What to Know About Living Outside Canada for Over 6 Months
Discover the implications of living outside Canada for over 6 months, including health insurance and tax status.
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If you live outside of Canada for more than 6 months, you may lose your health insurance coverage and be required to reapply upon return. Additionally, you could be considered a non-resident for tax purposes, affecting your income tax obligations and benefits. It's crucial to consult with tax and legal advisors to comply with all regulations and maintain your benefits and status.
FAQs & Answers
- How does living abroad affect my Canadian health insurance? Living outside Canada for more than 6 months may result in the loss of your health insurance coverage.
- What are the tax implications of being a non-resident in Canada? As a non-resident, your income tax obligations and benefits can change significantly, making it essential to consult a tax advisor.
- Can I maintain my residency status while living outside Canada? You may need to return to Canada periodically or meet specific criteria to retain your residency status.
- What do I need to do before moving outside of Canada? It's crucial to consult with tax and legal advisors to understand the regulations and ensure compliance with both health and tax requirements.