Non-Resident Tax

During the course of their employment, many Canadians accumulate a pension. Many pensions are funded with an employee’s pre-tax income. As a result, upon retirement, each employee (even non-residents) will be subject to income tax obligations on their annual pension income payments.

For many individuals preparing their Canadian income tax returns, the term “taxable Canadian property” is probably recognizable. In fact, numerous provisions within the Income Tax Act impose tax implications regarding the disposition of this property on certain individuals, such as non-residents. As such, it is very important for Canadian taxpayers to be aware of the proper definition of taxable Canadian property, and how it affects them.