POF Question

[vipulgoyal88]

Hi Guys, just another POF question...

So I have close to 16000CAD in my bank account out of which 8000 was gifted my dad. I am single so I need only 12000. I have created a 3 month FD of 12000 and now am left with extra 4000 CAD. A friend of mine needs some money and I want to lend this to him, do i need to do any documentation for lending this money to him or can I just transfer money to him?

 

[Asivad Anac]

You can certainly lend that money to your friend - CIC doesn't even need to know about that. You'll have to prove that the 8000 CAD was indeed a gift from your father.