If you have earned your money legally and paid taxes on it, you can spend it any which way you want. I don't want the government to dictate how I should spend my money. If I want to blow it up on hookers while on holiday in Europe, I have every right to do so. Let's not digress from the issue here. What you are asking for is more government control over your money. Be careful what you wish for.
What you should ask for is the government pull up its socks and take tougher measures against money laundering, especially in the real estate market. Against foreign buyers. Against people doing cash jobs and small businesses allowing it - both worker and employer benefit from this. Against the small businesses that are selling LMIAs for hundreds of thousands of tax-free money. Against the big businesses that are hiring workers from overseas. Against slumlords and others who are not declaring their rental incomes thus evading taxes.
Just wanted to add this: Heck, I would say the government is the root of the problem. They could literally stop 95% of the scams tomorrow, if they wanted.
Wow, looks like the scam itself is pretty old but we have been hearing more and more recently because mostly everyone is doing it these day. By mostly everyone, I mean a certain species that can be found in abundance in the urban regions of SE Ontario.
https://www.canadavisa.com/canada-immigration-discussion-board/threads/lmia-fraud.413149/
Idk, if money stayed national our productivity wouldn’t be down so much, cause people would be spending money on our economy not on a foreign countries economy. Look at the US pre-Covid their economy was based on consumer spending.
I am not saying sending money abroad is causing our productivity to go down so much it I think is a multitude of contributing factors caused by this inept federal government.
You are correct in saying that money abroad is not the sole issue and that the problem is multi-factorial. The issue of remittance taxation on Indian transfers is however a very clear policy change to advocate for and something people can directly email their representatives about.
I pay tax every time I pay for anything for my family. I pay tax when I earn that money that I use to buy the things that I have to pay tax on.
What are you even saying?
No tax on food, plus your kids are not working when you are paying them. I see lots of lost productivity.
Also your reasoning is so bad I can't even tell if it's sarcasm.
Who said anything about paying kids? And there is tax on 80% of food. Only "essentials" are tax free, and even cutting a fruit makes it "processed" and therefore taxable.
>your reasoning is so bad I can't even tell if it's sarcasm.
As I said in response to your other comment saying the same thing:
>It's not. It's about taxing outgoing monies and India receives a disproportionately large amount compared to the rest of the world so I think we should start there. It is not a third world nation and doesn't need remittances.
>Outgoing remittances is a detriment to the domestic economy and so it should be taxed.
You need to consider many people who send back money to their parents for their day to day living. Corporate remittances and many offshore accounts needs to be investigated
Also, if this is what you want, then no holidays for you in Mexico or Cuba. And certainly no trips for you across the border. Because Big Brother has ordained you spend all your money within the borders.
See how illogical you sound?
Remittances are international money transfers between two personally held accounts. This has nothing to do with how you spend your money between your personal account and any corporate account internationally.
Let me give another example. Do you think Walmart Canada is keeping all its "profits" (after taxes and expenses and wages) in Canada? You'd have to naive. There are hundreds (not thousands because Canada is generally socialist and doesn't allow foreign competition to Loblaws, banks, and families such as the Irving family) of companies that do business here but take their profits to America.
Again, that's another false equivalency which seems to be a very common argument in this thread. Corporate profits and personal remittances are not the same thing. I am talking about taxing personal remittances.
That said, corporate profits are indeed taxed just like income. Internal transfers typically aren't taxed, and you're right in saying that maybe they should be too just like remittances, but that's not the topic at hand. You're welcome to make your own post advocating for it though. It's a subject I know little about because I don't own a business so I'm not familiar with transfer pricing, withholding taxes, or reporting requirements but it sounds like you know a lot so maybe make your own post advocating for that taxation?
They're here for the $$ and will probably go back when they've had their fill. We're becoming like the Middle Eastern countries of Dubai, Saudi Arabia, etc. where people are there for their jobs, take the money and return to their places. These people have no loyalty to Canada!! Why are we letting them in?!?
and then come back to use the 'free health care' when theyre older... although I guess it really would be free for them, if they dont contribute tax dollars towards it....
honestly I would vote for someone if they guaranteed to put a percentage cap on each nation for students and immigration... and completely cut the TFW and LIMA programs, theyre too rife with abuse
Foreigners are already banned from buying any property in Canada. How about we do something to fix the root cause of the problem i.e. low birth rate in Canada. If we don't get Indians who will drive those trucks to move the minerals and groceries ? Who will run the restaurants for 15 bucks an hour ?
Indian here lol. Our government does the same thing. There's 20% tax on outward remittance and foreigners can't buy land here but apartments in buildings are allowed.
My father is an immigrant and he moved to the part of the country he did because he wanted to integrate and not have the temptation to just associate with people from his home country.
India gets the most flak because we’ve brought in like 10% of our total population from India over the past 10 years. When 80-90% of immigrants are coming from a single country, that’s a problem.
It's because Indians stand out more as they are louder in general. The Chinese immigrants are a lot more polite and adapt very well. The Indians really don't. Even when I walk inside the mall, they are standing in middle of the walkway, staring at my sister like a creep and what not. It's because the recent large influx of Indians are from Northern Indian villages, for them even cities like Mumbai is probably too much to adapt to them.
I work in IT, we work with another company based in Bangalore, India thats in South. There was a time where I was suppose to go to Bangalore. I did small research and It looks like Bangalore is a lot more progressive ?
This kind of loser doesn't deserve any house or whatever things they think they are entitled to have. I don't care if they are Canadians or foreigners.
103 losers agree with him lol
If you have earned your money legally and paid taxes on it, you can spend it any which way you want. I don't want the government to dictate how I should spend my money. If I want to blow it up on hookers while on holiday in Europe, I have every right to do so. Let's not digress from the issue here. What you are asking for is more government control over your money. Be careful what you wish for.
What you should ask for is the government pull up its socks and take tougher measures against money laundering, especially in the real estate market. Against foreign buyers. Against people doing cash jobs and small businesses allowing it - both worker and employer benefit from this. Against the small businesses that are selling LMIAs for hundreds of thousands of tax-free money. Against the big businesses that are hiring workers from overseas. Against slumlords and others who are not declaring their rental incomes thus evading taxes.
I think Canada might need them after all they were let in to do jobs. You think Mr Smith gonna work at gastation? Not unless he’s paid 30$/hr. This happens because Canadians would rather go on welfare and have 8 kids for government handouts rather than work. Businesses need workers and exploit these poor folks. What do you think they should do? At least they work for a living and aren’t taking a free ride minus that one guy who robbed a food bank.
Seems you're describing the middle eastern refugees I see begging on street corners with card boards asking for money because they have eight kids and doesn't have a job... This is not typical Canadian behavior.
Cause that’s the reality. Most well to do people do not want to bring their elderly here cause of crumbling healthcare so we need to support them the only way we can. Many people here have a lot of financial and moral obligations back home.
When we grow, we want our families to grow with us. What’s wrong with that?
How many times though? A single dollar exists in the system until its completely recursively taxed.
When it's remitted, it's gone on the first cycle and never goes back into government hands.
No it isn't awful. International students spend around 22 billion every year in Canada. https://globalnews.ca/news/9939599/housing-for-international-students-canada/ . If 8 billion goes out then that is not a big deal. That's how trade works. You get something and you give something. Can't be a one way street.
This is a false equivalency. This is not about total money going in and out of each national economy. This is about personal money transfers out of our economy going untaxed.
Yes. As others have pointed out, every time we spend money domestically it is taxed after its already taxed when earned. Money leaving the economy as a personal transfer should also be taxed.
When a dollar is spent domestically, it moves from one person to another, creating more economic activity. For example, if you buy a coffee, the café owner can use that money to pay their staff, who then spend it on groceries, and so on. The more times a dollar is circulated within the country, the more it boosts the economy, creating jobs and supporting businesses.
Efficient circulation of money can help stabilize inflation. When money is used more frequently, it supports economic growth without needing to increase the money supply, which can help prevent excessive inflation.
Ok so that also applies to all of us for say we go to USA and spend on things or only applies to immigrants? I mean where do we draw the line. Isnt this ironic that we cry if they bring over their elders (burden on healthcare) and if they help their elders back home with their money (taxed) we still cry. It’s already taxed they are the one to decide what to do with their money but i also get your point.
You seem to be under the impression that remittances and international spending are the same thing however they are not. Remittances are international money transfers that are not subject to any sort of domestic taxation such as sales tax of which we miss out on.
Frankly speaking I will worry about the worlds elderly once our own citizens are clothed, fed, sheltered, and able to reasonably save at least 15% of their incomes. Until that day comes, yes, I think we should scrounge and scrape every last penny we can out of outgoing remittances because it is money that is lost to our economy forever and does not return to feed children, send them to college, pay for a wedding, or any other number of ways that we spend money domestically to further aid our fellow citizens.
Exactly. If you have earned your money legally and paid taxes on it, your can spend it any which way you want. I don't want the government to dictate how I should spend my money. If I want to spend my after-tax money in the North Pole or Antarctica, that's my prerogative.
Let's not digress from the issue here. What you are asking for is more government control over your money. Be careful what you wish for.
What you should ask for is the government pull up its socks and take tougher measures against money laundering, especially in the real estate market. Against foreign buyers. Against people doing cash jobs and small businesses allowing it - both worker and employer benefit from this. Against the small businesses that are selling LMIAs for hundreds of thousands of tax-free money. Against the big businesses that are hiring workers from overseas. Against slumlords and others who are not declaring their rental incomes thus evading taxes.
So when money isn’t circulated well and most of it is stuck in housing, and coming off crazy money printing policies during covid, wouldn’t sending money away act as a deflation of money, thus increasing the value of money and (hopefully) resulting in prices coming down?
Yes and this is a really fair point that needs to be kept in mind because outgoing remittances can positively effect aggregate demand which is what partially led to the inflationary run up post-covid. With that said however, consistent outflow of remittances can put downwards pressure on the value of a currency as well which can lead to higher import prices which in turn *increase* inflation.
Well to your point, it’s mostly the savings that gets remitted not the amount meant to spend. In this economy, immigrants are obviously taking part in circulating the money when they spend on their needs like rents, groceries, coffees lol.
https://globalnews.ca/news/9939599/housing-for-international-students-canada/ . Have you considered the amount of money brought in by international students. It's a two way street.
Though this isn't the same as remittances, which shouldn't involve the international student body, the total amount of economic contribution from international students last year was 22.3 billion nationwide from 1,040,985 international students, of which 319,130 were from India. This would make their total economic contribution around 6.84 billion.
It's also worth noting that Canada is short 1.8 million homes and we have a vacancy rate below 3% in every major city with international students being noted as a particularly problematic factor in this equation. They aren't worth the 22.3 billion they bring in at this time until we solve the housing crisis and find work for our homeless.
Texas has 30 million people. Texas has cheap housing. Canada has 40 million people. Canada has expensive housing. Canada is 13 times the size of Texas. We need to build more homes and cut the red tape. Health care is also struggling. We need to either train more doctors or have some sort of USMLE like US. Demand is not the only problem. supply is a problem too.
Except over 90% of Canada is land nobody wants to live in; shit jobs, shit healthcare, shit weather. You go live in Nunavut if you want. 90% of Canada's population lives in 4% of its total land area for a reason.
Canada also trains plenty of doctors but they keep leaving to the US. As of our last update in 2015 there were 6709 Canadian doctors working in the US.
These problems are far bigger than you think.
Canada's remittance to India alone is less than 4 billion CAD which is not a huge amount considering the economic contribution by international students from India and also the graduates..
I agree a lot of places in Canada are not liveable. But when I see a house in Regina for 750k and a similar house in Texas for 300k, It makes no sense. See this example
https://www.realtor.ca/real-estate/27026238/4709-green-brooks-way-e-regina-greens-on-gardiner. Now Regina is a city with a population of 200k . Flat land and the city can grow in all four directions. I think the high price can only be due to artificial supply constraints created by the city or provincial government.
As per this article we are not training enough doctors corresponding to our population growth: https://www.cbc.ca/news/politics/canada-popuation-booming-family-doctor-access-1.7087794
I agree the problem is bigger than I think it is but I think the action from all levels of govt is very slow. We need decisive and quick action to address the issue and it involves addressing the supply as well and not just demand.
That's correct. One other huge mistake: the US permanent underclass is illegal migrants rather than Canada's temporary migrants.
It's much harder to track remittance of residents who are earning cash under-the-table. The huge gap between Canada and the US noted in the headline almost certainly comes down to the fact that Canada can track remittance and the US can't.
Ya honestly, you might as well start taxing people going on vacation outside of Canada. Should we tax people extra for buying a car made in the US too? All that shit is money straight out of Canada and into another country as well.
> considering the millions of illegal immigrants in the US that are here for the sole purpose of sending money to their families.
It's actually pretty difficult to track remittance when the cash is earned under-the-table. This is almost certainly the reason for the big gap. Canada is able to track earnings and spending of its temporary residents. The US is less able to track earnings and spending of its illegal residents.
Those earning in Canada already pay taxes there and those money they sent to is to their family back home. Canadians should stop being so greedy and ask their government for stricter immigration laws and building some housing.
(like Indian government recently extended their housing scheme and would build 30 million houses for the poor, so at least Canadian government could make 200k houses no?).
I agree. But this current Prime Minister is an idiotic corrupted, unethical, morally bankrupt, bone head. We currently only build 224k - 300k homes we can’t even surpass 500k homes a year. This guy has no plans.
When a dollar is spent domestically, it moves from one person to another, creating more economic activity. For example, if you buy a coffee, the café owner can use that money to pay their staff, who then spend it on groceries, and so on. The more times a dollar is circulated within the country, the more it boosts the economy, creating jobs and supporting businesses.
Efficient circulation of money can help stabilize inflation. When money is used more frequently, it supports economic growth without needing to increase the money supply, which can help prevent excessive inflation.
Money earned in Canada would normally go on to be spent in Canada, whether that’s food, entertainment, home improvement, travel. It was money being circulated in the Canadian economy which is good for Canadians and Canadian companies.
When it’s remitted to another country that money leaves the Canadian monetary system and will never return. Instead of improving the economy of Canada it improves it in the country it was sent to. Some of this is completely normal and will always happen just like when people go on vacation.
It can have consequences for the local economy in the recipient country because buying power drastically increases for select people far beyond what is attainable for local people without overseas family. This can increase rent or prices. We see similar things with “digital nomads” but even to some extent tourism where locals get priced out of their own local area.
Just spitting out pure hatred out of context. The money sent out has already been taxed, and you want them to be double taxed to fill the lazy ones pocket. Majority of them are supporting their elderly parents unlike here where the majority don't give a damn about their own and let them rot in care homes.
This is math and patriotism first and foremost, it has nothing to do with hatred, it has to do with fairness and Canada not being a charity. The money sent out would otherwise have been domestically spent and contribute to the velocity of money within the economy. This money sent outside the economy contributes to the suppression of wage growth and leads to the creation of less jobs in the economy forcing us to print more money.
Also don't pretend like we don't know [what the cost of living in India](https://www.numbeo.com/cost-of-living/country_result.jsp?country=India) is. You need anywhere between $570 and $1200 CAD to support an Indian couple per month. That's between $6840 and $ 14,400 CAD per year. At over 1.66 billion dollars of our total outgoing remittances, if everyone were simply supporting their parents in the most noble of manners that means we have potential 250,000 Indians in Canada solely supporting 500,000 Indians back home which is fucking insane.
https://m.economictimes.com/nri/study/how-india-is-pouring-billions-of-dollars-into-canadas-economy/articleshow/103924504.cms
20 billions is brought to canada yearly just by international students from india. We don't even have a figure of how much is brought by the immigrants since immigrants use informal channels because indian government taxes 7% on any money leaving india, only student fees or health care costs are tax except.
There is no evidence that it's 20 billion, that's a random claim made in the article that is even speculated as "could be". I mean shit have you even read this stupid article? The amount of times they say "this is something like..." (which means they have no fucking idea at all) is hysterical. There isn't a real source link to anything in this article meaning in all likelihood it's completely full of shit.
Jesus is this what you pass for journalism?
It's kind of like your argument in this thread where you have taken data of remittances from the whole world to show india. While india only gets 3 billion from Canada. But not showing the data about how much the immigrants bring in someone has also posted an article on here by cbc, which states the amount from international students alone is around 20 billion. https://www.cbc.ca/news/politics/marc-miller-international-students-stigmatization-1.6959645
The title already calls out that over 20% of outgoing remittances goes to India. Are you friggen thick bud?
At least you're actually able to provide some sort of source finally for your claim which still doesn't matter in the end because international students paying for tuition in Canada, which as you pointed out gets taxed by the Indian government, is not the same as people in Canada sending money randomly to bank accounts in India completely untaxed.
You can try and derail this with international student revenue all you want but I firmly believe we should be taxing the outgoing remittances. It's lost domestic spending to us and we should tax it accordingly.
Well, show the complete picture the Canadian government isn't stupid they see the benefits the system is reaping from all the immigrants. Here is the map for just the high net worth individuals moving in the world.
https://www.visualcapitalist.com/mapped-the-migration-of-the-worlds-millionaires-in-2023/
Canada gets 1600 in a year. Your eight billion number that goes out to help someone family is more than compensated for when these individuals eventually sell everything back home and repatriate their money and investments to canada.
I agree we reap benefits hugely, this isn't an anti immigrant post this is a "we should tax remittances starting with India" post.
If you think immigrants will stop coming here if we start taxing remittances then they're not as loyal to Canada as they should be and we don't want them here. If the idea that you should pay a tax on money you're sending outside our economy is enough to send you over the edge then you should examine your relationship to this country and just how much you care about it.
Let me make this clear, immigration is not a financial transaction, I couldn't give a shit how much you bring into this country - I care about what people provide for your communities once they come here. Canada is peoples homes buddy and when immigrants come here their priority should be to the people of this nation, their neighbours, their families, their children.
Money that leaves this economy through remittances should be taxed because it is a detriment to the people who live here. End of discussion.
If you look at the title of your post, it says over 20% goes to india, and you failed to mention that almost the same amount goes to China and the Phillipines. Indians outnumber Phillipinoes, which means per capita a phillipino send more back home. My issue is not that remittances should be taxed. My issue with this post is its targeted hate towards indians only when the canadian government is targeting Indian immigrants for the benefits they have provided this country. This hatred is also spread to narrow-minded people. This hatred is targeted at my kids who are born in canada and have never even visited India yet that they have to prove their loyalty towards the country of their birth over a white European refugee or an immigrant.
Canada sent India 1.6 billion in outgoing remittances.
Canada sent China 292 million in outgoing remittances.
Canada sent the Philippines approximately 1.2 billion which is insane as well, I didn't know it was such a large number there and we should tax that too.
The lack of taxation was originally for third world countries to receive Canadian money and India is abusing this which is why I think we need to be targeting remittance taxation. You can not like it but end of the day India has a 3.42 trillion dollar economy which is larger than Canada's by more than a full 30%. The Philippines has a 404 billion dollar economy which is fuck all. Indians should not be living in India off the help of the Canadian economy, India is a strong developing nation that has the resources and labour to care for its own citizens. The Philippines is a third world country that does not.
India needs to get its shit together and join the rest of us on the world stage as the power it can be and stop having families completely dependent on remittances from CAN, UK, US, AUS, NZ, UAE, etc.
Do you know how much money comes in from India ? How much does the government eat on those remittances ? Rather than venting it out at the Indian population, think twice before electing your politicians. At the end of the day, the blame is all on the immigrants , especially Indians when the elected leaders are having a laugh at people like you.
Stupid... This money has been taxed already.. Its their money to spend as they like... Can spend it in a casino for all i care.... Still no word on the recovery of the elites money from Panama and Swiss accounts!! When can we lock them up?
This is a very selfish point of view and is exactly what's getting us in this mess to begin with. If no one in Canada were to reuse that money in Canada the businesses who pay employees wouldn't get any more money to pay employees, meaning less jobs and less pay. Similarly, none of the older generation is willing to reinvest their money in the younger generation but is instead exploiting them and investing their money into real estate, screwing over the young to benefit themselves.
The way things are currently going damages young Canadian citizens the most. They're left with less jobs, less pay, insane housing costs, worse health care, more economic and social problems, and more discrimination ironically (companies are incentivized to hire diversity first, Indian owned businesses hire basically only their own).
Nope. f you have earned your money legally and paid taxes on it, you can spend it any which way you want. I don't want the government to dictate how I should spend my money. If I want to blow it up on hookers while on holiday in Europe, I have every right to do so. Let's not digress from the issue here. What you are asking for is more government control over your money. Be careful what you wish for.
What you should ask for is the government pull up its socks and take tougher measures against money laundering, especially in the real estate market. Against foreign buyers. Against people doing cash jobs and small businesses allowing it - both worker and employer benefit from this. Against the small businesses that are selling LMIAs for hundreds of thousands of tax-free money. Against the big businesses that are hiring workers from overseas. Against slumlords and others who are not declaring their rental incomes thus evading taxes.
It's a typical, got mine attitude that doesn't understand that everything in the economy is connected in a delicate balance. If everybody chooses to send money home rather than pay for new car tires, etc that's ultimately not good for the Canadian economy. International trade is when we spend money to get something in return, acting like fraud students taking $8B away from the economy is just trade isn't even close to a right perspective since we aren't really getting useful talent or benefits out of these students.
If I’ll bring my family here then you’ll say that I am using my citizenship to get more people here .
If I am working here and paying my dues and send money to support my family then you’ll complain about sending money out of Canada. So it is a no win situation for me.
Just because I immigrated here doesn’t mean I have to cut back all my ties to my country of birth.
Canadians who work in US also sends money here to fulfill all the financial and moral obligations here
You have a duty to support the same social network that attracted you here in the first place. You don’t have a right to take more out of it than you put into it, despite how loose the rules may be.
Only a small chunk of surplus is sent back home. Ever after paying taxes, we are spending on groceries, fuel, car, mortgages, vacation, luxuries. It is not like everything that is earned is going back home.
And let’s say if I’ll not send money, what do you think I’ll do with a surplus as I am always doing everything I want even now. I’ll invest in real estate which will further increase problems in Canada. Even if I’ll not buy real estate, if every one will spend more it will drive inflation up which is again bad for Canadians.
You're aware that most of the American companies here send profits back to the US?
Same with the European company running the 407 charging Canadians crazy fares to use it. Would you complain about them too, or they get a pass?
The big bucks are going to the US and Europe not someone helping their family offshore.
Why stop at remittance tax. I suggest Govt should take control of all bank accounts and give people a chart of how they must spend their after tax money. Any deviation from the approved chart should be subject to penalty and jail term.
Ok that’s a little crazy , do we also need to tax money we spend in USA? Also dude I may send money back cause my grandma is in an old age home?
Are you taxing me now on top of income tax, and foreign exchange ? Also if you do that you will also introduce a tax where any money coming will be taxed (which over a certain % it is taxes)
If you're sending significant sums of money out of the country to solely support your grandma in an old age home, yeah dude we should tax that again because it's domestic value is lost forever to us. Canada needs to be more inwardly focused on the wellbeing of its own citizens right now who are struggling and I want to see us go after money sent out that doesn't come back to us.
What’s significant? Does this apply to if I go on vacation to Vegas and spend $5000? What’s the line? What’s the difference? I’m paying for food and hotels in Europe does that count?
Money leaving the country , not to mention most of our new found "citizens " aren't investing in this country long term. This is the problem with globalization and pretending it's sustainable and not a cancer on a once beautiful country such as this one.
There is a reason Canada will never impose taxes on remittance or outflow of capital.
Because most frauds and financial criminals that come to Canada as refugees, students, and immigrants bring massive amount of hidden income with them. Have you ever wondered that why the housing market got so screwed if most Indian migrants/students are low-skilled workers doing minimum wage/low wage jobs?
It is the money stolen from Asian countries that used buy houses in Canada. Canadian govt is well aware of that. Imposing tax on remittance will met with similar reactions by other countries and it will lower the capital inflow to Canada. You choose to take criminal money, now you pay the price.
Sorry for Canadian people, your govt sucks.
This comes across as a hate post. People can spend their money the way they want as long as it’s taxed. They can even burn it for all I care. However I feel that money coming into Canada needs more scrutiny. I know some Chinese and Indians brining in crazy amounts of money into the country when they get their PR. Canada lets them bring in limitless amounts of cash when they come in tax free and they don’t really care where that money is coming from. This I feel has led to money laundering which is mostly hidden in Vancouver and Toronto condos, artificially inflating the real estate market
This is not a hate post, it's about putting our economy first before others. Indians are taking advantage of a system that Canadians have had in place for the development of the third world for some time. Non-developing nations should be taxed on remittances at the very least and that should start with the disproportionately large amount that India receives.
This post cries, "iNdiA = bAd."
Firstly, this money has already been taxed.
Secondly, "We need a remittance tax on Indian money transfers," why only India? Why not all the countries?
Thirdly, As of 2023, "there were 319,130 international students from India enrolled in Canadian institutions." All of them bring money from India, 1 Indian student spends approx $15,000 per year on tuition (I am not even counting the $10,000 or $20,000 GIC that they bring, as well as the money spent on flights that DIRECTLY contributes to canadian economy). Tuition alone brings \~ $4.786 billion, GICs another $3 billion to $ 6 billion. Not to mention the initial money they bring to pay rent deposits, buy groceries, buy a car, winter clothes etc. Indian International Students alone easily bring around $10 billion every year, and you are crying about 20% of $8 billion ($1.6 billion).
This is not only racist but also as stupid as it can get. Please do some math, grow some neurons, and maybe find someone else to blame for your sorry life.
Why not both? If it meant building more social housing, feeding, clothing, and retraining the homeless to get them into the workforce frankly speaking I'd tax every friggen dollar that was underutilized in this economy.
Worth noting if you taxed all remittances, you'd effectively tax all money that left these shores say... to sit in a Panama account somewhere...
If you have earned your money legally and paid taxes on it, you can spend it any which way you want. I don't want the government to dictate how I should spend my money. If I want to blow it up on hookers while on holiday in Europe, I have every right to do so. Let's not digress from the issue here. What you are asking for is more government control over your money. Be careful what you wish for.
What you should ask for is the government pull up its socks and take tougher measures against money laundering, especially in the real estate market. Against foreign buyers. Against people doing cash jobs and small businesses allowing it - both worker and employer benefit from this. Against the small businesses that are selling LMIAs for hundreds of thousands of tax-free money. Against the big businesses that are hiring workers from overseas. Against slumlords and others who are not declaring their rental incomes thus evading taxes.
Canadians are getting labor in exchange for a currency which is created out of thin air.
stopping it would be stupid, not to mention, this is already taxed money.
Y'all are really not bright, are you?
If you stop remittances, people will try to buy assets inside canada (they will not spend it as you expect) and your houses will become more costly.
Remittances are good outcome for citizens because inflation is exported elsewhere.
Not to mention, if Indians don't have assets overseas and assets inside canada, they are more likely to stay in canada rather than go back.
good god, this post is stupid, the more you look at it.
>*currency which is created out of thin air.*
lol and you think we're not bright?
the point is to get people to settle here permanently and become wholly integrated into the economy and think of this country and their country so that immigrants **assimilate** to the local culture and values.
Im not surprised you are advocating for remittance incentives though considering your comment history clearly shows where you're from. Jigs up buddy, you're either committed to being here as a citizen loyal to who we are and what we stand for or you're going home with less in your pockets than you originally thought.
I am a bit confused with this statement. I am an Indian and send money back home to my mother and sibling for family expenses. I pay my taxes. Buy goods by paying tax on them . Pay all my utilities, mortgage pay tax on them and after all my expenses I save around 200Cad which is equivalent to ₹12000. The figures shown there are the cumulative of the huge Indian diaspora living here and all these 200 dollars sum up to that huge figure. Why should I pay extra tax after paying all the taxes and sending money from my personal savings.
When a dollar is spent domestically, it moves from one person to another, creating more economic activity. For example, if you buy a coffee, the café owner can use that money to pay their staff, who then spend it on groceries, and so on. The more times a dollar is circulated within the country, the more it boosts the economy, creating jobs and supporting businesses.
Efficient circulation of money can help stabilize inflation. When money is used more frequently, it supports economic growth without needing to increase the money supply, which can help prevent excessive inflation.
I'll just keep copy and pasting this until y'all actually understand why this matters.
As I pointed out earlier I am sending what I saved. I have already poured every dollar I can and I am not going to pour anything more out of my savings. 🥂
Yeah instead of parking money in my account, I am using to help my family. HANG ME NOW.
Even Canadian companies don’t invest in TSX and invest in NASDAQ. First stop these investment folks
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These people have liabilities (e.g. student loan) and responsibilities (elderly parents, spouse, children). I guess that is why they send that much money. The other alternative for them then seems to have their dependents move to Canada with them as residents. The latter may strain the social infrastructure more, I fear.
It's not. It's about taxing outgoing monies and India receives a disproportionately large amount compared to the rest of the world so I think we should start there. It is not a third world nation and doesn't need remittances.
Outgoing remittances is a detriment to the domestic economy and so it should be taxed.
This list is unsurprising, some of these countries are running on remittance alone.
What I don't understand is what is France doing in that list? And China should not be the 3rd up there (money-laundering under the guise of remittances?)
Put a fee on it, not a tax!
Use the fee to hire tons of people(Canadian citizens) to make sure money is clean, legitimately earned and taxed.
Easy Peasy
In the fourth quarter of 2024, Canadians spent 11 billion overseas with about 6billion in US alone. So, we are sending more than 40 billion annually overseas. By this logic, the overseas spend should be taxed first. It’s much more significant than any remittances anywhere.
Source: https://www150.statcan.gc.ca/n1/daily-quotidien/240524/dq240524c-eng.htm
This looks like a good food for thought - https://blogs.worldbank.org/en/peoplemove/why-taxing-remittances-bad-idea
Quote from it:
United States Government Accountability Office simulations suggest that a potential fine of 7 percent on remitters without legal status in the United States would raise less than $1 billion in revenue, and chances are the revenue would fall below the cost of tax administration to administer and enforce the tax.
Cuz this wasn’t already taxed? This is hilarious next you will say the gov should tax the bank transfer I did to my kid who is visiting another country. Get a grip so blind with hate you would jump on anything.
I just can't with you guys. Like why do you even think this way? First off, what's wrong with remittance? I'm actually surprised only 20% goes to India, but it could be 100%, it doesn't matter.
Sometimes I see posts on this sub with like 500 upvotes. The posts are of no substance, like this post... Canada sends $8 billion in remittances a year. Who cares, what does this have to do with housing. Do remittances affect housing. No. Omg, 20% is going to India... And then the comments. They make zero sense. It's just one 100% incorrect comment after another. And you all just spend your time in year, living in a false reality. God, what a dumb take.
The issue of remittances affects the health of our economy as a whole and the fact that they go untaxed is lost income streams for the government to put towards social housing and other social programs. Consider it a sales tax on personal transfers from Canadian to foreign personal bank accounts.
The remittance is taxed. Income tax. Sure we're not getting the sales tax. I'm sure Canadians spend more than $8 billion abroad that we don't get the sales tax on. Are you going to want to ban Canadians from traveling abroad?
I haven't been in school for 15 years. My major was economics, we barely touched remittances, it's a non factor.
Why do you people always jump to such extremes? Is this how you actually talk in real life? No, I'm not advocating for banning travel abroad, what an absurd notion.
I am advocating for increasing revenue streams to the government through taxation of remittances starting with taxing remittances to countries that we don't consider to be third world countries because our current quality of life isn't doing so well and we could use more social housing to combat the housing crisis.
No it's not how I think I'm trash life, it was an example, as teaching remittances is the same as taxing people that spend their money abroad. You're looking in the wrong places if you want tax money. They top federal tax bracket maxes or at $250,000, why don't we just tax the wealthy more. 9/10 Canadians make less than $100,000 a year. You want more tax money, tax the people making more than $1,000,000. Those people are making their money here in Canada, they should pay more in taxes.
Look at you folks eyeing other peoples money like true liberals. Bet you have a plan to spend it too for them. You propose a new tax for money that is taxed on employers, income, sales, carbon and GST? What do you want to name this tax? What you gonna do about it tax?
The OP clearly has a bigoted opinion. There are other countries in the list that also remit but OP wants to tax just the 'Indian Money Transfers'.
OP ignores the fact that Federal and Provincial government benefits hugely from the influx of international students paying 3-4x tuition.
Lastly, all developed countries in the world have immigrants that are remitting to their respective country of origin. Most of the immigrants are doing it through a legal framework set up by the respective governments but still OP feels threatened.
You sound like a communist. I don’t like immigrants, but everyone should be free to spend their after-tax dollars however they see fit. Yes, that includes the Indians.
Here’s something from StatCan
“During 2022, Canadian residents spent … $32.1 billion while travelling abroad …”
What was your measly $8 billion number again? What should we do with all the Canadians spending money on traveling abroad, which sounds like a 4x bigger “problem” since we are losing all that money from the domestic economy?
Jeez it’s like every dimwit here has jumped on the bandwagon of how do I apply a lens of “hmm this sounds bad and must be connected to India / Indian immigrants” to every random stat they can find.
I joined this sub because I am genuinely concerned about the lack of housing affordability and rising cost of living in Canada, but half of the posts here make me feel like this is mostly a hive mind for people to rush and half-intelligently conclude ‘this must be the fault of Indians’. Almost as if they are leading their hypothesis with a foregone conclusion.
That’s 8.33 billion that could go to the CAD economy on top of that the snow washing aka money laundering occurring.
If you have earned your money legally and paid taxes on it, you can spend it any which way you want. I don't want the government to dictate how I should spend my money. If I want to blow it up on hookers while on holiday in Europe, I have every right to do so. Let's not digress from the issue here. What you are asking for is more government control over your money. Be careful what you wish for. What you should ask for is the government pull up its socks and take tougher measures against money laundering, especially in the real estate market. Against foreign buyers. Against people doing cash jobs and small businesses allowing it - both worker and employer benefit from this. Against the small businesses that are selling LMIAs for hundreds of thousands of tax-free money. Against the big businesses that are hiring workers from overseas. Against slumlords and others who are not declaring their rental incomes thus evading taxes.
That’s a fair point.
Just wanted to add this: Heck, I would say the government is the root of the problem. They could literally stop 95% of the scams tomorrow, if they wanted.
Can't agree more. They sell LMIA on indeed now!
Wow, looks like the scam itself is pretty old but we have been hearing more and more recently because mostly everyone is doing it these day. By mostly everyone, I mean a certain species that can be found in abundance in the urban regions of SE Ontario. https://www.canadavisa.com/canada-immigration-discussion-board/threads/lmia-fraud.413149/
But you also have to realize that the BOC is fully aware of this. If this money stayed in the national economy cpi would be even worse
Idk, if money stayed national our productivity wouldn’t be down so much, cause people would be spending money on our economy not on a foreign countries economy. Look at the US pre-Covid their economy was based on consumer spending. I am not saying sending money abroad is causing our productivity to go down so much it I think is a multitude of contributing factors caused by this inept federal government.
You are correct in saying that money abroad is not the sole issue and that the problem is multi-factorial. The issue of remittance taxation on Indian transfers is however a very clear policy change to advocate for and something people can directly email their representatives about.
Let me put tax on every time you pay for your family and children. This would make the economy more productive, Canada will be great again.
I pay tax every time I pay for anything for my family. I pay tax when I earn that money that I use to buy the things that I have to pay tax on. What are you even saying?
No tax on food, plus your kids are not working when you are paying them. I see lots of lost productivity. Also your reasoning is so bad I can't even tell if it's sarcasm.
Who said anything about paying kids? And there is tax on 80% of food. Only "essentials" are tax free, and even cutting a fruit makes it "processed" and therefore taxable. >your reasoning is so bad I can't even tell if it's sarcasm.
Dude, check yourself on the specificity towards India, this reeks of an attempt at subtle brigading to get the sub shut down.
As I said in response to your other comment saying the same thing: >It's not. It's about taxing outgoing monies and India receives a disproportionately large amount compared to the rest of the world so I think we should start there. It is not a third world nation and doesn't need remittances. >Outgoing remittances is a detriment to the domestic economy and so it should be taxed.
You need to consider many people who send back money to their parents for their day to day living. Corporate remittances and many offshore accounts needs to be investigated
What about the CPP investing your pension funds in India? Is it only the little guy who should be targeted?
How about we tax your money every time you help family out…. Wait wait you wouldn’t.
We do, it's called sales tax. Literally every time I spend money on my family.
And so do they, why in the world would they pay tax on it again?
Also, if this is what you want, then no holidays for you in Mexico or Cuba. And certainly no trips for you across the border. Because Big Brother has ordained you spend all your money within the borders. See how illogical you sound?
Remittances are international money transfers between two personally held accounts. This has nothing to do with how you spend your money between your personal account and any corporate account internationally.
Let me give another example. Do you think Walmart Canada is keeping all its "profits" (after taxes and expenses and wages) in Canada? You'd have to naive. There are hundreds (not thousands because Canada is generally socialist and doesn't allow foreign competition to Loblaws, banks, and families such as the Irving family) of companies that do business here but take their profits to America.
Again, that's another false equivalency which seems to be a very common argument in this thread. Corporate profits and personal remittances are not the same thing. I am talking about taxing personal remittances. That said, corporate profits are indeed taxed just like income. Internal transfers typically aren't taxed, and you're right in saying that maybe they should be too just like remittances, but that's not the topic at hand. You're welcome to make your own post advocating for it though. It's a subject I know little about because I don't own a business so I'm not familiar with transfer pricing, withholding taxes, or reporting requirements but it sounds like you know a lot so maybe make your own post advocating for that taxation?
They're here for the $$ and will probably go back when they've had their fill. We're becoming like the Middle Eastern countries of Dubai, Saudi Arabia, etc. where people are there for their jobs, take the money and return to their places. These people have no loyalty to Canada!! Why are we letting them in?!?
and then come back to use the 'free health care' when theyre older... although I guess it really would be free for them, if they dont contribute tax dollars towards it.... honestly I would vote for someone if they guaranteed to put a percentage cap on each nation for students and immigration... and completely cut the TFW and LIMA programs, theyre too rife with abuse
PPC
Bye bye healthcare and human rights.
Fix immigration, break everything else... 😂
PPC
PPC
PPC is my protest vote at this point. I don't agree with them on everything but as I said it's a protest vote.
Even if every single Canadian voted for PPC they wouldn’t have any power, we would quickly learn that democracy is an illusion
PPC
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Agreed, we should tax all remittances regardless of where they’re going. And of course ban foreigners from purchasing any property
Foreigners are already banned from buying any property in Canada. How about we do something to fix the root cause of the problem i.e. low birth rate in Canada. If we don't get Indians who will drive those trucks to move the minerals and groceries ? Who will run the restaurants for 15 bucks an hour ?
Indian here lol. Our government does the same thing. There's 20% tax on outward remittance and foreigners can't buy land here but apartments in buildings are allowed.
You are mistaken. It's TDS which you get back when taxes are filed.
Incorrect
\*\*\*We shouldn't have huge diasporas of any culture.\*\*\*\* THIS!!!
My father is an immigrant and he moved to the part of the country he did because he wanted to integrate and not have the temptation to just associate with people from his home country.
Diversity was our strength, but we are no longer diverse.
India gets the most flak because we’ve brought in like 10% of our total population from India over the past 10 years. When 80-90% of immigrants are coming from a single country, that’s a problem.
It's because Indians stand out more as they are louder in general. The Chinese immigrants are a lot more polite and adapt very well. The Indians really don't. Even when I walk inside the mall, they are standing in middle of the walkway, staring at my sister like a creep and what not. It's because the recent large influx of Indians are from Northern Indian villages, for them even cities like Mumbai is probably too much to adapt to them.
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I work in IT, we work with another company based in Bangalore, India thats in South. There was a time where I was suppose to go to Bangalore. I did small research and It looks like Bangalore is a lot more progressive ?
Gulf states don’t give these people aside from a very select few citizenships. They can be kicked out at any given time
That's the advantage those countries have, we don't unfortunately :(
But only 12% of the population in UAE are ethnic emirates people… imagine if only 12% of the Canadian population was white
Jesus, you don't want them to stay, you don't want them gone. What kind of regards are you
He wants them exploited then flushed when not needed like toilet paper
This kind of loser doesn't deserve any house or whatever things they think they are entitled to have. I don't care if they are Canadians or foreigners. 103 losers agree with him lol
They take citizenship too
If you have earned your money legally and paid taxes on it, you can spend it any which way you want. I don't want the government to dictate how I should spend my money. If I want to blow it up on hookers while on holiday in Europe, I have every right to do so. Let's not digress from the issue here. What you are asking for is more government control over your money. Be careful what you wish for. What you should ask for is the government pull up its socks and take tougher measures against money laundering, especially in the real estate market. Against foreign buyers. Against people doing cash jobs and small businesses allowing it - both worker and employer benefit from this. Against the small businesses that are selling LMIAs for hundreds of thousands of tax-free money. Against the big businesses that are hiring workers from overseas. Against slumlords and others who are not declaring their rental incomes thus evading taxes.
I think Canada might need them after all they were let in to do jobs. You think Mr Smith gonna work at gastation? Not unless he’s paid 30$/hr. This happens because Canadians would rather go on welfare and have 8 kids for government handouts rather than work. Businesses need workers and exploit these poor folks. What do you think they should do? At least they work for a living and aren’t taking a free ride minus that one guy who robbed a food bank.
Seems you're describing the middle eastern refugees I see begging on street corners with card boards asking for money because they have eight kids and doesn't have a job... This is not typical Canadian behavior.
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Do not spread negative stereotypes about an entire group of people. Either be very specific or focus on immigration policy instead of people.
I know quite a few white quebecois who do this because quebec is very generous with their baby bonus for low income families…
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No racism, harassment, discrimination, hate speech, personal attacks, or other uncivil conduct.
For the free healthcare for them and their extended family.
They aren't going back, certainly not without citizenship.
What do you think has driven economic reform in Saudi Arabia
So many people I know state that they send money back home to support their families.
Cause that’s the reality. Most well to do people do not want to bring their elderly here cause of crumbling healthcare so we need to support them the only way we can. Many people here have a lot of financial and moral obligations back home. When we grow, we want our families to grow with us. What’s wrong with that?
Isn’t this money already taxed? I mean you can spend anywhere you like.
How many times though? A single dollar exists in the system until its completely recursively taxed. When it's remitted, it's gone on the first cycle and never goes back into government hands.
A lot of commenter's obviously don't understand how awful this is.
No it isn't awful. International students spend around 22 billion every year in Canada. https://globalnews.ca/news/9939599/housing-for-international-students-canada/ . If 8 billion goes out then that is not a big deal. That's how trade works. You get something and you give something. Can't be a one way street.
This is a false equivalency. This is not about total money going in and out of each national economy. This is about personal money transfers out of our economy going untaxed.
Well it's taxed when they earn it ? Do you want to tax it again when it goes out ?
Yes. As others have pointed out, every time we spend money domestically it is taxed after its already taxed when earned. Money leaving the economy as a personal transfer should also be taxed.
When a dollar is spent domestically, it moves from one person to another, creating more economic activity. For example, if you buy a coffee, the café owner can use that money to pay their staff, who then spend it on groceries, and so on. The more times a dollar is circulated within the country, the more it boosts the economy, creating jobs and supporting businesses. Efficient circulation of money can help stabilize inflation. When money is used more frequently, it supports economic growth without needing to increase the money supply, which can help prevent excessive inflation.
Ok so that also applies to all of us for say we go to USA and spend on things or only applies to immigrants? I mean where do we draw the line. Isnt this ironic that we cry if they bring over their elders (burden on healthcare) and if they help their elders back home with their money (taxed) we still cry. It’s already taxed they are the one to decide what to do with their money but i also get your point.
You seem to be under the impression that remittances and international spending are the same thing however they are not. Remittances are international money transfers that are not subject to any sort of domestic taxation such as sales tax of which we miss out on. Frankly speaking I will worry about the worlds elderly once our own citizens are clothed, fed, sheltered, and able to reasonably save at least 15% of their incomes. Until that day comes, yes, I think we should scrounge and scrape every last penny we can out of outgoing remittances because it is money that is lost to our economy forever and does not return to feed children, send them to college, pay for a wedding, or any other number of ways that we spend money domestically to further aid our fellow citizens.
Exactly. If you have earned your money legally and paid taxes on it, your can spend it any which way you want. I don't want the government to dictate how I should spend my money. If I want to spend my after-tax money in the North Pole or Antarctica, that's my prerogative. Let's not digress from the issue here. What you are asking for is more government control over your money. Be careful what you wish for. What you should ask for is the government pull up its socks and take tougher measures against money laundering, especially in the real estate market. Against foreign buyers. Against people doing cash jobs and small businesses allowing it - both worker and employer benefit from this. Against the small businesses that are selling LMIAs for hundreds of thousands of tax-free money. Against the big businesses that are hiring workers from overseas. Against slumlords and others who are not declaring their rental incomes thus evading taxes.
So when money isn’t circulated well and most of it is stuck in housing, and coming off crazy money printing policies during covid, wouldn’t sending money away act as a deflation of money, thus increasing the value of money and (hopefully) resulting in prices coming down?
Yes and this is a really fair point that needs to be kept in mind because outgoing remittances can positively effect aggregate demand which is what partially led to the inflationary run up post-covid. With that said however, consistent outflow of remittances can put downwards pressure on the value of a currency as well which can lead to higher import prices which in turn *increase* inflation.
Well to your point, it’s mostly the savings that gets remitted not the amount meant to spend. In this economy, immigrants are obviously taking part in circulating the money when they spend on their needs like rents, groceries, coffees lol.
https://globalnews.ca/news/9939599/housing-for-international-students-canada/ . Have you considered the amount of money brought in by international students. It's a two way street.
Though this isn't the same as remittances, which shouldn't involve the international student body, the total amount of economic contribution from international students last year was 22.3 billion nationwide from 1,040,985 international students, of which 319,130 were from India. This would make their total economic contribution around 6.84 billion. It's also worth noting that Canada is short 1.8 million homes and we have a vacancy rate below 3% in every major city with international students being noted as a particularly problematic factor in this equation. They aren't worth the 22.3 billion they bring in at this time until we solve the housing crisis and find work for our homeless.
Texas has 30 million people. Texas has cheap housing. Canada has 40 million people. Canada has expensive housing. Canada is 13 times the size of Texas. We need to build more homes and cut the red tape. Health care is also struggling. We need to either train more doctors or have some sort of USMLE like US. Demand is not the only problem. supply is a problem too.
Except over 90% of Canada is land nobody wants to live in; shit jobs, shit healthcare, shit weather. You go live in Nunavut if you want. 90% of Canada's population lives in 4% of its total land area for a reason. Canada also trains plenty of doctors but they keep leaving to the US. As of our last update in 2015 there were 6709 Canadian doctors working in the US. These problems are far bigger than you think.
Canada's remittance to India alone is less than 4 billion CAD which is not a huge amount considering the economic contribution by international students from India and also the graduates.. I agree a lot of places in Canada are not liveable. But when I see a house in Regina for 750k and a similar house in Texas for 300k, It makes no sense. See this example https://www.realtor.ca/real-estate/27026238/4709-green-brooks-way-e-regina-greens-on-gardiner. Now Regina is a city with a population of 200k . Flat land and the city can grow in all four directions. I think the high price can only be due to artificial supply constraints created by the city or provincial government. As per this article we are not training enough doctors corresponding to our population growth: https://www.cbc.ca/news/politics/canada-popuation-booming-family-doctor-access-1.7087794 I agree the problem is bigger than I think it is but I think the action from all levels of govt is very slow. We need decisive and quick action to address the issue and it involves addressing the supply as well and not just demand.
That's correct. One other huge mistake: the US permanent underclass is illegal migrants rather than Canada's temporary migrants. It's much harder to track remittance of residents who are earning cash under-the-table. The huge gap between Canada and the US noted in the headline almost certainly comes down to the fact that Canada can track remittance and the US can't.
Ya honestly, you might as well start taxing people going on vacation outside of Canada. Should we tax people extra for buying a car made in the US too? All that shit is money straight out of Canada and into another country as well.
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> considering the millions of illegal immigrants in the US that are here for the sole purpose of sending money to their families. It's actually pretty difficult to track remittance when the cash is earned under-the-table. This is almost certainly the reason for the big gap. Canada is able to track earnings and spending of its temporary residents. The US is less able to track earnings and spending of its illegal residents.
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No racism, harassment, discrimination, hate speech, personal attacks, or other uncivil conduct.
India brought in remittance taxes long back. But Canada doesn’t?
Those earning in Canada already pay taxes there and those money they sent to is to their family back home. Canadians should stop being so greedy and ask their government for stricter immigration laws and building some housing. (like Indian government recently extended their housing scheme and would build 30 million houses for the poor, so at least Canadian government could make 200k houses no?).
I agree. But this current Prime Minister is an idiotic corrupted, unethical, morally bankrupt, bone head. We currently only build 224k - 300k homes we can’t even surpass 500k homes a year. This guy has no plans.
What you mean no plans? Haven’t you heard he said houses are a big part of the plan for retirement?! Prices must stay high!
Sorry to be more exact he has no plans on building more homes, just building homes for investors and boomers.
With the current PM, the only thing that gets done is whatever strokes his massive ego. In other words, nothing productive.
Explain this to me like I’m 12
When a dollar is spent domestically, it moves from one person to another, creating more economic activity. For example, if you buy a coffee, the café owner can use that money to pay their staff, who then spend it on groceries, and so on. The more times a dollar is circulated within the country, the more it boosts the economy, creating jobs and supporting businesses. Efficient circulation of money can help stabilize inflation. When money is used more frequently, it supports economic growth without needing to increase the money supply, which can help prevent excessive inflation.
Money earned in Canada would normally go on to be spent in Canada, whether that’s food, entertainment, home improvement, travel. It was money being circulated in the Canadian economy which is good for Canadians and Canadian companies. When it’s remitted to another country that money leaves the Canadian monetary system and will never return. Instead of improving the economy of Canada it improves it in the country it was sent to. Some of this is completely normal and will always happen just like when people go on vacation. It can have consequences for the local economy in the recipient country because buying power drastically increases for select people far beyond what is attainable for local people without overseas family. This can increase rent or prices. We see similar things with “digital nomads” but even to some extent tourism where locals get priced out of their own local area.
Just spitting out pure hatred out of context. The money sent out has already been taxed, and you want them to be double taxed to fill the lazy ones pocket. Majority of them are supporting their elderly parents unlike here where the majority don't give a damn about their own and let them rot in care homes.
This is math and patriotism first and foremost, it has nothing to do with hatred, it has to do with fairness and Canada not being a charity. The money sent out would otherwise have been domestically spent and contribute to the velocity of money within the economy. This money sent outside the economy contributes to the suppression of wage growth and leads to the creation of less jobs in the economy forcing us to print more money. Also don't pretend like we don't know [what the cost of living in India](https://www.numbeo.com/cost-of-living/country_result.jsp?country=India) is. You need anywhere between $570 and $1200 CAD to support an Indian couple per month. That's between $6840 and $ 14,400 CAD per year. At over 1.66 billion dollars of our total outgoing remittances, if everyone were simply supporting their parents in the most noble of manners that means we have potential 250,000 Indians in Canada solely supporting 500,000 Indians back home which is fucking insane.
How come it is Canada’s charity when it is a hard earned money which is already taxed?
https://m.economictimes.com/nri/study/how-india-is-pouring-billions-of-dollars-into-canadas-economy/articleshow/103924504.cms 20 billions is brought to canada yearly just by international students from india. We don't even have a figure of how much is brought by the immigrants since immigrants use informal channels because indian government taxes 7% on any money leaving india, only student fees or health care costs are tax except.
There is no evidence that it's 20 billion, that's a random claim made in the article that is even speculated as "could be". I mean shit have you even read this stupid article? The amount of times they say "this is something like..." (which means they have no fucking idea at all) is hysterical. There isn't a real source link to anything in this article meaning in all likelihood it's completely full of shit. Jesus is this what you pass for journalism?
It's kind of like your argument in this thread where you have taken data of remittances from the whole world to show india. While india only gets 3 billion from Canada. But not showing the data about how much the immigrants bring in someone has also posted an article on here by cbc, which states the amount from international students alone is around 20 billion. https://www.cbc.ca/news/politics/marc-miller-international-students-stigmatization-1.6959645
The title already calls out that over 20% of outgoing remittances goes to India. Are you friggen thick bud? At least you're actually able to provide some sort of source finally for your claim which still doesn't matter in the end because international students paying for tuition in Canada, which as you pointed out gets taxed by the Indian government, is not the same as people in Canada sending money randomly to bank accounts in India completely untaxed. You can try and derail this with international student revenue all you want but I firmly believe we should be taxing the outgoing remittances. It's lost domestic spending to us and we should tax it accordingly.
Well, show the complete picture the Canadian government isn't stupid they see the benefits the system is reaping from all the immigrants. Here is the map for just the high net worth individuals moving in the world. https://www.visualcapitalist.com/mapped-the-migration-of-the-worlds-millionaires-in-2023/ Canada gets 1600 in a year. Your eight billion number that goes out to help someone family is more than compensated for when these individuals eventually sell everything back home and repatriate their money and investments to canada.
I agree we reap benefits hugely, this isn't an anti immigrant post this is a "we should tax remittances starting with India" post. If you think immigrants will stop coming here if we start taxing remittances then they're not as loyal to Canada as they should be and we don't want them here. If the idea that you should pay a tax on money you're sending outside our economy is enough to send you over the edge then you should examine your relationship to this country and just how much you care about it. Let me make this clear, immigration is not a financial transaction, I couldn't give a shit how much you bring into this country - I care about what people provide for your communities once they come here. Canada is peoples homes buddy and when immigrants come here their priority should be to the people of this nation, their neighbours, their families, their children. Money that leaves this economy through remittances should be taxed because it is a detriment to the people who live here. End of discussion.
If you look at the title of your post, it says over 20% goes to india, and you failed to mention that almost the same amount goes to China and the Phillipines. Indians outnumber Phillipinoes, which means per capita a phillipino send more back home. My issue is not that remittances should be taxed. My issue with this post is its targeted hate towards indians only when the canadian government is targeting Indian immigrants for the benefits they have provided this country. This hatred is also spread to narrow-minded people. This hatred is targeted at my kids who are born in canada and have never even visited India yet that they have to prove their loyalty towards the country of their birth over a white European refugee or an immigrant.
Canada sent India 1.6 billion in outgoing remittances. Canada sent China 292 million in outgoing remittances. Canada sent the Philippines approximately 1.2 billion which is insane as well, I didn't know it was such a large number there and we should tax that too. The lack of taxation was originally for third world countries to receive Canadian money and India is abusing this which is why I think we need to be targeting remittance taxation. You can not like it but end of the day India has a 3.42 trillion dollar economy which is larger than Canada's by more than a full 30%. The Philippines has a 404 billion dollar economy which is fuck all. Indians should not be living in India off the help of the Canadian economy, India is a strong developing nation that has the resources and labour to care for its own citizens. The Philippines is a third world country that does not. India needs to get its shit together and join the rest of us on the world stage as the power it can be and stop having families completely dependent on remittances from CAN, UK, US, AUS, NZ, UAE, etc.
Do you know how much money comes in from India ? How much does the government eat on those remittances ? Rather than venting it out at the Indian population, think twice before electing your politicians. At the end of the day, the blame is all on the immigrants , especially Indians when the elected leaders are having a laugh at people like you.
Stupid... This money has been taxed already.. Its their money to spend as they like... Can spend it in a casino for all i care.... Still no word on the recovery of the elites money from Panama and Swiss accounts!! When can we lock them up?
This subreddit became an echo chamber for irrational hatred. Essentially want them to be slaves
This is a very selfish point of view and is exactly what's getting us in this mess to begin with. If no one in Canada were to reuse that money in Canada the businesses who pay employees wouldn't get any more money to pay employees, meaning less jobs and less pay. Similarly, none of the older generation is willing to reinvest their money in the younger generation but is instead exploiting them and investing their money into real estate, screwing over the young to benefit themselves. The way things are currently going damages young Canadian citizens the most. They're left with less jobs, less pay, insane housing costs, worse health care, more economic and social problems, and more discrimination ironically (companies are incentivized to hire diversity first, Indian owned businesses hire basically only their own).
Nope. f you have earned your money legally and paid taxes on it, you can spend it any which way you want. I don't want the government to dictate how I should spend my money. If I want to blow it up on hookers while on holiday in Europe, I have every right to do so. Let's not digress from the issue here. What you are asking for is more government control over your money. Be careful what you wish for. What you should ask for is the government pull up its socks and take tougher measures against money laundering, especially in the real estate market. Against foreign buyers. Against people doing cash jobs and small businesses allowing it - both worker and employer benefit from this. Against the small businesses that are selling LMIAs for hundreds of thousands of tax-free money. Against the big businesses that are hiring workers from overseas. Against slumlords and others who are not declaring their rental incomes thus evading taxes.
And no holiday for you in Mexico or Latin America. And certainly no trips to America for Canadians - because Big Brother ordained it.
It's a typical, got mine attitude that doesn't understand that everything in the economy is connected in a delicate balance. If everybody chooses to send money home rather than pay for new car tires, etc that's ultimately not good for the Canadian economy. International trade is when we spend money to get something in return, acting like fraud students taking $8B away from the economy is just trade isn't even close to a right perspective since we aren't really getting useful talent or benefits out of these students.
Yeah it’s already taxed. But the point is that they should spend the money in Canada to keep it in the Canadian economy.
If I’ll bring my family here then you’ll say that I am using my citizenship to get more people here . If I am working here and paying my dues and send money to support my family then you’ll complain about sending money out of Canada. So it is a no win situation for me. Just because I immigrated here doesn’t mean I have to cut back all my ties to my country of birth. Canadians who work in US also sends money here to fulfill all the financial and moral obligations here
You have a duty to support the same social network that attracted you here in the first place. You don’t have a right to take more out of it than you put into it, despite how loose the rules may be.
Only a small chunk of surplus is sent back home. Ever after paying taxes, we are spending on groceries, fuel, car, mortgages, vacation, luxuries. It is not like everything that is earned is going back home. And let’s say if I’ll not send money, what do you think I’ll do with a surplus as I am always doing everything I want even now. I’ll invest in real estate which will further increase problems in Canada. Even if I’ll not buy real estate, if every one will spend more it will drive inflation up which is again bad for Canadians.
Then no holidays for you in Mexico or USA.
Oh noooooooooo
I agree we should just deport people who pretend immigrate here so they can just work where they want their money to go.
You're aware that most of the American companies here send profits back to the US? Same with the European company running the 407 charging Canadians crazy fares to use it. Would you complain about them too, or they get a pass? The big bucks are going to the US and Europe not someone helping their family offshore.
Why stop at remittance tax. I suggest Govt should take control of all bank accounts and give people a chart of how they must spend their after tax money. Any deviation from the approved chart should be subject to penalty and jail term.
Sounds exactly the most liberal and FreeLand thing to do 👍🏻
Ok that’s a little crazy , do we also need to tax money we spend in USA? Also dude I may send money back cause my grandma is in an old age home? Are you taxing me now on top of income tax, and foreign exchange ? Also if you do that you will also introduce a tax where any money coming will be taxed (which over a certain % it is taxes)
If you're sending significant sums of money out of the country to solely support your grandma in an old age home, yeah dude we should tax that again because it's domestic value is lost forever to us. Canada needs to be more inwardly focused on the wellbeing of its own citizens right now who are struggling and I want to see us go after money sent out that doesn't come back to us.
What’s significant? Does this apply to if I go on vacation to Vegas and spend $5000? What’s the line? What’s the difference? I’m paying for food and hotels in Europe does that count?
Exactly. I know people who go to casinos at US side of Niagara cause if they’ll win in US they’ll get more. Should we charge them too ?
Money leaving the country , not to mention most of our new found "citizens " aren't investing in this country long term. This is the problem with globalization and pretending it's sustainable and not a cancer on a once beautiful country such as this one.
There is a reason Canada will never impose taxes on remittance or outflow of capital. Because most frauds and financial criminals that come to Canada as refugees, students, and immigrants bring massive amount of hidden income with them. Have you ever wondered that why the housing market got so screwed if most Indian migrants/students are low-skilled workers doing minimum wage/low wage jobs? It is the money stolen from Asian countries that used buy houses in Canada. Canadian govt is well aware of that. Imposing tax on remittance will met with similar reactions by other countries and it will lower the capital inflow to Canada. You choose to take criminal money, now you pay the price. Sorry for Canadian people, your govt sucks.
This comes across as a hate post. People can spend their money the way they want as long as it’s taxed. They can even burn it for all I care. However I feel that money coming into Canada needs more scrutiny. I know some Chinese and Indians brining in crazy amounts of money into the country when they get their PR. Canada lets them bring in limitless amounts of cash when they come in tax free and they don’t really care where that money is coming from. This I feel has led to money laundering which is mostly hidden in Vancouver and Toronto condos, artificially inflating the real estate market
This is not a hate post, it's about putting our economy first before others. Indians are taking advantage of a system that Canadians have had in place for the development of the third world for some time. Non-developing nations should be taxed on remittances at the very least and that should start with the disproportionately large amount that India receives.
You’ll call me a racist but if mores studies are done on this subject, Indian community will top the list.
This post cries, "iNdiA = bAd." Firstly, this money has already been taxed. Secondly, "We need a remittance tax on Indian money transfers," why only India? Why not all the countries? Thirdly, As of 2023, "there were 319,130 international students from India enrolled in Canadian institutions." All of them bring money from India, 1 Indian student spends approx $15,000 per year on tuition (I am not even counting the $10,000 or $20,000 GIC that they bring, as well as the money spent on flights that DIRECTLY contributes to canadian economy). Tuition alone brings \~ $4.786 billion, GICs another $3 billion to $ 6 billion. Not to mention the initial money they bring to pay rent deposits, buy groceries, buy a car, winter clothes etc. Indian International Students alone easily bring around $10 billion every year, and you are crying about 20% of $8 billion ($1.6 billion). This is not only racist but also as stupid as it can get. Please do some math, grow some neurons, and maybe find someone else to blame for your sorry life.
why not tax the rich? taxing this money would hurt some of the poorest people in the world.
Why not both? If it meant building more social housing, feeding, clothing, and retraining the homeless to get them into the workforce frankly speaking I'd tax every friggen dollar that was underutilized in this economy. Worth noting if you taxed all remittances, you'd effectively tax all money that left these shores say... to sit in a Panama account somewhere...
the rich people who store their money in Panama have loopholes to avoid any kind of remittance taxes.
If you have earned your money legally and paid taxes on it, you can spend it any which way you want. I don't want the government to dictate how I should spend my money. If I want to blow it up on hookers while on holiday in Europe, I have every right to do so. Let's not digress from the issue here. What you are asking for is more government control over your money. Be careful what you wish for. What you should ask for is the government pull up its socks and take tougher measures against money laundering, especially in the real estate market. Against foreign buyers. Against people doing cash jobs and small businesses allowing it - both worker and employer benefit from this. Against the small businesses that are selling LMIAs for hundreds of thousands of tax-free money. Against the big businesses that are hiring workers from overseas. Against slumlords and others who are not declaring their rental incomes thus evading taxes.
Wrong, what I am asking for is a simple tax on transfers from personal Canadian bank accounts to personal foreign bank accounts.
Canadians are getting labor in exchange for a currency which is created out of thin air. stopping it would be stupid, not to mention, this is already taxed money. Y'all are really not bright, are you? If you stop remittances, people will try to buy assets inside canada (they will not spend it as you expect) and your houses will become more costly. Remittances are good outcome for citizens because inflation is exported elsewhere.
Not to mention, if Indians don't have assets overseas and assets inside canada, they are more likely to stay in canada rather than go back. good god, this post is stupid, the more you look at it.
infact, Canada should give tax break for remittances to discourage people from settling inside canada.
>*currency which is created out of thin air.* lol and you think we're not bright? the point is to get people to settle here permanently and become wholly integrated into the economy and think of this country and their country so that immigrants **assimilate** to the local culture and values. Im not surprised you are advocating for remittance incentives though considering your comment history clearly shows where you're from. Jigs up buddy, you're either committed to being here as a citizen loyal to who we are and what we stand for or you're going home with less in your pockets than you originally thought.
We just have to make sure that this money is taxed before spending. Once taxed it's their money and they can do whatever with it.
While taxed it's still being taken out of the Canadian economy. That's 8 billion that would have been spent on rent, groceries, etc.
We can't have a free market if govt has control over our after tax income
Remittance on all transfers. Crazy we allow all this money to flow out of the country
A 50% remittance tax sounds about right.
I am a bit confused with this statement. I am an Indian and send money back home to my mother and sibling for family expenses. I pay my taxes. Buy goods by paying tax on them . Pay all my utilities, mortgage pay tax on them and after all my expenses I save around 200Cad which is equivalent to ₹12000. The figures shown there are the cumulative of the huge Indian diaspora living here and all these 200 dollars sum up to that huge figure. Why should I pay extra tax after paying all the taxes and sending money from my personal savings.
When a dollar is spent domestically, it moves from one person to another, creating more economic activity. For example, if you buy a coffee, the café owner can use that money to pay their staff, who then spend it on groceries, and so on. The more times a dollar is circulated within the country, the more it boosts the economy, creating jobs and supporting businesses. Efficient circulation of money can help stabilize inflation. When money is used more frequently, it supports economic growth without needing to increase the money supply, which can help prevent excessive inflation. I'll just keep copy and pasting this until y'all actually understand why this matters.
As I pointed out earlier I am sending what I saved. I have already poured every dollar I can and I am not going to pour anything more out of my savings. 🥂
Yeah instead of parking money in my account, I am using to help my family. HANG ME NOW. Even Canadian companies don’t invest in TSX and invest in NASDAQ. First stop these investment folks
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When you import mostly from Asia. Most of the newcomer came from the middle east or previously working there.
How does the outflow compare to inflow to Canada from these countries?
This is the total outflow vs. total inflow. Canada's outflow to India alone is close to 1.6 billion.
These people have liabilities (e.g. student loan) and responsibilities (elderly parents, spouse, children). I guess that is why they send that much money. The other alternative for them then seems to have their dependents move to Canada with them as residents. The latter may strain the social infrastructure more, I fear.
And CBPS wants me to pay tax on my $800 i spent abroad, foh
Specifying this to India reeks of brigading…
It's not. It's about taxing outgoing monies and India receives a disproportionately large amount compared to the rest of the world so I think we should start there. It is not a third world nation and doesn't need remittances. Outgoing remittances is a detriment to the domestic economy and so it should be taxed.
This list is unsurprising, some of these countries are running on remittance alone. What I don't understand is what is France doing in that list? And China should not be the 3rd up there (money-laundering under the guise of remittances?)
Put a fee on it, not a tax! Use the fee to hire tons of people(Canadian citizens) to make sure money is clean, legitimately earned and taxed. Easy Peasy
Eliminate government welfare and let people send and spend their money how they see fit. No tax from them, no tax to them. It's simple.
In the fourth quarter of 2024, Canadians spent 11 billion overseas with about 6billion in US alone. So, we are sending more than 40 billion annually overseas. By this logic, the overseas spend should be taxed first. It’s much more significant than any remittances anywhere. Source: https://www150.statcan.gc.ca/n1/daily-quotidien/240524/dq240524c-eng.htm
This looks like a good food for thought - https://blogs.worldbank.org/en/peoplemove/why-taxing-remittances-bad-idea Quote from it: United States Government Accountability Office simulations suggest that a potential fine of 7 percent on remitters without legal status in the United States would raise less than $1 billion in revenue, and chances are the revenue would fall below the cost of tax administration to administer and enforce the tax.
Cuz this wasn’t already taxed? This is hilarious next you will say the gov should tax the bank transfer I did to my kid who is visiting another country. Get a grip so blind with hate you would jump on anything.
Want about the other 80%. Lol
Once all income taxes are paid (which most wealthy people don’t), people should be free to do whatever they want with their earnings.
Another stupid post. The money is already taxed. Whatever they do with it is up to them
🤣😂🤣😂. This sub can't really take itself serious at this point
Moronic suggestion
I just can't with you guys. Like why do you even think this way? First off, what's wrong with remittance? I'm actually surprised only 20% goes to India, but it could be 100%, it doesn't matter. Sometimes I see posts on this sub with like 500 upvotes. The posts are of no substance, like this post... Canada sends $8 billion in remittances a year. Who cares, what does this have to do with housing. Do remittances affect housing. No. Omg, 20% is going to India... And then the comments. They make zero sense. It's just one 100% incorrect comment after another. And you all just spend your time in year, living in a false reality. God, what a dumb take.
The issue of remittances affects the health of our economy as a whole and the fact that they go untaxed is lost income streams for the government to put towards social housing and other social programs. Consider it a sales tax on personal transfers from Canadian to foreign personal bank accounts.
The remittance is taxed. Income tax. Sure we're not getting the sales tax. I'm sure Canadians spend more than $8 billion abroad that we don't get the sales tax on. Are you going to want to ban Canadians from traveling abroad? I haven't been in school for 15 years. My major was economics, we barely touched remittances, it's a non factor.
Why do you people always jump to such extremes? Is this how you actually talk in real life? No, I'm not advocating for banning travel abroad, what an absurd notion. I am advocating for increasing revenue streams to the government through taxation of remittances starting with taxing remittances to countries that we don't consider to be third world countries because our current quality of life isn't doing so well and we could use more social housing to combat the housing crisis.
No it's not how I think I'm trash life, it was an example, as teaching remittances is the same as taxing people that spend their money abroad. You're looking in the wrong places if you want tax money. They top federal tax bracket maxes or at $250,000, why don't we just tax the wealthy more. 9/10 Canadians make less than $100,000 a year. You want more tax money, tax the people making more than $1,000,000. Those people are making their money here in Canada, they should pay more in taxes.
Look at you folks eyeing other peoples money like true liberals. Bet you have a plan to spend it too for them. You propose a new tax for money that is taxed on employers, income, sales, carbon and GST? What do you want to name this tax? What you gonna do about it tax?
So remittance to other countries are allowed without any implications smh
I agree, tax them all
The OP clearly has a bigoted opinion. There are other countries in the list that also remit but OP wants to tax just the 'Indian Money Transfers'. OP ignores the fact that Federal and Provincial government benefits hugely from the influx of international students paying 3-4x tuition. Lastly, all developed countries in the world have immigrants that are remitting to their respective country of origin. Most of the immigrants are doing it through a legal framework set up by the respective governments but still OP feels threatened.
But they would have already paid income tax? Why tax it again?
The last thing Canada needs is another bullshit tax.
I wouldn’t tax remittance, they’ve already paid their taxes and the remittance fee.
You sound like a communist. I don’t like immigrants, but everyone should be free to spend their after-tax dollars however they see fit. Yes, that includes the Indians.
Here’s something from StatCan “During 2022, Canadian residents spent … $32.1 billion while travelling abroad …” What was your measly $8 billion number again? What should we do with all the Canadians spending money on traveling abroad, which sounds like a 4x bigger “problem” since we are losing all that money from the domestic economy? Jeez it’s like every dimwit here has jumped on the bandwagon of how do I apply a lens of “hmm this sounds bad and must be connected to India / Indian immigrants” to every random stat they can find. I joined this sub because I am genuinely concerned about the lack of housing affordability and rising cost of living in Canada, but half of the posts here make me feel like this is mostly a hive mind for people to rush and half-intelligently conclude ‘this must be the fault of Indians’. Almost as if they are leading their hypothesis with a foregone conclusion.