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David Whittington of Tucan Golf Club and Resort – Best Places In The World To Retire User Account
Choosing at lot and home at Tucan Country Club and Resorts, Panama – Best Places In The World To Retire – International LivingPersonally, we have the Canadian Pension Plans plus we have the Old Age Pension, which are considered income so we still have to file on those.  I believe that the only time you don’t have to file is if you supremely leave Canada; if you renounce your citizenship, etc. 
 
However, we only have to pay income tax when the money is earned in Canada. We’re paying Panamanian taxes on the money we make here, but not Canadian tax. In Canada you only can be taxed once on your income.  
 
(Choosing at lot and home at Tucan Country Club and Resorts, Panama, pictured.)
ROSALIND MCCOY of PANAMA SIGNATURE REALTY – Best Places In The World To Retire User Account
But bear in mind, if you own any property on the soil of Canada, when you sell it, you have to submit 25% of the sale to the Canadian government.  If you want to avoid that hefty tax, you may consider to sell off your property before moving overseas, or just leave the property untouched until you move back.
Karyn Saunders of Inside Panama Real Estate – Best Places In The World To Retire User Account
If you become a non-resident then no you do not have to file taxes.  Becoming a non-resident is a matter of selling all property and closing all personal accounts.  You can leave your RRSP's in Canada but no other ties to the country can remain.  Once you become a non-resident then you do not need to file yearly taxes.  If you are not a non-resident then you will need to file your taxes every year.  

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Best Places In The World To Retire Expat Stories contains text, video, and photos by people just like you who are already living abroadUse the menu on this page to go to categories of Stories.
Best Places In The World To Retire Community Questions and Answers about living and retiring abroadUse the menu on this page to go to other categories of questions.
The Best Places In The World To Retire Location Advisor makes personalized recommendations for where to live and retire overseasGet matched to your ideal location to live abroad.
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Best Places In The World To Retire Expat Stories contains text, video, and photos by people just like you who are already living abroadStories by expats & others about their life aborad.
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