how much money i can bring

[mjma6]

hi

i came to canada in june 2009 as a landed immigrant, now i am back to moscow to sell my house and other property. anybody can tell how i bring that money approx more than $5 million. can i transfer that to my bank account in canada. is it a taxable money.

thanks

 

[PMM]

HI

hi

i came to canada in june 2009 as a landed immigrant, now i am back to moscow to sell my house and other property. anybody can tell how i bring that money approx more than $5 million. can i transfer that to my bank account in canada. is it a taxable money.

thanks

1. You can transfer as much as you want. There is probably no tax payable, as you are probably not "resident" for taxation purposes.

PMM

 

[mjma6]

Thank you PMM,but if there is any time limit after landing .in which i have to bring money into canada.

 

[PMM]

Hi

Thank you PMM,but if there is any time limit after landing .in which i have to bring money into canada.

No, but if is from the sale of property, the difference from the valuation on the day you "landed" to the day the property is sold, can be subject to capital gains tax.

PMM