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Mexico income tax on Canadian pension payments

Blackwatch

@mexicogc Thanks for the information.


Interesting that you say the medical coverage is useless? What do you find are the weak spots where do you need your own coverage?


I called Sunlife and they said medication, private clinics including drs in these clinics, any imaging etc is covered. They did say anything in a hospital is not covered, ward stays, x-rays, lab work, operations and visits to drs that are employees of a hospital.

MikeGB

@Blackwatch If they say that hospital stays are not covered, that is not a good thing. What about an operation (say heart surgery) in a hospital? That could get quite expensive.


"Interesting that you say the medical coverage is useless?"  Who are you asking this question of? It seems you posted a new thread rather than using the existing one you started.

mrpres

What does this have to do with taxes on Canadian pensions???

mexicogc

@mexicogc Thanks for the information.
Interesting that you say the medical coverage is useless? What do you find are the weak spots where do you need your own coverage?

I called Sunlife and they said medication, private clinics including drs in these clinics, any imaging etc is covered. They did say anything in a hospital is not covered, ward stays, x-rays, lab work, operations and visits to drs that are employees of a hospital.
-@Blackwatch

HiI Blackwatch, the Sunlife coverage is good when living in Canada as a retired federal employee  but when living outside  Canada then your premium will double (was close to $200 when I retired in 2003 for me and wife) while the actual cost for full medicare via IMSS 2023 is $31000 pesos (<>$2200 CA) for both includinghospitals, meds 100%, etc... I personally had a major heart attack 5 days hospitalized in 2 hospitals no cost = normal intensive care unit vary between $8000 to 13000 pesos a day.


Adios y buen dia a todos GyC.

Blackwatch

@Blackwatch If they say that hospital stays are not covered, that is not a good thing. What about an operation (say heart surgery) in a hospital? That could get quite expensive.
"Interesting that you say the medical coverage is useless?" Who are you asking this question of? It seems you posted a new thread rather than using the existing one you started.
-@MikeGB


I was responding to "Mexicog", he mentioned he was a retired fed worker from Canada so I asked an additional question regarding medical coverage because I will be a retired fed employee as well covered by his plan.

Blackwatch

What does this have to do with taxes on Canadian pensions???
-@mrpres

Mexicog mentioned he was a retired fed worker so I asked him a question about medical coverage. I don't think there's anything wrong with that?

Blackwatch

@mexicogc Thanks for the information.
Interesting that you say the medical coverage is useless? What do you find are the weak spots where do you need your own coverage?

I called Sunlife and they said medication, private clinics including drs in these clinics, any imaging etc is covered. They did say anything in a hospital is not covered, ward stays, x-rays, lab work, operations and visits to drs that are employees of a hospital.
-@Blackwatch
HiI Blackwatch, the Sunlife coverage is good when living in Canada as a retired federal employee but when living outside Canada then your premium will double (was close to $200 when I retired in 2003 for me and wife) while the actual cost for full medicare via IMSS 2023 is $31000 pesos (<>$2200 CA) for both includinghospitals, meds 100%, etc... I personally had a major heart attack 5 days hospitalized in 2 hospitals no cost = normal intensive care unit vary between $8000 to 13000 pesos a day.

Adios y buen dia a todos GyC.
-@mexicogc

Thank you, I will have to call Sunlife again. The guy on the phone said the coverage costs the same if I live in Canada or another country, the coverage stays the same. $2200 CAD seems reasonable for full coverage.

Captnflex

@Blackwatch watch this video if you are planning to buy a residence (house or condo) to be able to get a capital gain exemption in Mexico

Captnflex

@Blackwatch If you are planning to buy a residence in Mexico, watch this video explaining the capital tax exemption.

Blackwatch

@Captnflex thanks for the video. I do follow him but had not watched this video. Amazing how complicated little things can be in Mexico.


I was active in another thread here where some were saying a Canadian citizen who is a resident of Mexico and receiving a Canadian based pension has to pay income tax to the SAT in Mexico.


I spoke with a tax accountant in PV that has said this is not the case. You pay 15% at source in Canada and no income tax in Mexico.


We have heard from a couple of Canadians in this thread who have said this is how they pay their income tax.


Has anyone on here been forced to pay income tax in Mexico on their Canadian based retirement income like CPP or RRSPs?

Captnflex

Did you get your RFC?

i have my appointment mid Feb 2023 and looking for infos.

Captnflex

Another good reading on Canadian non-resident withholding tax

The impact of non-residents earning investment income from Canadian sources

written by RBC wealth management.



if the link does not work do a Google search with:

the navigator+canadian non resident withholding tax

Captnflex

If you feel like more reading from another source about non resident investing in Canada look up the link it does answer many questions.

mexicogc

Hi to all, before any investment plan in Canada, the most important item is to determine if you will be considered a non-resident of Canada.


This is established only by Revenu Canada upon completing and sending the NR73 form.


Lots of questions are asked and important. In our personal case, it took a few months before receiving a confirmation from Revenue Canada.


Good luck to all in their individual project, GyC.