BU357 Lecture Notes - Lecture 6: Personal Property, Tax Treaty
Document Summary
Taxed on worldwide income while resident in canada and on canadian income will not in canada. Requires you to not be a resident for a part of the year. Individual who has no ties to canada but has employment income, business income or capital gains/losses is entilied to pay tax on income made only in canada. Tax cant be avoided by deferring salaries etc. Non resident cannot be a part year resident. Non resident earning from sources other than ones above: ex: dividends will have 25% tax withheld under the act. Can be modified by tax treaty b/w person and their country. Primary: dwelling place that"s available for occupation if in a 3 year rental agreement with a. Random 3rd party when you want to sever ties- it doesn"t necessarily count. Secondary: alone they"re not enough to tie you, but a few together will prove continuing state of relationship especially if a secondary tie is combined with a primary one.
