Quote:
Originally Posted by EliteWebmaster
Yes, they tax you even if you leave the country as long as you hold the citizenship.  |
Depends on where you move to. They do NOT tax you if you move to most countries (not sure about the US). You just say so on your income tax return & away you go.
As for the US, you usually have to file EVERY YEAR (even if it's to say you didn't make anything) & this is no matter where you move to.
AND, in the last 4 years they started hounding EVERY country in the entire world so that if you are an American & you open a bank account in another country, the US has to be told you have an account there & I'm guessing they can find out how much you have in there.
Because of this, some countries won't even let Americans open a bank account b/c it's too much trouble for them to have to then file with the US.
I could be wrong, but I don't think ANY other country in the world has that much power to see what you have in another country.
Love the US for many of its benefits, but after having lived in both countries now, there are some things Canada is better for.
Of course the article above is NOT one of them. Housing & rent used to be VERY affordable back in the 80's until the conservatives took over, & the property taxes are OUT TO LUNCH. I'm surprised you didn't mention that.
A lot of what goes on in Canada is hidden from the public, & Canadians generally don't make a ruckus about much, which is why nothing ever changes for the better. That's one of the things I love about Americans.
I'd keep your Canadian passport just for traveling around the world. This decreases your chances of getting killed & I'm not joking either.