if there is not a treaty with Canada to report income. how will the gov know I'm working there?------------------------------------------------------------
david ingram replies:
I love this question:
It is simple, you will be targeted as you return to Canada through customs which is part of the same Ministry - The older name for the CRA was CCRA which stood for Canada Customs and Revenue Agency OR if American, the IRS and or Homeland Security.
I do not have any official figures but at different times have been told that I was told that about 15% of Canadian customs agents are ex income Tax personnel and 21% of US Customs agents are ex IRS Income tax Agents.
However, that pales beside the real source of their information. It is pretty hard for any of us to go through life without offending someone. I have more than one ex wife for instance.
You may have an ex-spouse or two or just an ex friend, fellow employee, or someone that you offend in Saudi Arabia. The person could be your best friend today.
All they have to do is write to the CRA or IRS and you are toast.
In the case of an American and the IRS, if the informant fills in US form 211, they are entitled to a reward of 1 to 30% USUALLY 10%) of whatever the IRS collects. The more information you give, the larger the reward. Just sending the IRS a name and suggesting a look might get you 1%. Sending a name with where so and so works will get you 10% and sending details about their house, car, secret bank account and investments in an offshore account will get you 30%.
No reward system in Canada yet and that surprises me.
I will ask Garth Turner that question tomorrow. Garth Tuner, the former Canadian Minister of National Revenue will be interviewed by Fred Snyder and I on Fred's program IT'S YOUR MONEY
on Radio Station CKBD (which is 600 on the AM dial) from 9:00 AM to 10:30 AM Sunday June 1st.
That's either tomorrow, today or yesterday depending upon whether you read this on Sat, May 31, Sunday June 1st, or Monday June 2nd.
Those in the lower mainland can listen on their radio. Anyone anywhere else (including Saudi Arabia) can listen live at www.600am.com and if you missed it, you can listen to the archived show for four additional weeks.
Why should you listen? Garth Turner is the present Liberal Member of Parliament for Halton in Ontario. Halton includes Kitchener and Guelph as an example. He has written five books on finance. His latest is a blockbuster analysis of the current world real estate investment situation. If you are a tenant, want to be a homeowner, are a homeowner, or thinking of buying investment property, you should read this book.
What book you ask? The name of this one is 'THE GREATER FOOL' and you can access an interactive website on the book at www.greaterfool.ca. Read what readers are saying about it in the hundreds. In fact, while you are reading it you will be making plans to sell the house and buy a yurt.
http://www.yurts.com (take a look) one of my clients wiped out in the Chehalis Flood in December 2007 is buying two of these rather than rebuilding.
However, I AM NOT SELLING MY HOUSE BECAUSE OF THE BOOK. I have a good use for every square foot and am close enough to everything that I will stay. And if you get too scared at some point in your reading, do yourself a favour. Go to the last two pages and read the AFTERWORD. You will find that Garth has followed his own precepts. He has downsized and has a livable house with a garden close to transportation, etc.
What could be better.
And, those in the Lower Mainland of BC or Northwest Washington State or Vancouver Island can see Garth and I on stage in September. We will both be speaking at the MONEY EXPO at Victoria on Saturday Sept 20th and at the Convention Centre in Nanaimo on September 21st. Fred Snyder will also have a session in a private breakout room where he can show you his theories in a more private setting.
Heck, it is likely worth a Westjet ticket from Calgary or Regina or Winnipeg to attend.
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david ingram's US / Canada Services
US / Canada / Mexico tax, Immigration and working Visa Specialists
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Cell (604) 657-8451 -
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