You are here:

Mexico/Canadians Living in Mexico as non-residents (tax advantages)

Advertisement


Question
I am interested in the possible tax advantages for Canadians living in Mexico full time as nonresident Canadians. Please suggest reading material and contacts.  

Answer
Hola Bob: I can not recommend directly any advisors on non-residency. Your accountant might know someone in the business. But you really need to do a lot of the research yourself. We did it all ourselves. I have yet to meet an advisor that really understands all the rules. For instance we were told that if Canadian income is low, there may be no savings because of the 15% withholding tax. But by filing under Section 217 of the Act you might pay only 8- 10% Canadian Tax.

Reading Material: Canadians Resident Abroad-Gary Duncan and Elizabeth Peck(a very good intro book), search CCRA's site www.ccra-adrc.gc.ca/menu-e.html on RESIDENCY and read their info and forms. Do the same search on the CARP site www.fifty-plus.net/ Take a look at one of the many company's such as www.canadiansinmexico.com, www.expat.ca

I suggest getting a full understanding through your own research before contacting an advisor.

Hope that helps,
   Ron

Mexico

All Answers


Answers by Expert:


Ask Experts

Volunteer


Ron

Expertise

I lived full time in the Chapala-Ajijic area for 7 years, and other areas 5 years. During that time I provided information (health care, working papers, immigration, driving, cost of living, insurance, culture, divorce in Mexico, trusts vs direct deed,etc) to help people make the decision about whether the area was right for them, either full or part-time. I live legally in Mexico.

Experience

Founding partner of a facilitation company for people thinking about relocating to Mexico. I am no longer involved in this company's activities. Have driven extensively, to the coast (Manzanillo, Puerto Vallarta, Colima),to Patzcuaro, etc. Bused to Mexico City, flew to Chiapas. Also driven in Honduras, from Ontario Canada through border crossings at Laredo and Reynosa Texas. Can provide instructions and border crossing info.

Education/Credentials
Retired. I do NOT sell real estate!

©2012 About.com, a part of The New York Times Company. All rights reserved.