COMMERCE 4SB3 Chapter Notes - Chapter 2: Independent Contractor, Withholding Tax, Canadian Passport
6 Dec 2017
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Residency status is the major criterion used in canada to determine income tax liability. If you are a resident of canada you are taxed on your worldwide income, regardless of where the income is earned/generated from. Depending on tax regulations on foreign country tax earned/generated, a situation could be created where person resident in canada is required to pay both foreign or canadian tax on foreign source income. When a canadian resident may be requested to include foreign source income in taxable income, the tax payable may be reduced by the foreign tax paid in the other country. Income tax is also impose on non-residents that are. To determine residency status, we must review all the facts to determine where an individual conducts their normal everyday life, and to what degree the factors indicate a permanent tie to the country. Whether owned or leased, suitable for year-round occupancy and available for occupancy establishes important residential tie to.
