Wednesday, 14 September 2016

Originally posted on Facebook as "Financial Planning Tip April 9, 2016 -002 Tax - Dual Resident - I"

"According to Jamison Aldcorn, author of Contemporary Practices in Financial Planning (CCH/Advocis Education Programm) "Under Canadian Law it is possible for an individual to be resident of more than one country for tax purposes."

This is kind of hard for me to grasp given that in some countries, residency is partially determined by... the number of nights spent in a country, with 183 out of 365 nights being a determining factor which is used by many lay persons.

Then what is the definition of a night? In this case, is it the twelve hours from 6:00 pm of the one day to 6:00 am of the following, or can it be considered a three hour span?

Perhaps passports may be checked to determine residency under this category with counting of the hours becoming important!"

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