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First Entry into Canada - Declaring Property

R

reach_michael

Newbie
Jul 24, 2010
2
0
Hello

I will be shortly entering Canada for the first time as in immigrant (Spouse).

How and where do I show on record that I own property in india that I may sell later when i close up everything in india.

Are their any formalities to keep in mind?

Thanks
Michael
 
:D Hi,

If you are entering Canada with a family class PR visa, no one will ask you about your funds or property.
You have the liberty to dispose it any time as you wish.
 
wilson said:
:D Hi,

If you are entering Canada with a family class PR visa, no one will ask you about your funds or property.
You have the liberty to dispose it any time as you wish.
Click to expand...

If there are goods being sent over then you will need to fill out a goods to follow sheet to avoid any tax etc.

As for the sale of property, you may incur a capital gains tax burden and have to declare when you file income taxes.
 
whoopi83 said:
If there are goods being sent over then you will need to fill out a goods to follow sheet to avoid any tax etc.

As for the sale of property, you may incur a capital gains tax burden and have to declare when you file income taxes.
Click to expand...

Well, there are no capital tax burden if the OP is a non resident of Canada for tax purposes and don't have to declare them when filing non resident income taxes.
 
Where can we get the good to follow sheet?
 
cmclim said:
Where can we get the good to follow sheet?
Click to expand...

These forms are available in the CBSA website, link given below:
http://www.cbsa.gc.ca/publications/forms-formulaires/b4-eng.pdf
 
Thanks for the help! :)
 
steaky said:
Well, there are no capital tax burden if the OP is a non resident of Canada for tax purposes and don't have to declare them when filing non resident income taxes.
Click to expand...

True steaky but I meant if they are resident for tax purposes, i.e. moved to Canada permanently and kept property in their home country (rented it to another) and then sold it.... anyhow all is good.
 
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