Tax refunds for Irish people who have worked in Canada amount to $1680 on average – with Taxback.com saying that their average Irish refund surpasses their global average of $998.
The leading tax refund specialists are calling on the thousands of people who travelled to work in Canada in 2017 to move fast and file their tax return before the April 30th deadline, or risk facing penalties from Canadian Revenue authorities.
Taxback.com are also calling on the tens of thousands of Irish people who have worked in Canada in the last 10 years to check whether or not they are owed a tax refund – saying that, in their experience, at least 9 in every 10 workers are entitled to a refund.
Eileen Devereux of Taxback.com explained, “Canada has always been popular amongst Irish travellers, but its popularity soared during the recession with thousands of workers, particularly in the construction sector, heading to Canada to find work as our economy tumbled. We receive enquiries daily from Irish people who have returned from their Canadian adventure with a myriad of questions about their tax affairs. For this reason, we developed our Bullsh!t-free Guide to Canadian Tax.
“When putting this guide together we noticed an anomaly in our own client base in that Canadian tax refunds for Irish workers were above our global average. The average Irish refund is $1680 – so it’s not something which most people would willingly leave on the table if they knew it was available.”
Taxback.com say that anyone who travels to Canada on a working holiday visa is obliged to file a tax return, the submission deadline for which is April 30th. The company says the primary purpose of filing a tax return in Canada is to check if the correct amount of tax has been deducted over the course of the previous tax year.
Ms. Devereux warned of the perils of non-compliance: “If you miss the deadline, you may be penalised by the Canadian Revenue Office and incur a penalty fee of 5%. On the other hand, if someone is due a refund from the Canadian authorities, they have up to 10 years to claim it.”
The IEC program allows people from many countries up to the age of 35 (30 for some countries) to live and work in Canada for a period of 12 or 24 months. Anything ranging from 7,500 to 10,500 places annually have been available to Irish workers in recent years – and demand has been strong.
Canada boasts ‘the best of both worlds’ for Irish travellers. On the one hand, its people and way of life are not a million miles away from that of the Emerald Isle, but equally its seasonal weather and huge variety of things to see and do make it a wise destination for those seeking a big adventure. The fact that the Trump administration has thrown a lot of uncertainty on the fate of Irish workers in the US, has made Canada a more attractive and secure proposition for many considering a move abroad. People up to the age of 35 can apply to enter Canada initially on a one-year work permit, and can also include family on this. Following on from this initial visa, there are a variety of options for people to remain in the country for longer.
Taxback.com is a multi-national corporation providing specialist tax return services to private and corporate clients across 100 countries. Taxback.com was the overall winner of the 2009 Ernst and Young Entrepreneur of the Year Award in Ireland and winner of a Deloitte Best Managed Companies Award.
Established in Dublin in 1996 and led by a team of entrepreneurial business executives taxback.com has 27 offices worldwide, in Europe, Australasia, the United States and South America, and a staff of over 943.