Ask Allan Forum
Get expert answers to your tax questions straight from Allan, our owner and experienced CPA. It’s free, direct, and designed to help you make the best decisions when it comes to your taxes.
Hi Madan, my family are living in Canada however I am working in the middle east, I have below questions please:
1. should my salary be reported in the year received in my bank statement in Qatar, or in the year I transfer them to Canada?
2. Earned or Received? for example can I keep big chunk of my salary with my employer who is my brother and let him pay on monthly basis the amount I currently need. Later in future I may need to pay for condo in 2023 then I may transfer the big chunk from my brother company to Canada.
Thank you Madan
Individual taxpayers must report employment income in the year that the income is received. In theory, you can ask your employer to defer the payments of income made to you in order to minimize your personal income and tax for a particular year.