So, you’re set you up with remote access and now you’re sitting pretty. You can work from home or from anywhere in the world! Anytime, any place! You are on vacation, or on a business trip, you pop on your laptop and catch up on a bit of work, it is as simple as that. You have access to all the files and resources you need and can do anything you’d be able to do if you were in your office.
Remote computer access capabilities allow us to branch out beyond the borders of the traditional office. Our workforce is more flexible, productive and responsive. Employers can save money, attract top talent and work globally in a global marketplace. Studies have further demonstrated that teleworkers report a better work-life balance and less stress.
However, if you are leaving Canada for an extended period and will continue to work for a Canadian-based employer, make sure you know your tax obligations!
It is important to determine how the Canada Revenue Agency (CRA) views you for tax purposes. Specifically, you will need to determine your “residency status”. For a list of guidelines visit their website. Confused? The CRA can make the residency determination for you, fill out form NR73, snail mail to the CRA and voila, a short wait of at least two months will get you the answer.
It is also recommended to check with the local tax office of the country you are temporarily residing in. You may have tax obligations within the foreign country as well.