Best Tax Accountant in Toronto & Mississauga Excellent accounting firm! I had been to the Scarborough branch where I met Sohail; who is a quite person but very passionate, professional, and approachable. He and his staff take care of you every step of the way. They value your time and reduce your stress by responding and updating very quickly. Highly recommend.“" Karima Jivani 5.0

Skip to content
108 viewsTax Questions
0
0 Comments

I want to come to Canada and want to get myself engaged as physician in Mississauga. Currently, I’m an American Citizen and my residency status is of permanent in nature. I also intend to seek Canadian permanent residency. I have the tax filing obligation in US. What you say if I incorporate as a physician in Canada?

Changed status to publish

If you incorporate as physician, you may defer paying income tax on your professional income by retaining most of the income inside the incorporation and you can always withdraw salary from your corporation. The salary that you earn in Canada will have an income tax on it but if you are filing in US, you will receive a tax credit for Canadian taxes paid. In this way, you may avoid double taxation because of tax treaty between US and Canada. If you have further questions, please feel free to reach out to us at tax@gtaacounting.ca.

Changed status to publish