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Are you a Canadian living abroad? Discover the crucial factors that determine your residency status for tax purposes and learn about your income tax obligations. In video explains the significance of residential ties and how they affect your tax liabilities. From dwelling places and family ties to personal property and economic connections, each element plays a role in determining your residency status. Find out how to navigate the complexities of Canadian tax regulations while living abroad and ensure compliance with the Canada Revenue Agency (CRA). Watch now to stay informed and optimize your tax planning as a Canadian expat. ----------- CRA RESOURCES https://www.canada.ca/en/revenue-agen... https://www.canada.ca/en/revenue-agen... https://www.canada.ca/en/revenue-agen... ----------- TIMESTAMPS 00:00 Intro 00:48 Disclaimer 01:08 Residency Status 01:42 How to determine residency status 02:09 Significant Residential Tie #1 03:06 Significant Residential Tie #2 03:35 Significant Residential Tie #3 04:00 Secondary Residential Ties 05:54 Ordinarily Resident 09.08 Seek Professional Advice 10:08 Summary ----------- FREE RESOURCES ➤ Grab a copy of my monthly business checklist to keep important tasks organized! https://senseaccounting.ck.page/month... ➤ Grab a copy of my rental property income & expense tracker for landlords to make tax time a breeze! https://senseaccounting.ck.page/renta... ----------- ABOUT ME Hi, my name is Irene! During my time working in public practice, I realized that so many small businesses had so much untapped potential because they were missing a vital component in their business: Company Finances. Many business owners were never taught financial literacy and I realized that there was a need for accounting services with a modern-day approach that supported business owners. That is how Sense Accounting CPA was born. We are a cloud-based firm that provides bookkeeping and fractional CFO services for Canadian small businesses. The goal for this channel is to share important accounting and tax information for Canadians. ----------- LET’S CONNECT Social Media Handles are all @SenseAccountingByIrene ➤ Instagram @SenseAccountingByIrene / senseaccountingbyirene ➤ TikTok @SenseAccountingByIrene / senseaccountingbyirene ➤ Website: https://www.senseaccounting.ca ----------- Disclaimer – The information presented in this video is for entertainment purposes only. Although I am a Chartered Professional Accountant, I am not your accountant and therefore, the information should not be taken as financial or legal advice. Every individual's situation is unique, and it is important to consult with a qualified financial or legal professional before making any decisions related to your personal finances or legal matters.