Taxes and Investment Considerations

Canada's Income Tax System

Canada's federal income tax system is administered by the , who also collects taxes on behalf of the Provinces/Territories.

There are for newcomers to Canada who are in their first year of residence in Canada.

¾ÅÐãÖ±²¥ will deduct income tax payments from your pay cheque every month. Each year, you determine your final tax obligation (or refund) by filing an income tax return on-line or by sending in hard copy to the Canada Revenue Agency by April 30th.

Moving expenses beyond the moving allowance provided by ¾ÅÐãÖ±²¥ may be claimable according to the .

If you require assistance with filing your income tax return, don't delay in making a call to a tax accountant. Tax accountants in Kingston get extremely busy and their practices fill up well ahead of filing time. You can find a tax accountant through the web site of the .

Tax Obligations for U.S. Expatriates

U.S. expatriates living abroad have a legal obligation to file U.S. tax returns every year on their world-wide income. To find a Chartered Accountant in the Kingston area with experience in U.S. tax returns, please contact our program. 

Important: If you plan to move to Canada for an extended time, to reduce your tax liability before and after your move to Canada, your strategy must be planned before your move takes place. It is advisable to discuss your tax and investment situation with a qualified professional in the U.S. well in advance of your moving date.