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I have been thinking of emigrating to Canada and would
like to know more about the five year immigrant trust
that you mentioned recently in one of your articles.
My husband and I own 2 apartments in Singapore
(estimated net annual rental of C$60,000)which would
most probably be rented out), a sizable stock
portfolio (estimated annual dividends C$40,000) and
we have two girls aged 12 and 14.
It is unlikely that we would be working in Canada
(even though we would like to) and need to be able to
minimize taxes (our primary reason for leaving
Singapore is that our younger daughter is language
disabled and is having a real hard time in school,
sending her to boarding school is out of the question
because she is also insecure and really needs the
family around her) and would like to do everything
above board.
Thank you
Pxxxxxx
__________________________________
david ingram replies
The five year immigrant trust allows you to put your assets into a trust for five years and only pay tax to Canada on the earnings that you take out of the trust to use. This allows a tax free accumulation of earnings (not used) to accumulate within the trust for five years. It gives you a chance to "try out" Canada for five years without being taxed on your true world wide income.
However, with a learning disabled child, if you come to Vancouver, you also have the opportunity to have her see Dr Paul Swingle and be treated with Neuro Bio Feedback.
Paul Swingle is a former Harvard medical lecturer who retired here and then went back to work. His clinic is a marvel for ADD, Autistic, and brain damaged people of any age and you can find out more at www.drswingle.com. I have met patients in his clinic who have come from all over the world for treatment and recommend him highly. He has successfully cured one of my sons of ADD with no drugs, no Prozac, no Ritalin, etc.
You should go to http://www.cic.gc.ca/english/skilled/assess/index.html
This is the self-assessment test for an individual to determine his or her eligibility to immigrate to Canada without being sponsored by a spouse.
I know this will help you make your decision. If we can help you, remember, that is what we do for a living. In particular you should goto www.centa.com and click on and read [US/Canada Taxation] BEFORE you come. Although specifically geared to the United States, this section contains references to Saudi Arabia, Great Britain, Libya and shows the way Canada taxes people from other countries. Article IV of the US / Canada Tax treaty is also there and reads "just about" identically to another 100 + countries that Canada has treaties with.
David Ingram's US/Canada Services
US / Canada / Mexico tax and working Visa Specialists
US / Canada Real Estate Specialists
4466 Prospect Road
North Vancouver, BC, CANADA, V7N 3L7
Res (604) 980-3578 Cell (604) 657-8451
(604) 980-0321
New email to [email protected]
www.centa.com www.david-ingram.com
Disclaimer: This question has been answered without detailed information or consultation and is to be regarded only as general comment. Nothing in this message is or should be construed as advice in any particular circumstances. No contract exists between the reader & the author and any and all non-contractual duties are expressly denied. All readers should obtain formal advice from a competent financial, or real estate planner or advisor & appropriately qualified legal practitioner, tax or immigration specialist in connection with personal or business affairs such as at www.centa.com. If you forward this message, this disclaimer must be included."
Be ALERT, the world needs more "lerts"
This from "ask an income tax and immigration expert" from www.centa.com or www.jurock.com or www.featureweb.com. Canadian David Ingram deals daily with tax returns dealing with expatriate:
multi jurisdictional cross and trans border expatriate problems for the United States, Canada, Mexico, Great Britain, the United Kingdom, Kuwait, Dubai, Saudi Arabia, South Africa, Thailand, Indonesia, Egypt, Antarctica, Japan, China, New Zealand, France, Germany, Spain, Italy, Russia, Georgia, Brazil, Peru, Ecuador, Bolivia, Scotland, Ireland, Hawaii, Florida, Montana, Morocco, Israel, Iraq, Iran, India, Pakistan, Afghanistan, Mali, Bangkok, Greenland, Iceland, Cuba, Bahamas, Bermuda, Barbados, St Vincent, Grenada,, Virgin Islands, US, UK, GB, American and Canadian and Mexican and any of the 43 states with state tax returns, etc.
Your name has been added to our email list because of an enquiry we have received, we may not answer your question but
another similar question will be as we lump them.
You may find more answers at www.centa.com
David Ingram of the CEN-TA REALTY Group
US / Canada / Mexico tax and working Visa Specialists
US / Canada Real Estate Specialists
(604) 980-0321 - Fax 913-9123 [email protected]
www.centa.com www.david-ingram.com
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