Hello all! I have received an ITA and I need to show 15000 CAD. Over the past 3 years I have been sending large amounts of money (that I got from my salary) to my father so that he could invest them and pay me interest. The result is there are a number of investments under his name (and not mine). Since I need to show money from my account for proof of funds, he has enough money in a liquidated state that he can simply send over to my account.
So the question is, do I pretend that this is a gift from my father and attach the gift deed, or do I say that this is money I had given him for investment purposes that he has simply returned back? Since all the transactions happened between the same 2 accounts (mine and my fathers), I have a complete history of transactions that I could present as proof. Will this make things more complicated and extend application processing time since the migration officer will have to look through years of bank statements? Does a gift deed where my father has "gifted" me the money be safer?
BTW I have no loans or debt.
Thank you in advance!
So the question is, do I pretend that this is a gift from my father and attach the gift deed, or do I say that this is money I had given him for investment purposes that he has simply returned back? Since all the transactions happened between the same 2 accounts (mine and my fathers), I have a complete history of transactions that I could present as proof. Will this make things more complicated and extend application processing time since the migration officer will have to look through years of bank statements? Does a gift deed where my father has "gifted" me the money be safer?
BTW I have no loans or debt.
Thank you in advance!