Declaring goods and propoerty

[May_M]

Hello Experienced landers and users,

My parent are landing in Canada in december, and they have some goods which they will bring with them, and some later on. They are planning to stay 1-2 years, and then go back to bring the rest in Canada, and maybe sell their properties.
I know that they have to fill out B186-186A for both cases, but what about properties and vehicles they own? Where should they claim those?
They are planning to sell it later, but I just want to make sure they will report it to avoid any fines, or extra taxes.
I don't know anything about these, and your feedback is highly appreciated.


Best,
May

 

[steaky]

They would have to declare properties in their tax return and report any disposition of their vehicles. For more info, check cra.gc.ca

 

[May_M]

They would have to declare properties in their tax return and report any disposition of their vehicles. For more info, check cra.gc.ca

Thanks a lot! So they don't need to give any documents or form to the immigration officer when they land?

 

[steaky]

Thanks a lot! So they don't need to give any documents or form to the immigration officer when they land?

In your first post, you said they will bring some (personal) goods and bring some (personal) goods later. So they will have to prepare the forms and valuation report (if applicable) for customs stamping.

 

[May_M]

In your first post, you said they will bring some (personal) goods and bring some (personal) goods later. So they will have to prepare the forms and valuation report (if applicable) for customs stamping.

Yes, but those forms are for goods not properties and vehicle as far as I understand it.
I meant preparing form or documents for the properties the own in their home country before coming and living in Canada.

 

[mad_hatter]

Your parent do not need to declare properties and vehicle when they enter Canada. If their foreign properties, including cash, stocks & bonds, have a cost amount more then 100,000 CAD. They will need to file a T1135 form with their tax returns.

 

[steaky]

Yes, but those forms are for goods not properties and vehicle as far as I understand it.
I meant preparing form or documents for the properties the own in their home country before coming and living in Canada.

In addition to what the poster above said, they might want to prepare document showing how much the vehicle and property were worth at the time they cease to become tax resident in their home country.

 

[May_M]

Your parent do not need to declare properties and vehicle when they enter Canada. If their foreign properties, including cash, stocks & bonds, have a cost amount more then 100,000 CAD. They will need to file a T1135 form with their tax returns.

That's exactly what I wanted to know, thank you!!!

 

[May_M]

In addition to what the poster above said, they might want to prepare document showing how much the vehicle and property were worth at the time they cease to become tax resident in their home country.

They will do that for sure, thanks again.

 

[sarah2]

i think passengers younger than 18 years of age shall not granted relief from import duty payment for tobacco products, alcohol and alcoholic beverages.

 

[May_M]

i think passengers younger than 18 years of age shall not granted relief from import duty payment for tobacco products, alcohol and alcoholic beverages.

I asked this for parents, so no 18 or younger