Posted on: 27-08-07 03:55:00
hi,
i will be returning to canada soon.how can i bring money nearly 15k to canada.
what is the procedure for that.will it be taxed.it is easy for me to make a draft and bring it.
regards,
baliyan
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If you are a returning resident, did you file tax all the years on global income as per the requirement of CRA. If not, What explanation you will be providing for the sudden gain of wealth? I guess you will be taxed for the money you bring in now to Canada.
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Quote:
Originally posted by Charlie
If you are a returning resident, did you file tax all the years on global income as per the requirement of CRA.
-- This is not a requirement. If you have declared yourself as a cdn NR while you were away, you do not have to file the return for those years AND when you bring that savings inside Canada, it is not taxed. This is because that income is earned while you were a cdn NR.
