I am a Non-resident Canadian living in Thailand on a Retirement Visa and my non-residency status dates back to 2013. I have no income except for CPP,. OAS, and a company pension all of which total $28,000 per annum. In February of this year I purchased through my Canadian bank's Web broker.approx $30,000 of AAPL stock. If, for the sake of argument. I were to sell this stock for $40,000, what would be the amount of tax that I would owe Revenue Canada? Thanks in advance for any info you can provide!
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What address do you use for banking and how do you determine you're a non-resident? I think you are but do you have something official?– brianCommented Jul 18, 2015 at 5:35
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Yes, Revenue Canada has me listed as a Non-Resident and I am only subject to Federal Sales tax. I will have to check to see what address the have me officially but my mail comes to my Thai address...now that I think about it, I am paperless but provided with on-line statements, so yes. I will have to see what is on their records besides the new address in Thailand.– Bruce H CrockerCommented Jul 18, 2015 at 10:34
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What federal sales tax? Canada has no such thing, maybe GST, but you don't pay that.– brianCommented Jul 18, 2015 at 16:33
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1 Answer
If you're a non resident then you owe no capital gains tax to Canada.
Most banks won't let you make trades if you're a non-resident. They may not have your correct address on file so they don't realize this. This is not tax law but just OSC (or equivalent) regulations.
You do have to fill out paperwork for withholding tax on OAS/CPP payments. This is something you probably already do but here's a link . It's complicated and depends on the country you live in.
Of course you may owe tax in Thailand, I don't know their laws.
