Declaring assets in India when entering Canada first time

[Ranveer_Gill]

Hello,

My Parents got Permanent Resident VISA last week. They are planning to come to Canada in 15 days. I have few question regarding our property in India. If anybody can answer my questions, I will be very thankfull. I am really confused about it.

1). How much money they can bring to Canada per year without taxes?
2). Do they have to declare the property at Airport and their value?
3). How much Gold they can bring and do they have to take pictures?
4). They are not selling the two houses now, but they will in future. Does that effect anything?

Thanks,
Sukhdeep

 

[steaky]

1) Things are subject to change every year. For now, there is no limit.
2) No, they don't declare real estates at the airports, instead they declare them when filing their income tax returns
3) There are no limits on how much gold they can bring. Take photographs on the quantity of gold they bring if they have the intentions as settlers of Canada
4) They might have to pay capital gains tax