bcbusiness.ca
nity to learn what was going on and
learn about the business practices,"
he says.
Don't Forget Family
If you have a family, bear in mind that
family adjustment is a leading reason
why moves fail, according to the 2014
Trends in Global Relocation survey by
Cartus, which specializes in corporate
relocations around the world.
"Often today both the husband
and wife work. So if one of them gets
transferred, the other one has to leave
their job and potentially find employ-
ment in the new location," says Linda
Lachapelle. "The person working will
have cultural training, but the family
also needs to know how things work
in that country: finding a school, help-
ing the spouse find a job, orientation."
As for starting or adding to a family
while abroad, "if somebody young is
going abroad, and if they were them-
selves born abroad, they need to be
aware that if they have a child [there],
their children may not be Canadian,"
says Allan Nichols.
Consult a Tax Expert
"A lot of times what we hear from
individuals who relocate is, 'I heard
that I have to sell all my assets,'" says
Christina Diles. "The answer to that
is no."
Tax treaties between Canada and
other nations and what sort of ties you
retain with Canada will affect the taxes
you pay as an expat. If you remain
a resident of Canada while working
abroad, you will need to file a Cana-
dian tax return for worldwide income
and claim a foreign tax credit on the
income that is taxed by the foreign
country. If you become a nonresident,
there is a valuation of your capital
assets when you leave Canada. If the
gains are more than $100,000, you
would have to pay a departure tax or
post some kind of security with the
Canadian government.
•
source: asia pacific Foundation of canada
China
19,990
south Korea
14,210
