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 Politics : CANADIAN POLITICAL FREE-FOR-ALL

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To: kidl who wrote (15533)3/2/2012 1:14:39 PM
From: 7 YearsRead Replies (2) of 16512
 
Wife and I are going to give it a go down in Panama. Lots of paperwork to ensure is in place. No tax treaty with Panama so the government requires a 25% withholding tax on all income from Canadian sources, not much different from tax deductions right now. Do this and don't have to file a tax return. Exchange rate is favourable right now. Non-resident status is essential for tax purposes on world wide income. Lots of considerations, but done right I see no downside. Worst case, move back to Canada and do the snowbird thing.

Cheers
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