This is a little bit confusing, when you get GIS you absolutely can live outside of Canada, but you also need to stay in Canada for period 6 months and 1week, the rest of the time 5 months & 3 weeks you can live abroad. It used to be that Revenue Canada didn't check closely the times and weeks, however since the computers at our airports are sending info to the gov't, they know exactly when you left and when did you arrive, your GIS will be suspended if you are 6 months abroad, it's automatically done by computer, so anyone with GIS must really watch that they stay abroad only 5 months & 3 weeks, even one day over and benefits will be suspended. Good luck everyone 😊

To recieve GIS and OAS the rules clearly state and i quote "You may not reside outside of Canada for more than 6 months". This DOES NOT say per year. Keep an Address in Canada, do not have your pension deposited into a foriegn bank account and return to canada once every 6 months.

@tudvalstone

17 күн бұрын

He is correct about OAS

@frankcentofanti9317

17 күн бұрын

he said you get CPP & OAS even if you live abroad who is right

@magicman9486

16 күн бұрын

@@frankcentofanti9317 I said GIS and if you live abroad you may get a reduced amount. of OAS. THe cpp is not a problem.

When I retired I moved to the EU. I had myself declared a nonresident of Canada. I do collect my pension from where I worked and I do collect CPP and OAS. I have my pensions deposited directly into my bank account over here. I do my yearly taxes but being a nonresident I do not have to pay provincial tax and I pay less federal tax than if I lived in Canada. For me, it has worked out very well. Even if you are struggling in Canada I suggest looking into retirement elsewhere. It is a lot cheaper to live in the EU than in Canada even though I was told I was told I could not afford to live there. I have friends who have retired to Mexico and other countries in South America and said they are not sorry either. It does not cost anything to go online and check and do your homework. You would be very surprised. Canada has become a Sh*thole under this Liberal government.

@lattakia3812

Ай бұрын

How do you declare that you've become a nonresident?

@starchild890

Ай бұрын

Canadians just can't comprehand who bad they are fucked over with taxes and the health care. They are so worried about the health care which is not great at all and almost a lifesaver to avoid it having all these import doctors....

@jessd4048

Ай бұрын

The problems of Canada today have as much to do with the conservatives as the liberals. It’s rich to retire into the social democratic european system and complain about liberals who are in many ways to the right economically of any number of european nations…

@wizardgaming669

Ай бұрын

We moved to Czech Republic and saved thousands.

@marieleclerc646

Ай бұрын

@@lattakia3812First line on your income tax - Were you a resident of Canada as at Dec. 31? No.

This is amazingly clear and succinct! I've never heard CPP/OAS/GIS explained so clearly. Thank you!!

@wellbuiltwealth

8 ай бұрын

Oh wow! Thanks :)

What is very important when you leave Canada, make sure you apply for OAS before you leave. My wife and I left and it took 4 years to get her OAS. The government drags its feet wants you to fill out 21 pages of reasons why you left and will not communicate with you. They even ask the country (my wife) where she is from and contract Germany to ask permission to give this OAS to us. Yea, get your pension before you leave.

@wellbuiltwealth

9 ай бұрын

Wise words.

@Gurkha9

9 ай бұрын

That's a potential issue for those that are planning leave long before becoming eligible for OAS

@wellbuiltwealth

9 ай бұрын

@@Gurkha9 Yes. Great point.

@Backtoreality1873

9 ай бұрын

Great tip Thankyou!

@georgezuwala7075

9 ай бұрын

What age can you start to apply for OAS? don't you have to be 65?

The main reason most of use want to retire in another country (besides the weather) is because we can't afford to live in Canada. If you qualify for GIS you're poor as dirt in Canada. Makes no sense people are disqualified from GIS if you don't live in Canada.

@ddb0831

Ай бұрын

Makes perfect sense. GIS is a supplement for resident citizens of Canada based on the COL in Canada, not Germany or other foreign countries.

@ddb0831

Ай бұрын

Makes perfect sense. GIS is a supplement for resident citizens of Canada based on the COL in Canada, not Germany or other foreign countries.

@ddb0831

Ай бұрын

Makes perfect sense. GIS is a supplement for resident citizens of Canada based on the COL in Canada, not Germany or other foreign countries.

@JS-jh4cy

Ай бұрын

It makes sense the government doesn't give a shit and doesn't want to pay out pension money, so they invented the gis clawback

@secretagent86

17 күн бұрын

With proper tax planning one can get GIS if not dirt broke. Assuming no work pension but savings in rrsp. Take $2k per year rrif (not rrsp) age65. Use tfsa savings between ages 65 and 71 keeping taxable income super low.

Really good advice thanks. To avoid all this simply go on longer vacations. Canada is a slice of heaven on earth. Don’t leave!! 😊

@andylabrosse2421

11 күн бұрын

governments change every 10 years too.

Bravo. The Best video that I have seen on KZread that I ever come across which explains in a nutshell retiring abroad with CPP & OAS. Many Thanks for your time. Congrats on 10K subs. ..!!!

@wellbuiltwealth

9 ай бұрын

Wow, thank you!

Clear concise explanation. Thank you

I was looking for these information for a long time

Just came across your channel. Very informative, thanks. I subscribed.

Thank you. This is very helpful👍

Thank you for the info!

Wow. This was helpful. Can't believe there is help for Canadians out there.

Wow! I have watched countless videos on this very topic, and yet you have included a few very interesting facts that I had never come across. Thank you and well done.

Thank u thats all I wanted to know u answered my questions.

Thank you , very good information.

Great video! I think by the time I retire many of these rules just might change!!

I know it was 8 mos ago but this was super helpful. I left Canada just before my 40th birthday to move the USA. I am now in my early 50’s and paying much more attention to retirement planning.

Yeah.... You're back! Enjoy your videos and thanks for creating them.

@wellbuiltwealth

9 ай бұрын

Thank you!

Very helpful, thank you

Romania has a treaty agreement on social security where it says you have to have equal rights with Canadians including GIC

Great job Rhys!

@wellbuiltwealth

8 ай бұрын

Thank you :)

Thx for upload 😮

Well done!

thank you for this content

@wellbuiltwealth

9 ай бұрын

My pleasure!

Thank you!

Great video.

We were officially "Deemed Non Residents" while still in Canada, just before we retired to Mexico. Our CPP and OAS are deposited after tax into our Canadian bank. Since there is a tax agreement between Canada and Mexico, we are taxed federally at 15%. That includes my wife's super annuation. Given that we don't owe the tax man and the tax man doesn't owe us, we haven't filed in years, nor do we have to.

@simonamoste3668

13 күн бұрын

Treaty agreement between Romania and Canada it is said that even on territory of Romania you are entitled of GIC and if on territory of Romania is considered being on canada

Thanks for uploading. Really appreciate the info provided and how well you present it. Cheers

@wellbuiltwealth

9 ай бұрын

You’re welcome. And thank you!

@lesliejackson149

8 ай бұрын

​@wellbuiltwealth I was following another channel but... my eyes would glaze over... quickly! Stumbled upon one of your videos and... unsubcribed the other and subscribed here! Thank YOU for explaining in everyday people lingo. I'll certainly share it with friends.

@wellbuiltwealth

8 ай бұрын

@@lesliejackson149 Well, I think that might be about the best compliment I could get. Thank you!!

@lesliejackson149

8 ай бұрын

@wellbuiltwealth Your welcome. The truth doesn't always hurt. Sometimes, it gives you a pat on the back.

@MsRosehip

20 күн бұрын

What about medical services?

Very interesting and informative. My wife is Colombian and we are looking to retire to Colombia when the time comes.

@wellbuiltwealth

8 ай бұрын

Sounds awesome!

@davidrockefeller2007

Ай бұрын

Sounds dangerous but super affordable.

This man sounds like he knows what he's talking about. So after 1 video watched, I subscribed. Will be digging into your channel for more post retirement help, thank you.

@wellbuiltwealth

17 күн бұрын

Well, thank you sir!

Very concise and clear. Thank you!

Excellent video content!! I still have 25 years to retirement but this video surely gives me a nice perspective in terms of planning and deciding where I want to go… good to know the country I was aiming at signed a tax treaty with Canada. Hoping it stays that way 25 years from now 😂

Was considering moving back to Scotland when i retired and wondered about this

@zx7gp

Ай бұрын

Don't!! They have new hate speech laws and they seem to be under the spector of the WEF.

Great video

Thank You

100% agree! My husband and I have already purchased our home in Italy… now we are just putting in the time at work until we can leave…

@Gypseygirls

7 күн бұрын

Change may come tho Governments pay might not go into your account to support another country..

@cherylbower6639

7 күн бұрын

@@Gypseygirls it’s already well documented. In Canada government and private pensions are transferable. You cannot deny a Canadian citizen their earned pension . That’s the definition of communism.

@cherylbower6639

7 күн бұрын

@@Gypseygirls also, you continue to pay Canadian taxes on your Canadian income despite where you live

Another outstanding Video. To the point and no .....

Good. Thanks,

Kewl vid Rhys! You da man!

@wellbuiltwealth

27 күн бұрын

😚

Interesting. As an aside. Something most have not considered because they are too wrapped up in living abroad is aging. I know of family that retired abroad and loved it. Now in their final years they decided to return home. There are many factors why. No family, friends have moved or passed, healthcare is not adequate for their needs, being not fluent in the local langauge, etc.... Eveythings all roses until it' not.

@tudvalstone

17 күн бұрын

Canada - easy to leave, hard to come back. Esp. when on a limited budget and let go of your rent control apt.

With the release of the budet I'm rethinking my plans. And i was intouch we a family member that just did there taxes and they owe 690. At the age of 85 . I guess that's the thank you for working and never taking a penny of government money

@kkostadinof

25 күн бұрын

He owed $690 because he had high enough income that it became taxable and the income tax deducted was just a downplayment, not covering the whole tax liability.

When I was preparing to retire I visited the local Service Canada office for information. The information they provided was quite informative, they said to talk to my bank.

@wellbuiltwealth

Ай бұрын

Sheesh!!

Explain the Feb. '24 changes to OAS - If you haven't done so already. Also, the pros and cons of retiring overseas. In my situation I keep returning for 183 days in Canada just to get GIS. Otherwise I would kiss goodbye the high cost of rent. Never understood why OAS is affected by which country one retires to. Or why one is not eligible for GIS when one retires to Istanbul or Bangkok. Aren't we saving tax payers the cost of infrastructute and healthcare? Most of all, I do not understand why GIS is not assets (versus income)-dependent. I get it but see it as welfare for seniors.

Thank you

As you stated, If OAS is a social program, then yes I am entitled to it. Since all social programs are based on taxes, which I have been paying all my life. Hardly seems fair that those that do not pay taxes still get OAS.

Much needed info. Thank you for the information. So we'll explained

My parents was getting about $1000/month each in OAS+GIS while living in Canada, got just $360/month when they moved back to Hong Kong. Now that they've returned back to Canada 7 months ago, they are still getting $360/month. I speculate they will need to stay in Canada for at least 1 year before they can apply to have their OAS+GIS readjusted.

@valeria-militiamessalina5672

4 ай бұрын

GIS is only payable if residing in Canada for at least 6 months a year, it's residency based.

My aunt was born in England and she had to become a Canadian citizen and was here for 60 years.

I went through this process moving from Ontario to Florida as a dual national. I receive both CPP and OAS. My OAS is 60% since I didn't live in Canada for 20 years after age 18. I had to go through the evaluation process by the Canadian government. I also proved non Canadian residency for tax purposes. On hiccup was l left Canada Jan 7 2022 so I had to pay partial Canadian federal taxes for 2022. For 2023 I pay no Canadian federal tax and show my Canadian income on my USA taxes. It's sad how little CPP and OAS are. In the USA social security can be $3500 per month if you paid the max. You pay no federal tax on SS and you can earn up to 50% and still pay no tax. So I pay no federal taxes and there is no state income tax in Florida. I do miss the snow.

@adenicol9569

29 күн бұрын

We have to wait 2 years from now to complete 20 years living in CA. Do u think is worthy to wait those 2 years? Are they calculating day by day? I mean minus vacations days when we were out of CA?

Thanks for this, so if you are planning on living abroad in a country that does have a tax treaty but does not appear on that second list you showed (say Italy or France), it means the treaty doesn't apply to, or cover the clawback?

Thanks for all this great info. My understanding is that when living abroad and collecting pension, you keep paying federal income taxes but no provincial tax. Only if you no longer own any property or assets (I.e. vehicle) in Canada. Any truth to that? I’m told since you’re not using the provincial level services like healthcare, you don’t pay provincial taxes. But you keep paying federal taxes as a Canadian … would like to know 👍🏻

Thanks! Wasn't there a six month thing?

Great video 🎉 How much tax should one pay on rental income after becoming a non resident if that was their only income?

That is some great info. What do you think about segregated funds being part of retirement planning? Many advisors are recommending these to take care of taxes. Thanks.

@wellbuiltwealth

8 ай бұрын

Thanks! They have a time and place. Usually pretty high fees though so it definitely needs to be the right situation.

As an immigrant you need to have stayed in Canada 20 yrs to receive the OAS abroad. If you stayed abroad for 10yrs before reaching 65 are those years counted in the number of years after coming to Canada or do they calculate the number of years you are physically in Canada.

I am a veteran with medical pensions and other benefits through Veterans Affairs Canada (VAC). When I was 59.5 I was encouraged to take my CPP early at 60, which I did 1st cheque arrived in Feb 2014. The downside was VAC contacted me IN JUNE 2014, and told me I owed them money (clawback) for the amount i had receiving for CPP. They reduced my benifits for the amount I was receiving for CPP. I never applied for OAS as it was the same deal with clawback for OAS. I contacted VAC in 2023 about moving back to Scotland (out in Canada on my own) got old and broken lol 😂, asked if there was any problems with doing that, they said I would lose 50% of my total (medical pensions/benefits) income, I’m assuming they meant Benefits rather than pensions?. Shelved moving out of Canada due to the potential financial loss.

I am Canadian of 16 years and planning to relocate to Cyprus. Because I have not lived ion Canada for 20 years my OAS and more importantly my GIS will stop after 6 months living in another country. I see that Canada has a social agreement with Cyprus so there may be creditable periods to bring it up to 20 years. I also see that there is a maximum period for "initial detachment' for Cyprus and it is 24 months. What does this mean??

ya why are they docling me on my comp when i have to go fer therpy that costs money

I was on board until he said contact Service Canada and they'll help you.

@wellbuiltwealth

Ай бұрын

😂

@hercc6155

29 күн бұрын

Who will approve or who will process your paper works the postman??

I have a friend in Australia who lived in Canada for 12-13 years, he receives OAS and CPP, so 20 years is not a requirement. And he didn’t apply for OAS, they found him.

@adenicol9569

29 күн бұрын

20 years is not a requirement? Are u sure? We are waiting 2,4 years to make 20 years...but we will go tomorrow if it's right that 20 years is not a requirement to get OAS

@keninvic2627

28 күн бұрын

@@adenicol9569 absolutely sure, but he does get a reduced amount because he was 7 years short of the 20. But why are you waiting anyways, he never even applied, I was there in Sydney when he received the letter from OAS. I was very surprised that Canada sends OAS cheques around the world, CPP of course, you and your employer contributed to CPP. Thing is, he didn’t apply for it, they found him, I had to explain what OAS is.

Becoming a nonresident of Canada has been very painful for me. Initially, I lost my TFSA without realizing it, and the CRA imposed a $20,000 penalty on me. Subsequently, I mistakenly continued my HBP payments, resulting in a $4,000 penalty by CRA. Furthermore, the CRA requested repayment of all PSD and GSD benefits I had received after becoming a nonresident. To add to the challenges, my OHIP health plan was canceled. Now, after 8 years, I am moving back to Canada..

@doruolaru7221

Ай бұрын

Hi, what do you mean you lost your TFSA? You lost all the money in it?

@Alex-dw9im

Ай бұрын

I contributed to my TSFA after becoming nonresident, CRA contacted me and made me close my TSFA account plus 20k penalty which I had to pay to CRA. I found a way to save myself from paying penalty

@bornfree1888

Ай бұрын

What is that penalty for?

@Alex-dw9im

Ай бұрын

@@bornfree1888 %1 a month for over contribution, bank reports activity to CRA, they come up with penalty that nobody can understand,

@Alex-dw9im

Ай бұрын

@@bornfree1888 Overcontributing costs you %1 a month. Your bank will inform the CRA and CRA does its calculation which nobody understand.

Yes, we are thinking to move out of CA but not yet 20 years. Better to wait, right?

I cannot wait to LEAVE Canada permenatly!

@jorgemarquezmedina7942

8 ай бұрын

Me Nether ❤

@petewick8627

2 ай бұрын

I did.

@mihaeladog7187

2 ай бұрын

Me too , and thanks God my country is in that list 🎉🎉🎉

@Spirit_Bear2

Ай бұрын

And which country were you thinking about living outside of Canada 🇨🇦?

@petewick8627

Ай бұрын

@@Spirit_Bear2 there are a lot to choose from

what those 36 or 60 months exactly mean, please, thank you

As of this month (April 2024), Costa Rica is not on that list. Dammit!

@Cuprum46

Ай бұрын

Neither is Panama. Yaiks

@adenicol9569

29 күн бұрын

Where I can see the list of those countries?

How long do you have to stay back in Canada to keep qualifying for the pissing gis. Every 6 months a year?

What about military and veteran affairs pension

Me I want out too!!

I considered retiring abroad, but I couldn't go through with the operation.

Hi love your video series. Have 1 question im retiring abroad to a non tax treaty country, all the withholding tax for CPP OAS AND RRSP, do i get most of it back when i file my income tax return. Also if i fill out form 217 and NR5 do i get most of the withholding tax back

@wellbuiltwealth

8 ай бұрын

Thank you! However, I don’t know your whole situation and I’m not a specialist in this area so I’m sorry but I can’t answer that one for you.

What happens if my hubby passed away and he only worked here in Canada for 6 yrs. I was denied cpp survivors benefits. What happens to his contributions thru the yrs? Am i still entitled for that 6yrs he contributed? We have 3 kids together. Pls help thank you

Thanks so much for this information. I just want to know, if we are required to spend some time in Canada each year, in order to keep receiving the OAS benefit, considering that we have completed the 20 years requirement. This would be an inconvenience, in many ways..., I appreciate your comments

@wellbuiltwealth

22 күн бұрын

Thanks. And nope. See the section starting at 2:24.

@marcelaespinosa1407

22 күн бұрын

@@wellbuiltwealth Great! I appreciate your prompt response.

If someone retire in USA does he or she need to stay 6 months in a year i n Canada to get OAS?

As for OAS, strange that Australia is not on the list yet Ireland and the UK are.

@keninvic2627

28 күн бұрын

As I said here earlier, Australian citizens that lived in Canada are in fact getting OAS.

@a.c.e.7568

27 күн бұрын

@@keninvic2627 Good to know as I might move to the Gold Coast where I have a unit. Plus the Oz exchange rate helps compared to the EU (1.5) and the USA (1.4) on the Canadian dollar. Plus I have my Dan Murphy's discount card, what more does one need?

@keninvic2627

27 күн бұрын

@@a.c.e.7568 I was visiting my friend in Manly in 2019, he was 69. He had a letter from the Canadian government asking for information. He said, “they want more information or they are going to stop paying my CPP”. I looked at the paperwork, no, it is asking you for more information because you have not applied for OAS and as soon as you return this form they will pay you OAS. He had to decide if he was going to take a lump sum payment for the period from 65-69 years of age, or commence his OAS now and receive a larger monthly payment. He had no idea what OAS was but automatically qualified as he receives CPP. I had no idea that Canada sends OAS cheques worldwide.

A bit off topic. Can I keep my TFSA account when I leave Canada? Or do I have to close it prior to leaving?

@wellbuiltwealth

Ай бұрын

You can keep it!

@keninvic2627

28 күн бұрын

You can keep it, BUT, you may not want to if you are paying tax in another country because that country may charge you capital gains on proceeds from your TFSA.

@GarthVonMaraner

18 күн бұрын

@@keninvic2627 May I add that we're not supposed to contribute further to the TFSA while non resident for tax purposes, otherwise a penalty will be imposed by the CRA.

@keninvic2627

18 күн бұрын

@@GarthVonMaraner good point!

How in the wide wide world of sports can Canada not have a social agreement with the UK????

Hello there, Another very interesting video.... I was wondering if you can suggest someone that could help with cross border taxes? David is my name and I intend to retire in Portugal, so that person should be someone that be familiarized with Canada/Portugal retirements.... Thanks in advance

@wellbuiltwealth

9 ай бұрын

Thank you! But unfortunately, I do not have someone I love in this space. Yet…

I was thinking of moving too Hawaii when I turn 65 . I have been collecting my CPP since I turned 60 and I’m still working when I turn 65 I get a company pension I will be at my 40 years of at the company so would I still get OAS with my company pension . I only make 48,000 for the year .

@carolinacadabra8278

8 ай бұрын

Not sure 48K would get you vert far in Hawaii. It’s pretty expensive there and our Canuck buck won’t buy much.

@LollyB1963

8 ай бұрын

Well I’m glad I was informed thank you .. I have a friend that lives there and he invited me out there to visit ..Still nice too visit I guess

Why am I paying 25% witholding tax when Canada has a tax treaty with Brazil!

@Elcomendante64

Ай бұрын

Look up the treaty. It must contain a relieving provision to reduce the rate. If not, it’s 25%.

what about the GST rebate and the carbon tax rebate if you are out of Canada?

@colingoldthorpe5918

Ай бұрын

As long as you file taxes you receive it. My son is in China at university and he’s received it since it started. But we file his Canadian tax return every year since he left 🤷‍♂️🤷‍♂️

@kkostadinof

25 күн бұрын

@@colingoldthorpe5918 So you basically lied that he is still a resident if he emigrated permanently.

@visnjalivancic3953

18 күн бұрын

​@kkostadinof he is Canadian citizen anyway, dual citizenship

@kkostadinof

18 күн бұрын

@@visnjalivancic3953 Being a citizen doesn't entitle you to a GST credit, being a resident does.

About people who are disabled and receiving odsp after 65?

There are many collecting GIS illegally outside of Canada. To qualify many babysat their grandkids from their retirement in their country and sponsorship in Canada. Didn't really work with pay for the 10 years to qualify for OAS and hit 65 or in many cases 66 or 67 due to many trips out of Canada to return HOME. Thus 12 years to get 10/40 of max OAS. Without any apparent income as their money is hidden they get the huge GIS . Few get it. Not too many Canadians hit 65 without some income. But foreigners do And there are rules about taking GIS while living elsewhere.

What is the Allowance? My parents are living CPP,OAS & GIS and I don't think I have heard of this allowance.

@wellbuiltwealth

Ай бұрын

You can find out more here: kzread.info/dash/bejne/na6mxJWqodmopag.htmlsi=eaGliZj53dXWMeNt

if I retire to Argentina in 2025, my CPP and OAS will not be available to me?

@sisokaspari3923

23 күн бұрын

Im planing to olso retire in Argentina,, next year i wander wat implications I face,

To collect CPP in Thailand will I need to return to Canada and stay here for any specific number of days?

@keninvic2627

28 күн бұрын

No, it is YOUR money, you and your employer paid into the CPP. You don’t need to be in Canada to collect CPP.

Thank you much! retiring in 2024 and retiring in my native country. my native country have a social security agreement with Canada but have a dual citizenship. I can receive CPP, GIS (24yrs+ employed in Canada) N OAS when retiring in my native country, right? Planning on a farm business there too.

@wellbuiltwealth

Ай бұрын

Good work! But you cannot GIS if you’re a non-resident.

@tinkerpertao8383

Ай бұрын

@@wellbuiltwealth wow! thanks much 4D reply. as you mentioned, CPP OAS GIS not enough (apartment rent alone takes about 2/3 of my CPP OAS GIS total budget) hence retiring in my native country.

I retired & have been receiving CPP, OAS & GIS wit automatic deposit. I plan to vacation/live outside Canada (China) for 5-6 months during Winter season. Do I have to tell CRA & Service Canada ? can I still receive my CPP, OAS & GIS during those time I’m out of country ?

@wellbuiltwealth

Ай бұрын

As long as you’re a resident of Canada it shouldn’t be a problem at all. But you may want to contact service Canada to give them the specific details and see what they say just to be safe.

How can I live abroad and receive my pension. I live in Quebec now

I am almost 55 and will be switching careers to be able to work from home/work longer! I will be spending part of the year in the US with my partner and part of the year here in Canada. I wonder how my pension will work doing this?

@wellbuiltwealth

9 ай бұрын

Awesome! As for the pension, I’d have to know more to able to speak competently about it all. Which is exactly the kind of thing we do for our clients :)

@stuarthutt3740

Ай бұрын

Keep detailed account of day of arrival and departure in both countries. When I moved to Florida in 2022 I found both cpp and oas extremely helpful when I called them.

@adenicol9569

29 күн бұрын

​@@stuarthutt3740For 20 years are they calculating day by day - I mean if they consider vacations days spent away of CA

@stuarthutt3740

29 күн бұрын

@@adenicol9569 it depends where you are a resident. I left Canada to live in France and the USA since I wasn't a resident during those years outside Canada. I worked with OAS to establish those dates approximately. If you are vacationing it doesn't count. Now I am a dual national and have filed non resident of Canada paper work so not to pay Canadian taxes but I still receive OAS and CPP.. I have a friend in Toronto that has a house in Phoenix that keeps track of days in USA since you are only allowed 6 months in usa per year as a Canadian.

lived experience 2024 : I am retiring in Europe, in return income Canada takes 25% of my Canadian retirement, so even if your retirement is 500.1000 per month, " income Canada" will take 25% of the amount. Not fair!

@hercc6155

Ай бұрын

25% deducted to pension 25 % deducted to OAS that’s the rule I suppose

@fern8580

Ай бұрын

@@hercc6155 that's the rule ? Having 25% of the fruits of your life's work stolen! you are really a Canadian socialist-communist

@kkostadinof

25 күн бұрын

It's called withholding tax. File a Canadian tax return and you may get some of it back depending on your Canadian income.

@fern8580

24 күн бұрын

@@kkostadinof Thank you very much, I see for once that the comments on KZread bring added value and not just lol, ah! oh! wow! wonderful! I have no income in Canada, I have now put everything in Europe...But see, a system which obliges you, as a simple citizen, to be on the lookout for the 12,000 laws of "revenue Canada", which obliges you to produce declarations when they know that for 10 years you have no more income, it's the pot of earth against the pot of iron, it's the end of the free movement of Canadians, he's an authoritarian socialist, made up of a multitude of small state civil servants, a administrative nightmare for the elderly.

@Gypseygirls

7 күн бұрын

You might not get your government pay, to support another country..change is coming..

I am a Quebec resident and I am planning to retire and go live in China with my wife. I am looking for an immigration specialist who can help me plan everything…Can anyone provide me with reference ?

So pretty much an immigrant who lived and worked in Canada assume 30 years upon hitting 65 will get OAS and CPP and thenapply and move to his her home country to retire as the money will be enough to live there. Worth more money..Right?

@wellbuiltwealth

28 күн бұрын

Probably. I can’t speak to the specifics of your situation but that all sounds about right.

Hello Sir Thank you for your these wonderful informative videos. I follow all of them. You are one the best.❤ Quick question: how long we can stay outside of Canada after we receive our retirement benefits? What will happen if we stay more than 6 months? Please advise.🙏

@wellbuiltwealth

8 ай бұрын

Thank you! You should always check your specific situation with Service Canada but there shouldn’t be a time limit.

@patacon54

Ай бұрын

That was my question, we are spending around 5 months in the Caribbean, we met a fellow from Ontario and he told us they reduced his pension because he stayed longer than the 6 month mark outside of Canada

So what happens in Alberta Canada if we pull out of CPP and start our own APP. Do I still get CPP and can I still move out of country.

@Gypseygirls

7 күн бұрын

Don't leave..you probably will might not get government pay while living and supporting another country...change is coming, be careful..

Can you remain abroad or do you have to the six months in Canada, six months abroad. How are things taxed if CPP/OAS are your only forms of income?

@kkostadinof

25 күн бұрын

The 6 months is more about the provincial health insurance coverage, not income tax. IF you don't have enough ties to Canada, you can still be deemed a non-resident for tax purposes.

@frankfaubert1927

25 күн бұрын

@@kkostadinof Thank you.

Sent email to you to confirm your information disillusioned dealing with CRA given the run around nightmare scenario!

What exactly is withholding tax?

@GarthVonMaraner

18 күн бұрын

It's money automatically withheld for or by the CRA and is considered a final tax on your income (for example CPP, OAS, Interest income, etc) regardless if you are supposed to owe more or supposed to pay less.

How many days in a year you have to be present in Canada to be able to collect gis?

@bjtowns9554

Ай бұрын

183 days.