Hello,
I am holding work permit here in Canada. I want to buy a house here and my parents are willing to support me financially.
Here are my questions:
1)If my parents transfer money from there bank account to my account in Canada, will that money be taxed?
2)Is there a limit of the money my parents can transfer to me?
Thank you very much for help! Any clues are much appreciated!
I am holding work permit here in Canada. I want to buy a house here and my parents are willing to support me financially.
Here are my questions:
1)If my parents transfer money from there bank account to my account in Canada, will that money be taxed?
2)Is there a limit of the money my parents can transfer to me?
Thank you very much for help! Any clues are much appreciated!