PASSPORTS and taxes... etc..

Important information and documents that we are going to need along the way will need to be collected, updated or renewed every once in a while. It is a good idea to start assembing these sooner than later as they might be needed to help out with residency applications. In our research over the past year we have found that it would be good to save records of: medical history, medicines, doctor contact info, work history, work resume, accurate records of where you have lived (some countries want it from age 16), driver's license, passport, credit cards, your most recent tax return as reference, banking information (accounts, access codes, RSP numbers, etc.), important contacts, affiliations with clubs or professional associations.... etc.

Watch expiry dates of passports and driver's licenses as they sometimes won't let you renew them unless they are within certain expiry time frames. Being away while they expire won't be very helpful and renewal from another country might be difficult so we might need to try to time it right.

Some countries have a tax treaty with Canada. It appears at this point in time that it will be of benefit to us when tax time rolls around again. As a non-resident for tax purposes (183+ days out of Canada per tax year), people are subject to tax under Part XIII of the Income Tax Act at a flat rate of 25%, unless there is a treaty. Countries with treaties are listed in the CRA site and a special tax return is needed for non-residents.

Section 217 of the act allows non-residents to apply for a reduced tax to correspond with the tax treaty amount listed for that country, and the tax can be deducted or withheld at the source (RSP income, superannuation pension, CPP, OAS, other incomes and it includes death benefits...). If done correctly it could mean that we would never have to submit another tax return to Canada while we enjoy your new residency in our new home country. There is a special form that needs to be filled out (really...? I never would have guessed...). Definately something worth exploring. :-)