Do you have to report income in CANADA?

Discussion in 'Legal Issues' started by rsuog, Aug 2, 2007.

  1. #1
    Hi guys,

    do you have to report income from CJ/Adsense in Canada?

    is there any way to avoid it? for example, registering an offshore Cyprus company with a bank account...and recieving direct payments from CJ :)

    is that possible? will CJ/Google send direct bank account payments to offshore companies?

    does anyone have any experience with that?
     
    rsuog, Aug 2, 2007 IP
  2. Acroplex

    Acroplex Well-Known Member

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    #2
    Offshore Cyprus companies are obsolete, as Cyprus is now a European Union member. Where are you located? If you're in the US, you are obligated to report your worldwide income, regardless of its source.
     
    Acroplex, Aug 2, 2007 IP
  3. Hannah

    Hannah Guest

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    #3
    Same thing with Canada, which is where I'm assuming the OP is posting from.
     
    Hannah, Aug 2, 2007 IP
  4. rsuog

    rsuog Peon

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    #4
    I am in canada...but what if I register a British Virgin Islands (they dont disclose owner's name) company with an offshore bank account in Europe or even US?
     
    rsuog, Aug 2, 2007 IP
  5. Hannah

    Hannah Guest

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    #5
    It doesn't matter, you still have to pay income tax in Canada. Unless you yourself are physically living in another country, you have to pay Canadian income tax, regardless of which country the funds are going to.

    You could TRY your tax evasion, but you're gonna get jail if you're found out. A guy in the town next to me just got 1 year in prison as he hasn't paid his house tax in a couple years. Income tax will get you much worse.
     
    Hannah, Aug 4, 2007 IP
  6. eddy2099

    eddy2099 Peon

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    #6
    Yes if you are residing in Canada when the income is earned, it would be deemed to be earned in Canada. Like Hannah said, unless you were out of the country when earning that income.

    The only way you can not pay taxes in Canada is to physically move to the British Virgin Islands.

    Income tax is a tax based on income and not where you deposit your checks in.
     
    eddy2099, Aug 4, 2007 IP
  7. LGRComp

    LGRComp Well-Known Member

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    #7
    Suck it up and pay the tax on your income like the rest of us.
     
    LGRComp, Aug 4, 2007 IP
  8. RoyalSeo

    RoyalSeo Peon

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    #8

    Same advice from my side :D
     
    RoyalSeo, Aug 4, 2007 IP
  9. rsuog

    rsuog Peon

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    #9
    you know the funny thing... i am not a citizen of canada actually. do i still have to pay Canadian taxes?

    i just spend lots of time in canada and i have a canadian bank account where i receive money from cj, but i am not legally a citizen (or even a permanent resident) of canada...
     
    rsuog, Aug 5, 2007 IP
  10. eddy2099

    eddy2099 Peon

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    #10
    You don't need to be a citizen of the country to pay taxes there. You just need to be either residing in that country when the income is earn (ie such as a singer or visiting actor) or if you are a tax resident (ie residing in that country for more than 183 days in the tax year) to pay tax in that country.
     
    eddy2099, Aug 5, 2007 IP
  11. AstarothSolutions

    AstarothSolutions Peon

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    #11
    Your company (if you have one) can avoid the company paying tax by offshoring but you yourself will have to pay tax on the income you draw from the company irrespective where the company is based
     
    AstarothSolutions, Aug 5, 2007 IP
    rsuog likes this.
  12. Hannah

    Hannah Guest

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    #12
    It's incredible the lengths people will go to to not pay it.

    People who don't pay their income tax should be refused access to hospitals, schools, and the other programs which our tax dollars fund.
     
    Hannah, Aug 7, 2007 IP
  13. rsuog

    rsuog Peon

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    #13
    im asking because i am not a citizen of canada...therefore, i am paying in full for everything when i visit canada, sometimes twice and even more for social services just because i am not a rightfull citizen of a country

    so my question is: do i really have to pay taxes just because i recieve funds in canada - i dont think so!
     
    rsuog, Aug 7, 2007 IP
  14. eddy2099

    eddy2099 Peon

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    #14
    You cannot change the law just to suit your requirements.

    Even if you do not pay tax in Canada, you still need to pay tax in your home country. There is no way around it, no matter what you still need to pay taxes. Tax evasion is a crime.

    You never need to be a citizen in that country to pay tax. If you are a tax resident then you need to pay tax. People who works in a foreign country pays taxes in the country they work in.
     
    eddy2099, Aug 7, 2007 IP
  15. rsuog

    rsuog Peon

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    #15
    ok i see. so i better stop paying taxes in my home country and start paying taxes in canada because i spent more time in canada but not in europe, right?

    thanks eddy!
     
    rsuog, Aug 8, 2007 IP
  16. eddy2099

    eddy2099 Peon

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    #16
    Check out http://www.cra-arc.gc.ca/tax/nonresidents/individuals/nonres-e.html#b

     
    eddy2099, Aug 8, 2007 IP
  17. mcgauley10

    mcgauley10 Peon

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    #17
    i know a few ppl that dont pay tax because they dont stay in a country for more than 180 days or whatever. theres more to it than that, but thats the basic concept
     
    mcgauley10, Aug 8, 2007 IP
  18. eddy2099

    eddy2099 Peon

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    #18
    Well, it is very important to check the tax rules of the country you are in. In some country, if you are a tax resident you will pay regular resident rates otherwise if you are not a tax resident then you may be subjected to higher tax rates for non-resident.
     
    eddy2099, Aug 8, 2007 IP