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| Subject: Funds |
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I am a skilled worker immigrant, expected to land in a few months time.I neeed to know about funds I should carry with me while entering in Canada. Will this be tax free and should I declare the funds which i am planning to transfer to Canada in coming time.Help is requested and would be appreciated.Please expain in detail.Thanks.
ALL
[28-07-2008,05:04]
[***.29.219.19]
ALL |
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(in reply to: Funds)
If it´s over 10000 CAD then you have to declare and it´s tax free
[28-07-2008,06:48]
[***.29.114.6]
Tariq |
(in reply to: Funds)
Tariq thanks but I need to know the funds whch I plan to transfer in future.Should I declare them at my first landing and will it be tax free whenever transfered to Canada.
ALL
[28-07-2008,07:09]
[***.29.219.19]
ALL |
(in reply to: Funds)
If you live in Canada then your other incomes from Foreign countries are taxable. But as a new PR you don´t have to pay taxes.I read somewhere that you have to pay taxes if you live in Canada more than 8 months ( I am not sure about that).
[28-07-2008,10:23]
[***.29.114.6]
Tariq |
(in reply to: Funds)
I elaborate my question a bit more.While landing for the first time I am supposed to bring a certain amount of funds.But later after a few years if I sell some of my property back home and transfer this money to canada to buy a house or something.will this money will be taxed.I did not earn this money in Canada and have already paid tax on this money in my own country,What should I do to avoid the double taxation.
All members of the forum are requested to share please.
Thanks
[29-07-2008,04:18]
[***.29.219.19]
ALL |
(in reply to: Funds)
Similar types of questions has been asked before. There were no good answer ..just contact a Canadian Taxation office/expert. Actually, I have same kind of problem but I am gonna sell my house when I finally move to Canada and in that case, I don´t have to pay taxes ( since I was not living in Canada just landing). But you know what, I am gonna ask this question directly from the customs..whether I should mention this goods to follow list ( even though it´s not GOODS).
May be Sharon can tell something.
[29-07-2008,05:15]
[***.29.114.6]
Tariq |
(in reply to: Funds)
Sharon will you add something?
[29-07-2008,09:21]
[***.29.219.19]
ALL |
