Moving Funds and Jewellery- Tax

[kb123]

Hi, we already received our Permanent Residency in Canada in 2016. However, we got back to our home country to wrap up our affairs and should be moving permanently in a couple of months. A few questions:

1. When we landed in May 2016, we could not declare our list of jewellery as we did not have pictures with us. Is it necessary to declare and bring the jewellery in the first 12 months of landing? Would it suffice just to declare it (and bring it later) in the first 12 months without any tax liability later? Is there a tax on it if brought after 12 months?

2. Similarly for funds, is there a tax on funds wired to Canada post 12 months of landing (receiving PR)?

Thanks very much.

KB

 

[xpressentry]

Settlement funds are not subject to tax. Whatever jewellery / money you came with will be tax free. Whatever is yet to come will be taxed.

 

[kb123]

Thanks for your reply. Would you happen to know what is the tax % if one were to bring funds/ jewellery later?

 

[steaky]

Thanks for your reply. Would you happen to know what is the tax % if one were to bring funds/ jewellery later?

For jewelries, make sure you put them in the "goods to follow" list and get the list stamped by CBSA when you land.