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Post by Dragonsaver on Jun 14, 2005 10:57:20 GMT 7
Would registering in Canada as a Consultant be an advantage or disadvantage??
It would probably help at Income Tax time, but would it make any difference when applying for teaching positions??
I could probably write off some of my expenses against my income in China. Just wondering if it would be worth the bother. I could get my accountant to set it up if it is worthwhile.
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Post by Raoul Duke on Jun 14, 2005 12:15:28 GMT 7
Definitely couldn't hurt, DS. Could especially help getting those elusive corporate jobs! If it's not expensive or bothersome, do it!
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Post by Mr Nobody on Jun 15, 2005 14:03:12 GMT 7
Register as a consultant? I think in Oz we can just say we are, and hope someone is willing to pay us. I have been paid/consulted in a number of areas, and not registered.
I might just get it put on my business card . . . .
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Post by con's fly is open on Jun 15, 2005 21:02:44 GMT 7
DS, to write off expenses, you have to have "a reasonable expectation of income." Not that should be any problem coming up with some cockamamy theory- it wouldn't have to be good, just plausible.
And I believe you will have to declare any money you transfer to Canada- but I think you have to anyway, so why not?
You know, if the registration charges aren't prohibitive. All kinds of crap you can write off.
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Post by Canuck on Jul 7, 2005 21:08:18 GMT 7
First thing first.. If you register any business in Canada you can write off expenses that are used to obtain income. In order to be liable for taxes in Canada you have to have an income exceeding $9000 Canadian (54,000 rmb), after said expenses of course. If you are outside of Canada for over 1 year, and if you don't own a car, house or bank account in Canada you will be considered a non-resident of Canada and not subject to paying income tax on income earned outside of Canada. Also not sure of what qualifies as an expense outside of Canada. Acoording to Canadian tax law, if you go on a vacation and collect a few business cards this qualifies as an expense.. if you go out drinking and talk about business 50% of this can be written off as an expense.
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