My spouse and I are Canadian citizens and are currently visiting China. Although we are not residents of China, we are planning to stay here for a minimum of 3 to 4 years before returning to Canada. During these years living outside Canada, we are planning to file our income tax as a non-resident.
1) Will these make us ineligible to apply for non-resident tax status? I am also wondering if any income received from a) A Futures/Commodities Trading Account with a US Broker where the only product we actively trade is Emini Futures; and b) I am also actively working remotely as an Independent Contractor for a US proprietary trading firm to trade Emini Futures while visiting China. If I generate over $100,000 of income annually from these trading activities,
2) Do I have to pay taxes as a non-resident? If I still have to pay taxes for such incomes, what is the percentage I've to pay?
3) Also, will there be any problem with these incomes wiring to my Canadian bank accounts occasionally if I'm qualified to apply for non-resident tax?
Thank you very much for your time to help me with this matter which I'm greatly appreciated your answers to my three questions. If you don't mind, might I ask how much you charge to use your service per a person each year? And how are we going to proceed while we are staying in China?
Meet Leading Tax Advisors
Federal Tax Credits & Incentives Practice Leader
New York, NY
Long Beach/ Park City, CA
Rancho Santa Fe, CA
San Jose, CA