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People Also Ask about

How do you calculate physical presence for protected person?

Time spent in Canada before becoming a Permanent Resident (PR) may be used. Each day spent physically in Canada as a temporary resident or protected person within the last five years, before becoming a permanent resident, will count as one half day, with a maximum of 365 days towards your physical presence.

Can I live outside of Canada as a permanent resident?

When you become a Permanent Resident, there are some circumstances where you can live overseas and maintain your Permanent Resident status in Canada. To maintain your status as a permanent resident, you must live in Canada for at least 2 years - 730 days - within a 5 year period.

How long can you stay out of Canada if you are a permanent resident?

If you haven't been in Canada for at least 730 days during the last five years, you may lose your PR status.

How do you prove physical presence in Canada?

This can be your passport. If you don't have a passport, you need to include 2 other identity documents. For example, you could use your Ontario health card and your driver's licence. You can't use your permanent resident card as one of your identity documents.

What is 5 year eligibility period?

The five (5) year eligibility period includes the time since the minor became a permanent resident and each day that the minor was physically present in Canada as an authorized temporary resident or protected person before they became a permanent resident, if applicable.

What happens if you stay out of Canada for longer than 6 months?

Residency visa or permit: If you stay in a country beyond the period allowed by a typical tourist visa (usually three to six months) for reasons such as retirement abroad, you'll need a residency visa or permit.

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What is cit 0407?

CIT 0407 is a form used by corporations to report their quarterly estimated tax payments.

Who is required to file cit 0407?

Corporations that are required to pay estimated taxes are required to file CIT 0407.

How to fill out cit 0407?

CIT 0407 can be filled out by providing information on estimated tax calculations and payments made.

What is the purpose of cit 0407?

The purpose of CIT 0407 is to ensure that corporations are making timely estimated tax payments.

What information must be reported on cit 0407?

Information on estimated tax payments, calculations, and any other relevant financial data must be reported on CIT 0407.