Top Things to know Before Moving to Canada
                     Top Things to know Before Moving to Canada
https://www.maroofhs.com/tax-services-canada/personal-taxes/
Canada is a top immigration destination for people across the world; 
both from developing and developed countries. There are many 
positive sides to immigrating to Canada.
One of the areas where all the new immigrants dread while coming 
to Canada is “Income Taxes”! Yes, individual income taxes or 
personal income taxes, are extremely high in Canada as compared to 
the neighbouring United States. This is even higher for those coming 
from the middle eastern countries with no income taxes at all.
So if you are moving from a country where there are no income 
taxes such as the United Arab Emirates or other gulf countries, you 
must prepare yourself to start paying income taxes.
You can take a couple of steps before immigrating to 
Canada such as:
1. Establish your date of change of residency. Tax residency and 
immigration residency are two different things.
2. Try to realize Capital gains before the date of immigration. If not, 
arrange for the fair market value of all of your assets as of the date 
of immigration.
3. If you are doing a soft landing, do not apply for a health card or 
drivers’ license.
4. Do you have retirement plans in the country you are leaving? 
Maintaining them may have tax implications in the future. For 
example, if your employer is contributing to them, it may restrict 
your ability to contribute to RRSPs.
A quick list of tax tips for new immigrants can be found here i
n this post written by a Toronto based CPA firm
.
It may sound overwhelming when considering different income 
streams to maintain while immigrating to Canada. If you have a 
substantial foreign income on which you are not used to paying 
income taxes in your current country, you might be shocked by how 
much tax you will have to pay in Canada. Canada taxes its residents 
on the worldwide income.
The best way to approach this to seek professional income tax advice 
in Canada and request a planner income tax return. A planner 
income tax return runs multiple simulations for different tax 
scenarios and can be a helpful tool in personal income tax planning.
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