this post was submitted on 06 Jul 2023
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It really depends on how you're paid. I'm paid through a Canadian payroll entity so all taxes are sorted properly with the CRA.
The only thing I've got to be aware of tax wise is maintaining my Canadian tax residency... which means being physically on Canada at least 6 months of the year.
Current plan is for them to make me a contractor to simplify things on their end. I would prefer not to do that, but if that is what it takes to make the move possible then I will deal with the fallout.
That's pretty common for companies that don't have a payroll entity in a particular country. A lot of startups do this and slowly add payroll in countries that have a larger or growing number of employees.
There isn't much for fallout. You will have to set aside $$ for CRA - either prepay into your CRA account on a quarterly basis or put money aside each month in an account you NEVER touch until tax time. It's not too hard to guestimate your taxes owed.
You will have to keep all receipts - you can claim quite a lot as a contractor. I'd recommend also hiring an accountant. It won't cost you that much - maybe around $500 if you are organized and make things easy by tracking things in a spreadsheet or personal accounting program.
You typically won't get benefits... but most companies will top up a fixed amount per month to allow for what you'd usually get as an employee.