period to transfer assests

[kurian]

Dear friend,

As a landed immigrant, what is period within which i need to transfer my money to Canada without being taxed?

kind regards

kurian

 

[PMM]

Hi

Dear friend,

As a landed immigrant, what is period within which i need to transfer my money to Canada without being taxed?

kind regards

kurian

There is no tax on money, but you will pay income tax on the interest the money made from the date of landing.

PMM

 

[kurian]

What about immovable assests like house or property i need to sell before finally settling in canada. is there any time period? will that be taxed from the period i have landed? Please advise


kind regards
kurian

 

[PMM]

Hi

What about immovable assests like house or property i need to sell before finally settling in canada. is there any time period? will that be taxed from the period i have landed? Please advise


kind regards
kurian

The difference between the valuation of the house on the day you land and the day you sell it, should be claimed on your income tax.
But there a deductions that can be offset against those funds. If you are in that position it is usually best to consult a tax accountant.

PMM