slug it out outside Singapore to be with my family, and I am okay with that as long as I can get my wife and kid back. But I will not judge others who are not prepared to leave their comfort zone (albeit stressful) in Singapore. After all these people are those that are sacrificed to make Singapore rich and ultimately making those who invest in the country rich.

As said, not everyone is prepared to leave and paying the price. To each, his own.

 

[Hock]

Will the Canadian govt. tax my CPF money when I take it out after getting my Canadian citizenship?

 

[Charlie99]

Re: Canadian Income Tax System

Will the Canadian govt. tax my CPF money when I take it out after getting my Canadian citizenship?

This is only for discussion, and should not be considered as "Advice", because I am not a tax specialist.

I believe that a resident is required to file an income tax return (and pay accordingly), and it is not based on Canadian citizenship. If a Canadian citizen is not a resident for income tax purposes (please refer to the Income Tax Act), he does not have to file an income tax return.

Whereas, if an individual is a resident for tax purposes, I believe that he has to declare his world wide income. [very similar to the concept in the SG Income Tax Act]. Accordingly, if you are considered a resident for income tax purposes, it appears that you would have to declare your "pension income" derived from outside Canada.

 

[pohchuan]

Re: Canadian Income Tax System

Whereas, if an individual is a resident for tax purposes, I believe that he has to declare his world wide income. [very similar to the concept in the SG Income Tax Act]. Accordingly, if you are considered a resident for income tax purposes, it appears that you would have to declare your "pension income" derived from outside Canada.

Just curious, if you dont declare and leave the money in a Bank outside Canada, how would they know?

Yes, a law is broken here, and we should always declare, but really, do the canadian tax authority witch-hunt a small fry for a small pittance of cash?

 

[Charlie99]

Re: Canadian Income Tax System

Just curious, if you dont declare and leave the money in a Bank outside Canada, how would they know?

Yes, a law is broken here, and we should always declare, but really, do the canadian tax authority witch-hunt a small fry for a small pittance of cash?

The Canadian income tax system is similar to SG, that is it is self declared. If an individual's lifestyle is not extravagant or "too showy" relative to the declared income as reflected in that individual's income tax returns for several years, then it seldom attract attention from Canada Revenue Agency. Then, there are individuals who may choose to leave that kind of income in a bank account in their former home country, but return there annually and spend it as "vacation money."

Every individual is different. Or as some would say, do whatever you like, but do not get caught."

 

[scroobal]

There are 2 components that seemed to puzzle most tax residents (new immigrants etc). One is the pension income that you draw from your country of origin and the second part is that principal amount in your pension or superannuation plan which is equivalent to your CPF that you bring over

The first, the pension is taxable while the second which is your CPF or superannuation component is not taxable.

Do not declare your CPF when you bring it in. If you do, the people in the tax department might not know how it is works and end up taxing you. Typically tax forms do not have a separate entry for superannuation that is brought in from overseas and people will end up putting it in the wrong column.

There is not requirement for one to declare CPF or large sums of money that is brought in. The law requires that you declare "income". Again many can't make the distinction.

If you still can't the above , he is the simple version
CPF - no need to declare and non-taxable
Pension - need to declare and taxable.

Just don't carry physical cash and not declare it. Just TT the stuff.

ps. if you want to break your CPF in smaller amounts to bring it in as the same principle applies.

Will the Canadian govt. tax my CPF money when I take it out after getting my Canadian citizenship?

 

[Hock]

I am seeing more foreclosure listings in the realtors' weekly/monthly
free magazines in Calgary. Is Canada following its Big Brother down south?

 

[pohchuan]

I am seeing more foreclosure listings in the realtors' weekly/monthly
free magazines in Calgary. Is Canada following its Big Brother down south?

If the properties really going down , I will be the first to buy. The problem is that they are not coming down to low level, only sliding down for the slightest amount.

Wait long long dude, the PRC are still carrying suitcases with cash into Canada.

 

[Hock]

http://www.theglobeandmail.com/news...illage-goes-into-receivership/article1803471/

http://www.youtube.com/watch?v=I5B3j25B6s0

"The Lehman Bros. of real estate".....

Don't worry, PRC with suitcases of cash to the rescue.

 

[chuckyworld]

Will the Canadian govt. tax my CPF money when I take it out after getting my Canadian citizenship?

No, i have taken my out, been a few years

 

[chuckyworld]

I am seeing more foreclosure listings in the realtors' weekly/monthly
free magazines in Calgary. Is Canada following its Big Brother down south?

The housing are all bubble, with the low interest rate.

It will be like what happen in the US, just hold on to your cash and wait for the right time to move in.

 

[panama]

Today all of Metro Vancouver is covered with snow, damn. Past few days places in higher elevation already has snow. Yesterday there was traces of snow in Metro Vancouver but not as much as today. It is so bloody cold. Anyone who thinks of Canada without thinking of the cold is nuts. Forget the layers or thermal what not. Why endure the cold when it is warm and sunny in California or Australia. The whole of Canada now is covered with snow, it is so cold and miserable. Please let the sun come up tommorrow.

 

[chuckyworld]

Today all of Metro Vancouver is covered with snow, damn. Past few days places in higher elevation already has snow. Yesterday there was traces of snow in Metro Vancouver but not as much as today. It is so bloody cold. Anyone who thinks of Canada without thinking of the cold is nuts. Forget the layers or thermal what not. Why endure the cold when it is warm and sunny in California or Australia. The whole of Canada now is covered with snow, it is so cold and miserable. Please let the sun come up tommorrow.

What you mean the whole of canada is cover in snow.

You in Canada now?

To each his own, whereever you want to be, there are always pro and con no matter where you choose.

 

[panama]

What you mean the whole of canada is cover in snow.

You in Canada now?

To each his own, whereever you want to be, there are always pro and con no matter where you choose.

The temperature is close to 0 degrees in Ontario, BC etc. Feels like minus something.

Temperature is minus something in SK, MB etc. Feels like super minus artic cold.

At that rate, it is bloody cold. Anyone who brush that aside is a con artist.

I just told you Metro Vancouver is covered in snow today. Yesterday was just traces of snow.

And snow showers in Calgary now, so messy all over the place.

 

[chuckyworld]

The temperature is close to 0 degrees in Ontario, BC etc. Feels like minus something.

Temperature is minus something in SK, MB etc. Feels like super minus artic cold.

At that rate, it is bloody cold. Anyone who brush that aside is a con artist.

I just told you Metro Vancouver is covered in snow today. Yesterday was just traces of snow.

Eh, you are making a sweeping statement, it is not snowing in GTA, so it is not that cold.

You have to look at what you wrote, The whole of Canada is cover in snow!

So who is the con artist here, and no it is not the freezing cold.

That is cold but not like what you said



Weather Forecast: Vancouver, British Columbia

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Current Weather Updated: Sat, Nov. 20, 2010, 18:00 PST - Vancouver Airport
Vancouver, BC A few clouds

1

°C

* °C
* °F

A few clouds

* Feels Like: -2
* Wind: SE 11km/h
* Sunrise: 7:30
* Sunset: 16:25

* Relative Humidity: 59%
* Pressure: 101.12 kPa
* Visibility: 32.0 km
* Ceiling: unlimited

 

[Hock]

Calgary this morning was -24C, now -18C. No big deal. Below -10C, without wind chill, you don't feel the difference. In fact, I love the cold weather here. Just wear layers, and no problem. Very nice weather to sleep.

 

[Hock]

The housing are all bubble, with the low interest rate.

It will be like what happen in the US, just hold on to your cash and wait for the right time to move in.

Yes, stay liquid. It's all about timing.

 

[mayliewwan]

How's winter driving??? Experience skid, stuck in snow etc??

Calgary this morning was -24C, now -18C. No big deal. Below -10C, without wind chill, you don't feel the difference. In fact, I love the cold weather here. Just wear layers, and no problem. Very nice weather to sleep.

 

[mayliewwan]

Bloody cold?? You reminded me of the SQ stewardess who stood at the door, wearing full lenght winter jacket, looking miserable as passengers disembarked. That was in mid October, a few years ago. Cannot tahan the cold, then Canada is not for you

 

[chuckyworld]

How's winter driving??? Experience skid, stuck in snow etc??

Change winter tires, drive slow no hurry, leave early.

Make sure you have a spade in your trunk and first aid kit along with blanket.

get a couple of sand bag and leave in the trunk too.

Most important don't panic when you skid just go with the flow, and foot off the gas, don't slam on the brake, just step on it lightly on and off.

I have spin on the skyway early morning with my small colt dodge years back , thanks God there are not much traffic.