A Canadian Question?

Hi everyone,

I am seriously thinking of Ex-patting to China to Teach English. I am 51.
I know that to this, you have to cut all ties with Canada, pretty much all properties etc.

So my questions are.

If, (or when), I come back to Canada after 9 years, at the ripe age of 60, can I still collect CPP, and OAS at 65 yoa?

Can I still keep my RRSP's as well, or do I need to cash them?

Any other points of interest, advice, and observations would be greatly appreciated.
Thanks to all that offer comments.

Jim

Yeah, That's a Canadian Question. Do you really want to give up your Cdn. Citizenship Jim? Check out the CIC website at cic.gc.ca You will be able to get the correct information concerning your views right from the people who decide. I am from Edmonton. I am currently teaching in Yibin in Sichuan Province, PRC.

Hi Donald,

I live in Calgary.

So, not really giving up Cdn Citzship. But more of just leaving Canada to work for a few years in China.

Wondering about the CPP and OAS politics. I will check the site, but as usual a very vague and limited source of information.

My email is jimteakles@shaw.ca

Thanks,

Jim

Found so Far:

http://www.voyage.gc.ca/faq/roca-eng.asp

http://www.servicecanada.gc.ca/eng/subjects/travel/abroad.shtml#liv

Best Resource of Information:
http://www.voyage.gc.ca/publications/retirement_retraite-eng.asp

Best Resource of Information:


http://www.voyage.gc.ca/publications/retirement_retraite-eng.asp

Canucks Abroad

http://www.canuckabroad.com/

Ok

I have been in China 8 years (Edmontonian) and here is the scoop.

You can of course come for 9 years and teach and not lose your rights and privileges as a Canuck.

HOWEVER!!!!

While you retain those RRSP's you will also retain your Canadian residence. As such, you WILL be expected to pay CANADIAN TAXES (30-35%) on your salary earned in China!!!

Trust me, I have talked to Rev Can SPECIFICALLY about this!!

You can keep your citizenship. but unless you want to turn over your hard earned income in China you must lose your residence. To do so you must sever all financial ties with Canada. No bank accounts, credit cards, RRSP's, property or investments. Literally there is a clause stating you must tell your friends and family you have no intention of coming back!!

personally I find this policy disgusting and unfair! US citizens can make 80,000 US dollars a year in China (literally a small fortune) before they must claim income tax. Canadians need to pay 35 cents off every dollar they earn! A gross money grab and nothing more.

For the record I am officially a non-resident and will continue to be such for the foreseeable future. The concept of paying 13% chinese tax and 35% canadian tax is not even slightly appealing to me.....