Canadians Have Life On EASY MODE
Canadians Have Life On EASY MODE – Add me on Instagram: GPStephan
GET MY WEEKLY EMAIL MARKET RECAP NEWSLETTER:
The YouTube Creator Academy:
Learn EXACTLY how to get your first 1000 subscribers on YouTube, rank videos on the front page of searches, grow your following, and turn that into another income source: – $100 OFF WITH CODE 100OFF
My ENTIRE Camera and Recording Equipment:
For business inquiries, you can reach me at grahamstephanbusiness@gmail.com
*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. This is not investment advice.
It’s not that Canada has the luxury it’s that the USA is 1 of 2 countries that tax on citizenship rather than residency
Yes, this is amazing how we don’t know we’re the (bad) exception in many aspects.
I see you have YouTube but do you have Google? There’s only 3 countries that tax on citizenship @@leskelly5783
Well I mean there are plenty of countries that don’t tax on residency. But yes the United States is the only country that enforces taxation on citizenship
@@leskelly5783 literally there’s not a single country in Europe or SA that taxes on citizenship
@@leskelly5783where do you get this info? Only the US and Eritrea tax based on citizenship. Others do it by residency.
It’s not just Canada. It’s almost every country aside from the US
That’s not easy mode, that’s common sense.
😂even the irs would not let this man give 1 single other person on the planet tax advice
Yeah most people are obsessed with something and will never realize their US taxes are based on what they believe
USA and Eritrea are the ONLY 2 countries on earth that use citizenship based taxation. USA is the exception here not Canada.
Literally came to say the same thing! 😂
Aha, try this move in Russia and you will be taxed addinionaly. +17% instantly in addition to 13%
Just another reason for why the US is a broken country.
Actually the zionist occupation state also has this law…
Canada and US have a lot of similarities, that’s why he said that.
He could have said the same about Pakistan, but you know 😂
Canada doesn’t have life on easy mode the us just sucks
You do not have to pay tax to the US while living abroad unless you make over $200k USD. You do have to file every year. But I live in Canada and don’t pay tax to the US because I don’t make enough
Same change accountants by chance because it’s 120k US right now as of 2023 you do get credit for paying taxes to Canada, but it shouldn’t come up to 200k us
False info. You do have to pay self employment taxes
@@WillieFungodude, the guy isn’t self employed. He’s got a boss.
@@hh0686 thanks for saying it so I did not have to
@@hh0686 Who cares? The majority of Americans who are trying to move abroad to pay lower taxes are self employed digital nomads.
being Canadian is only easy mode if you don’t live in Canada.
Lmao as a canadian I couldn’t have said it better myself. It’s brutal here
This is all thanks to that tech guy who made a lot of money in California then retires and cashed out in Mexico
There’s nothing at all unusual about Canadians NOT being taxed by their own government when they work abroad, it IS WEIRD that Americans think it normal that they are.🤯🤯
Not just Canadians, most of us around the world only pay tax on our residency
Its not life on easy mode; its what make sense. It doesn’t make sense if you’re earning money in Thailand, and then you’re getting taxed in Thailand, and you have to declare it and get taxed in the US with the same or more amount from the same principal. 😊
Except this is not true. If you earn under the foreign exclusion amount ($107,600) you don’t have to pay tax. In addition, you can choose to credit your existing foreign tax payment towards your US tax payment.
You have to pay self employment tax
Exactly
He is bullshiting
Canada is taxed on worldwide income, but we have tax treaties with many countries so then when you file tax there is a foreign tax filing that takes out the difference between Canada tax and said country. There are exceptions to this depending on country they are in.
I am a Canadian and I didn’t know that. Granted, I never planned to live anywhere else. But damn, sucks for Americans
We definitely aren’t on easy mode right now. 😅
No, not kind of like that we can make money outside of the country. We’re only taxed on the money that we make in country, but we’re also text on any interest of that money or when we convert the money
Actually with the Foreign Earned Income Exclusion, if you move outside the US you only have to pay taxes on your income over $120k
I mean it makes sense. You pay taxes for infrastucture, healthcare, socialsecurity and what ever your goverment is providing you. Low taxes usually means less benefits and since I no longer profit from all of it when I leave the country I should no longer have to pay for it. It makes sense from a countries point of view, people with money can’t leave you for free.
That’s not true.
First of all, you are obligated to pay tax only if your net income is higher than 124000USD annual
And if you pay tax to the country you live, you can exempt it.
Canada has a rule where if you leave the country and live abroad you also have to relinquish your health care service if you are gone for a certain period of time