Suggestion Best Posts in Thread: Canadian Pensions

Hello i am also a Canadian and living in Dumaguete i receive the CPP pension and it is a direct deposit into my Philippine peso bank account and there is no penalty.

 

OK, I have NO ties with Canada except my Canadian passport, and it can be renewed in Manila.I do not own property, business or receive health care from my province of BC in Canada. I fill out my income tax form and tell Revenue Canada I am a "non-resident" of Canada. I tell Revenue Canada also that the total amount of my pensions is all I am receiving as income. They are happy - I am happy. I can enter and exit Canada when I wish, if I wished to. I can reside anywhere in the world if I wish too - my only legal requirement is to tell them where I am residing.

 

I am from the province of ALBERTA and i can be away from Canada for seven months and not lose my health care benifits.

 

I will pass this on to my Canadian friends who are living in Canada for 6 months a year because of fear they will be cut off from their pensions...

 

Good luck. I know many Canadians who have to spend 6 months a year in Canada to retain their pensions. I hope you are able to find a way around that. Please do me a favor if you do find a way to avoid having to reside in Canada for 6 moths please send me a private message how you were able to accomplish this. I have many, many Canadian friends who would love to stay here year round on OAP.

 

Hi, I am a Canadian from British Columbia. Retired in 2001 and have lived in Austria (11 years) and Philippines (4 years). I have been doing my taxes all this time from my countries of residence and never returning home except to visit my kids twice in the 15 years for a very short period of time. I receive, OAP, CPP, and my govt pension. A common misconception of people moving here to the Philippines is that Canada charges 25% off the top of all pensions when you move to the Philippines. This is true, but there is a legal way around it which is in the Canadian tax laws. Look up "Filing under Section 217 of the Income Tax act" and also "NR5 forms for Non-Residents of Canada". Also, you cannot file online (efile). I use a Tax program called Ufile ($18.00 a year), enter my income, print out a paper copy, sign it, and send it in by registered mail.
One other thing, open a CRA (Canada Revenue Agency) account online. There is a wealth of information on there, and they notify you by email when your tax return is received in their office, and then when assessed.
If anyone wishes help with Canadian Income Tax filing, please contact me. I am married, past 65 and my income is well under the max of $77,000 allowed, so I pay NO taxes, and it is all legal.