Behind the Advice Australia - Optimising Your Tax & Finances as an Australian Expat in Canada

In this episode of Behind the Advice Australia, we unpack managing your tax and finances as an Australian Expat in Canada.

Whether you're planning a move to Canada, already settled there, or preparing to return home to Australia, this episode aims to help you navigate the complexities of cross-border finances with confidence.

We’re joined by Jonathan Bell, a CPA and Chartered Accountant at Phillip & Company LLP in Ontario, who specialises in supporting individuals and businesses through the complexities of cross-border tax. With a substantial cohort of Australian clients, Jonathan offers practical insights drawn directly from real expat experiences.

In this episode, we break down:

Key differences between the Canadian and Australian tax systems, including federal vs. provincial taxes and mismatched tax year timelines.

How tax residency is determined with a chat on qualifying as a Canadian tax resident and the Australia-Canada tax treaty.

Managing Australian-based assets from Canada, including taxation of rental income, shares, ETFs, and the complexities of selling property while abroad.

How Canada treats Australian superannuation, including how withdrawals are taxed in Canada.

Cross-border tax and financial planning strategies with a dive into RRSPs and TFSAs, contribution rules, tax treatment, and how they fit into an expat’s broader financial plan.

Returning home to Australia with a discussion on what you need to know about deemed dispositions, the 60-month rule, and avoiding unexpected exit taxes.

If you're an Australian expat in Canada, this episode is packed with insights to help you make informed financial decisions at every stage of your journey.

To learn more about how Runway Wealth Management can assist you on your Expat journey, be sure to check out our website here:
www.runwaywealth.com

If you’re planning a move to Canada or are already settled there, be sure to connect with Jonathan at Phillip & Company LLP for your cross-border tax needs:
Email: [email protected]
Website: https://www.phillipca.com/