TRUSTED BY CANADIAN CITIZENS WORLDWIDE.
THE ACCOUNTANTS OF CREATIVE INDUSTRY PROFESSIONALS AND COMPANIES
We are an expert team of accountants dedicated to solving Canadian tax challenges. We are specialist in meeting the tax planning and compliance needs of Canadians citizens living within Canada and abroad. Our extensive knowledge in all matters surrounding Canadian tax allows us to save our clients thousands of pounds against tax every year.
At Bambridge Accountants, we understand that each client is different We therefore tailor our service to match clients individual needs and wants.
EXPERT IN SAVING YOU MONEY AGAINST TAX
Our London Office
7 Henrietta Street
London, WC2E 8PS, United Kingdom
our Canadian office
422 Richards Street, Suite 170,
Vancouver, BC V6B 2Z4,Canada
OUR US OFFICE
85 Delancey Street, Floor 2, New York, NY 10002, USA
Our extensive Canadian tax knowledge has been recognised and published in several reputable publications that include, but are not limited to:
MEET OUR CANADIAN MANAGEMENT
An award-winning author and chartered accountant with over 15 years experience. Alistair established Bambridge Accountants in 2010 after realising the lack of expert creative industry tax support accessible for creative industry professionals and companies.
Dedicating his practice to supporting creative individuals and companies, Bambridge Accountants is able to provide expert advice on areas including creative industry tax relief, the Seed Enterprise Investment Scheme (SEIS), and research and development tax relief.
With recognition throughout the industry and further; Alistair has been listed in Spears 2018, The Independent, The Financial Times, Forbes, The Times and much more.
CANADIAN EXPAT TAX
Our chartered Canadian expat tax accountants work with thousands of Canadian expats every year on their tax returns. We are experienced with all types of the tax circumstances and complexities that often occur with US expatriate tax.
As renowned specialists in Creative Industry Tax we are able to use our exclusive industry tax knowledge to save you thousands against tax.
WHAT ARE YOUR CANADIAN TAX OBLIGATIONS
As a Canadian Citizen there are a number of instances where you may need to file a tax return. Follow our guide below to determine your tax obligations:
Factual Resident of Canada
A factual resident is regarded as someone who maintains significant residential ties to Canada while living or travelling outside of the Country.
Situations where you are likely to be considered a factual resident of Canada:
- Working temporarily outside Canada
- Teaching or attending a school in another country
- Commuting (going back and forth daily or weekly from Canada to your work place abroad.
- Vacationing outside of Canada
- If you spend part of your year in the abroad
Your tax obligations as a Factual Resident of Canada:
As a factual resident, your income is taxable by the CRA.
Therefore, you must continue to:
- Report all income you receive from sources inside and outside of Canada for the year and claim all deductions that apply to you
- Claim all federal and provincial or territorial non-refundable tax credits that apply to you.
- Pay federal tax and provincial or territorial tax for the province or territory where you maintain residential ties
- Claim any federal and provincial or territorial refundable tax credits that apply to you
Foreign tax credit
To reduce your tax owed, you may be entitled to claim foreign tax credit (FTC) on your Canadian income tax return if you paid on income or profits to a foreign country on income from that country that you report on your Canadian return.
The FTC may reduce the federal and provincial/territorial tax you have to pay on foreign income.
In order to claim foreign tax credit you must complete a Form T2209, Federal Foreign Tax Credits and attach it to your return.
DEEMED RESIDENT OF CANADA
A deemed resident of Canada is where you live abroad and sever all of your residential ties to Canada, but are still considered a resident for tax purposes.
You are likely to be considered a deemed resident of Canada if you fall into any of the following situations:
- You lived outside of Canada during the tax year, you are not considered to be a factual resident because you have no significant residential ties, and you are a government employee, a member of the Canadian Forces including the overseas school staff, or working under a Canadian International Development Agency (CIDA) assistance program. This could also apply to the family members of an individual who is in one of these situations.
- You sojourned in Canada for 183 days or more during the tax year, do not have significant residential ties with Canada and are not considered a resident of another country under the terms of the Canadian tax treaty.
Your tax obligations as a deemed resident of Canada:
- Must report worldwide income for the entire tax year period
- Claim all deduction and non-refundable tax credits that apply to you
- Are subject to federal tax and instead of paying provincial or territorial tax, you'll be required to pay federal surtax
- Can claim all federal tax credits, but you cannot claim provincial or territorial tax credits
- Are eligible to apply for the goods and services tax/harmonized sales tax (GST/HST) credit.
Non-Resident of Canada
A Non-Resident of Canada is someone who is permanently living abroad and has no residential ties to Canada.
You are likely to be considered a non-resident for tax purposes if you:
- Normally live in another country and are not considered a resident of Canada
- Do not have any significant ties to Canada
- You live outside of Canada throughout the tax year
- You stay in Canada for a less that 183 days during the tax year
Your tax obligations as a Non-Resident of Canada
- Pay income tax on income you receive from sources in Canada
- Generally Canadian income received by a non-resident is subject to either Part XIII tax or Part I tax
Canadian Expat Tax Service
We cover an end-to-end tax service for Canadian Expat Individuals and Businesses. With over 10 years experience and thousands of happy clients, Bambridge are expert in saving Canadians the maximum amount of money against tax.
Our highly-trained, expert team of Canadian personal tax accountants are dedicated to delivering a accurate and timely service that minimises tax owed while keeping clients in line with their tax obligations.
We can assist all personal tax filing obligations and matters for individuals living inside- and outside- of the Canada.
Do you need to file a tax return?
Do you need to file a tax return?
You are required to file a Canadian tax return if:
- You are required to pay tax.
- The CRA sent you a request to file a tax return
- You and your spouse or common-law partner elected to split pension income.
- You received working income tax benefit advance payments during the tax year.
- You disposed of capital property during the tax year, or you realised a taxable capital gain.
- You are required to repay any of your old age security or employment insurance benefit
- You have not repaid all amounts withdrawn from your registered retirement savings plan under the Home Buyers' Plan or Lifelong Learning Plan.
- You have contributed to the Canada Pension Plan.
- You are paying employment insurance premiums on self-employment and other eligible earnings.
Most income tax and benefit returns are due on or before April 30th of each year.
Self-employed workers and their spouse/ common-law partner have until Jun 15th to file their return. Although, any balance owed for the tax year must be paid on or before April 30th to avoid interest.
If during the tax year, you or your spouse/ common law partner carried on a business whose expenditures are mostly for a tax shelter, you are required to file your return by April 30th at the latest.
If you are required to file a tax return for someone who has deceased during the given tax year, the due date for their return will depend on the date of death and whether the person owned a business.