PMM please reply, your advice needed

[candy555]

Hi PMM,

Please help me the following
I want to transfer more than 50000 CAD into Canada with in 3 months after my landing. My queries are

Should I declare this money transfer at the POE?
Will that money be taxed?

Regards

Candy

 

[omm]

after your landing you can transfer your money using your contry's wired transfer bank or remit this money using remitence source like citibank or whatever bank available in your country, first find out your country have good banks who allowed to transfer this money, if not then transfer in some less ammount first then another ammounts in part. (for example : 10000CAD * 5 part if not allowed >10k CAD from your country bank), even you can ask ICICI bank , citibank for remit wired transfer for huge ammount or ask your relatives issue DemandDraft(DD) on your name but DD charge more commission then other banks wired transfer.

I suggest wired transfer only, this ammount not taxable to you, you are transfer your money not earning from any sources.

OMM