Canadian Taxes for Non-Residents

Hillbilly’s not in much of a position to wax technical this week as he babysits budding economists in an oil & gas course in London. There’s a story behind why I’m doing that but it’s nowhere near as interesting as the one you’ve just made up in your head so I’ll let that add to the perceived mystique that is my life. (Seriously, the Bahamas isn’t *that* great.)

In any case, I got tired of counting the number of times the instructor would say “consequently” (at last count, eighty-fi–er….eighty-six). So I went trolling through my old blog for something that was worth repeating to a larger audience. Slim pickings, let me tell you. But found one that has some uncharacteristically useful information. I’ve updated it with some recent experiences as well so for those that read the original, don’t forget to pay for the upgrade.

The topic is tax implications of non-residents working in Canada. It’s specific to the Bahamas, which doesn’t have a tax treaty with Canada. So, let’s start off by coverin’ my hillbilly butt

http://codebetter.com/blogs/kyle.baley/archive/2008/06/17/rehash-canadian-taxes-for-non-residents.aspx

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The cumulative 6.5-cent increase in taxes means the owner of a $250,000 Wilmington home is on the hook next year for $1,131 in county taxes and $831 in city taxes – a total of $162.50 more than last year.

Council members said the city’s 11 percent tax increase looks more severe than it is. Last year, the county incorrectly included exempt properties such as schools in the tax base, leading the council to set the tax lower than it should have, in effect, giving residents a tax cut.

More than 2 cents in this year’s increase is just making up for that error, which wiped millions of dollars of anticipated revenues from the city’s balance sheet, Councilman Jim Quinn said.

“People should be satisfied that we did the best we can,” he said.

The council also chose to increase taxes to fund a $3.2 million plan to pull city salaries in line with the recommendations of a recent consultant’s report, which found Wilmington wages trailed benchmark organizations by an average of 7.2 percent.

Councilman Jason Thompson was the only member to vote against parts of the budget, which was approved in four ordinances. He said it included too many pet projects and not enough cuts.

“Don’t tell me money is the only way to solve a budget issue,” Thompson said.

In other business, council earned applause Tuesday for approving the consent agenda, usually the least contentious part of their meetings.

The vote marked the first use of electronic voting in place of voice votes. Mayor Bill Saffo said Wilmington is the first city in the state to use electronic voting, which makes it immediately apparent to the audience on television how each member voted.

http://www.starnewsonline.com/article/20080617/ARTICLE/806170363/0/news06

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