Moving to PR (original, eh?)

My husband has been transferred to PR. Currently we live in Bermuda.  (I am Bermudian/Canadian).  I've never been to the island, but will plan a trip or two before we actually move. 

My questions tend to be more around the financial/administrative lines.  I am totally confused about taxes, and whether I'll have to pay taxes on the rental of my house in Bermuda.

I'm looking forward to it....my guess is that I'll find the frustrations much the same as here, the benefits much the same, and will (once I learn Spanish) fit in, much the same.   

Any advice or pointers will be most appreciated.

What country's tax code are you referring to? If you are working for any U.S. Federal agency in Puerto Rico you will have to file an U.S. Tax return which will ask about rental income (anywhere in the world).

If you are working for any other private employer in Puerto Rico you will file a local tax return only with Departamento de Hacienda. Not sure if it asks about rental income outside the island. hacienda.gobierno.pr
If you call them I am sure they have English-speaking staff available.

I just moved to Canada and not familiar with Tax codes here. I'll cross that bridge when I get there :D

Hope this helps,

Martin

Ok, thanks.  This is helpful.  I'll go and have a read (and google translate) of that page.

My husband will be working for a private, but international company, and will be paying tax.  I understand that (though, having lived in Canada, and the UK, and now income tax free Bda, I am NOT looking forward to all the forms, etc.).

My problem is that I will be unlikely to be working while we are there.  But, our house here is in my name and will be rented out.  All the information I can find appears to be directed at US citizens, or others who are working.  And it appears to say that while I have to claim the income from rent, I cannot offset the mortgage interest expense.  Which is a pain, since the rent is unlikely to completely cover the expenses. 

I'll see what I can find on that site.  I will probably have to consult a tax accountant, but am reluctant to pay by the hour to ask stupid questions.  I'd rather have at least some understanding of the tax law before I go to the experts. 

I appreciate your help.

The tax situation in Puerto Rico is very unique. As a U.S. territory we are citizens of the United States but there is an agreement between the island's government and the Federal government to avoid double filing.  Person's working in Puerto Rico are required to file a Federal tax return ONLY if earning income from the Federal government of if during the year you had income in any of the 50 States. I believe it would be in your best interest to consult a tax advisor once you are there.

I am doing the same here in Canada this year. I have always filed in the United States and my wife in Canada. This is the first time we may have to file in both countries. I will pay an expert this year :)

I'm hopeful you will share some of the info. We are seniors wanting to retire in PR and need all the help we can get. We're having such a had time finding what we're looking for, HELP!!!
Good Luck to you and God Speed.

From all I understand, I will not have to pay taxes on any income earned out of PR.  However, my NEXT task is to find out what I need in the way of work permits, etc.  That should be an easier task (and less time sensitive.  I want to finish my distance learning degree first, and that'll take me the first few months we're living there!)