Hello Everyone,
Just wanted advise or suggestions- Can anyone give their valuable opinion on Candian Economy vs Indian Economy. I have some investments in India, but was wondering if it better to leave those investements in India itself or bring them to Canada, probably it is a dilema many new migrants must be facing. Of course one is taxed on ones world income, but Indian economy is growing as well, the shares, mutual funds, interets in India are very high.. or resonably good.. what is your opinion on this issue... or is it better to make newer investements in Canada?
Thanks in advance for any information provided.

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Mehra

In general, it is better to have the investments in the same country and currency that you plan to use the investment returns in.
So if you will be living in Canada and expect these investments to provide you income, then it's better to move them to Canada.
If these are retirement funds and you plan to retire in Canada, again move them.
But if you want to use these investments in India (either now or post retirement), leave them in India.

That said, neither is easy from the paperwork/logistical perspective.
If landed property above $100,000 CAD is involved, there are additional complexities in reporting.

If, however, the investments are purely shares/mutual funds, it is easier to leave them in India (since no Canadian brokerage can do an in-kind transfer of securities traded on the BSX) and simply declare the returns as foreign income on your tax return.

The returns will not be eligible for any tax credits and will be taxable at your full income MTR.

There are ways to hold these under an RRSP plan and defer the taxes, but it's probably not worthwhile unless large amounts are involved.

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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."

-- Rhett Butler in "Gone with the Wind"

Thank you for your reply. In your mail you have mentioned-

The returns will not be eligible for any tax credits and will be taxable at your full income MTR.

There are ways to hold these under an RRSP plan and defer the taxes, but it's probably not worthwhile unless large amounts are involved.

Could you please tell me what do you mean by MTR, and what is an RRSP plan?

Best wishes,
M

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Mehra

hi fellow cd's.
iam planning to move to saskatoon july end. i wanted a few clarifications from fellow desis. can i land there with the pr card issued in toronto? can i use the same sin card which was issued in toronto? is there any way that i can book accomodation for self as my family will move in later. what would be the approximate expenditure for a bachelor per month>? do we have any desi grocereys and restaurents there? looking forward to hear from all you seniors.

Quote:

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Originally posted by pratickm


If landed property above $100,000 CAD is involved, there are additional complexities in reporting.

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Chandresh

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